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Solving the Issues of Employee Theft

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In 2012/2013 the reported incidents of employee theft were 5,051. It was also established that there were 9.5 incidents of employee theft per a thousand employees. Employee theft was noted as a major drawback to the success in the retail business due to the loss made in both value and volume as per the survey. Due to the measures put in various businesses to curb the problem, a drop in the number of offenses by 7% was noted compared to the results the previous year. The drop was seen as a positive step towards eliminating the social ill. Referring to the results from the study, the years 2007/2008 and 2008/2009 recorded the least reported crimes of employee theft.

This was 4 employees in every bunch of 1000. 2006/2007 recorded the third-highest value having more than eight employees in every 1000 employees. 2011-2012had the highest number of reported crimes with the value being more than ten employees in every 1000. Albeit the drop in the number of employee theft cases reported, 2012-2013 was second in the list. The average cost of employee theft per incident was £ 600 in 2006-2007, the value dropped significantly to almost £ 200 the following year.

In 2008-2009 the value shot up above £ 800. This was followed by a significant drop in 2009-2010 with the value being approximately £ 300. The value was maintained in the following year failing to reach £ 400 per incident. However, 2011-2012 recorded the highest value in terms of the average cost of employee theft per incident with the value recorded being more than £ 1500. This was followed by a ‘ slight’ drop the following year with the value being approximately £ 1200.It is important to note that though the customer theft cases reported may be far above those of the employees, the cost of each employee theft is about seven times the value of the one committed by a customer.

The number of reported cases of employee theft to the police was less than forty percent of the total which was funny considering that the employer feels betrayed in such an instance and so he may decide to solicit the services of the police to have compensation for the stock stolen or lost.

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