1. presented by James W. Bassett
You Can Solve
Employee Theft
presented by James W. Bassett
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2. Sense of Desperation! More Thefts & Robberies More Job Losses
Shrinking Retirement & Savings
Home Foreclosures
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3. © 2010 www.TheftStopper.com (352) 277-6222

4. The thief’s co-workers.
Question:
Who knows the identity of the thief?
Answer:
The thief’s co-workers.
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5. How Innocent Co-workers Know
Spend significant time together
Share life stories, personal problems, feelings
If someone acting different, co-workers notice
They become amateur detectives
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6. Interview All Employees/Suspects
Had opportunity & access
1-on-1 in privacy
No phones
No interruptions
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7. Gain Cooperation Point out in suspect’s best interest
Assure confidentiality
Review details – what, when, where
Ask specific questions…
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8. 5 Key Interview Questions
Who could have stolen it?
Who did not steal it?
Who would you say did not steal it?
Who do you think stole it?
Who would say you stole it?
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9. Benefits of Written & Oral Theft Interviews
Both: Refusals are rare
Both: Legal everywhere
Oral: Cheaper
Written: Faster, more effective
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10. Benefits of Written Theft Interviews
Quicker turn-around time
Narrowing interview, i.e., 12:1
Suspects more likely to believe written confidentiality promise
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11. More Benefits of Written Theft Interviews
Less stressful than oral interview
No key questions overlooked – everyone asked same questions in same order
Sets up human follow-up
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12. Pro’s & Con’s of Polygraph Testing
EPPA law can be perilous – seek attorney’s advice first
Polygraph extremely accurate
Guilty refuse; innocent agree
Sometimes get a confession
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13. © 2010 www.TheftStopper.com (352) 277-6222

14. How Employee Thieves Think
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15. Three can keep a secret if two of them are dead.
- Benjamin Franklin
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16. Employee Theft Equation
Perceived
Risk of
Detection
Employee Theft Probability
Expected Penalty + =
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17. © 2010 www.TheftStopper.com (352) 277-6222

18. © 2010 www.TheftStopper.com (352) 277-6222

19. © 2010 www.TheftStopper.com (352) 277-6222

20. © 2010 www.TheftStopper.com (352) 277-6222
7/30/2019
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21. “Vacuum Cleaner Gambit”
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22. How to Plant a Rumor © 2010 www.TheftStopper.com (352) 277-6222

23. Some Employees Think They Are Owed
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24. Employee Theft Prevention
10% will never steal;
10% will always steal;
80% go either way … depending.
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25. VAQ™ Pre-employment Honesty Test on www.TheftStopper.com
Pre-employment Honesty Testing
Free sample of
VAQ™ Pre-employment Honesty Test on
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26. Q: Do some employers encourage employee theft?
A: YES!
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27. © 2010 www.TheftStopper.com (352) 277-6222

28. Dipstich Dry Cleaners © 2010 www.TheftStopper.com (352) 277-6222

29. Why You Need More Than Criminal Record Checks
Much employee theft undiscovered
Some discovered but not investigated
Most thieves never caught
Those caught are not prosecuted
Those prosecuted are not convicted
Result …
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30. Few employee thieves are ever convicted.
Why You Need More Than Criminal Record Checks
Result:
Few employee thieves are ever convicted.
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31. Who Steals More? Experienced employees? New hires?
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32. Wilbur’s Not So Cool Yule
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33. © 2010 www.TheftStopper.com (352) 277-6222

34. Periodic Inventories = Theft Reports
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35. Shortage Questionnaire™
Administered to employees to find out who stole during inventory period
Identifies security loopholes
Go to
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36. Sara or Gail??? © 2010 www.TheftStopper.com (352) 277-6222

37. The only thing worth stealing is a kiss from a sleeping child.
- John Houldsworth
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38. Thank You!
My contact info:
Jim Bassett
(352)
© (352)