Wasting Working Time: How To Prevent This Type Of Intangible Stealing?
There are basically two types of theft: tangible and intangible.
Those 2 types can be of course related and then it’s hard to find out the initial reason of the stealing. And even more complicated to realize the fact of their relation.
What is tangible stealing?
It’s literally everything which could be taken from a company by employees:
- Company’s produced products;
- Raw materials;
- Office supplies;
- Office furniture;
- Laptops and other office machines etc.
There’s no need to list all possible options, it’s quite obvious.
What is intangible stealing?
This definition means intended or unintended employees activities leading to tangible losses of a company:
- Unwillingness or incapability to do their job: inactivity or idleness, making personal things while working hours.
- Company’s reputation harm: intended or unintended employees actions impacting negatively on the overall company’s reputation which leads to significant deprivation of financial situation.
- Business espionage: stealing and further third-party selling company’s databases, know-hows, copyrights, patents and other confidential information.
- Financial theft: double-dealing, condemnation, appropriation of undocumented income etc.
- Using company’s assets for personal financial gain: performing third-party orders, passing incoming orders to third-party for personal interest while working hours and using company’s assets without employers agreement.
- Abuse of official position: closing unprofitable deals, selling products to someone who is not going to pay for them, providing illegitimate discounts etc.
But why is he stealing? The company pays quite good! Not every employee has a theft nature, just a specific type of people, who want more and more even being paid totally enough. And if this type employee is a decision maker in the company (makes decisions related to using company’s assets) then most probably he’s got a temptation to act only for personal gains.
A few facts about workplace theft:
- According to American Payroll Association, the average employee steals 4 hours 5 minutes of working time each week.
- The U.S. Chamber of Commerce study reveals that 3 out of 4 employees steal something tangible or intangible from their employers. In 2012 U.S. employers lost $20-40 billions as a result of employee theft.
- 75% of theft has never been caught.
How to avoid or prevent at least working hours stealing?
- Realize that some part of company workforce most probably steals, wastes – you name it – working hours.
- Choose the right employee monitoring solution: no spying at all, just respectful monitoring staff productivity.
- Analyze reports on a regular basis: data is absolutely nothing without proper analysis.
- Get insights from reports and plan how to rebuild employees everyday workflows for the most effective cooperation.