You’ve just pulled the trigger on hiring a bright and bold new employee, and you couldn’t be more excited. On paper, they are everything that your organization’s been looking for—and the decision to welcome them into your team comes with an implicit trust and vulnerability. So it can be difficult to imagine that such a candidate would engage in employee theft, but it is never out of the question.
At times, that faith can be bountifully rewarded, but at others, it can be met with deception and disappointment. This might be a cruel twist of fate, but it could be a correctable omission in your policies and procedures. Either way, what do you do next?
The dedicated corporate investigations team here at Lauth Investigations make it a number-one priority to help businesses like yours to minimize the risk of crises triggered by employee theft or fraud—or navigate such unwelcome occurrences with swift and decisive action, for optimal results. Read on to learn more about how to kick a laser-sharp corporate investigation into action, and the rewards to be found in harnessing preventative corporate culture audits.
Most Companies are Naive When it Comes to Employee Theft and Corporate Fraud
How common do you think workplace theft might be? Could the guilty among the workforce be 1 in 100, or perhaps 1 in 10? Shockingly to some, research reveals that roughly 75% of employees have stolen at least once over the course of their careers, resulting in a staggering $50 billion in losses absorbed by American businesses every year. While a visionary employer certainly shouldn’t allow such numbers to make them jaded at the cost of innovation, whenever suspicion arises, effective corporate investigations should certainly follow!
One of the other pitfalls that can often be correlated with misconceptions about corporate fraud, workplace theft, and even corporate data theft, is a hole in company policies. Each and every organization should have clear and calibrated policies in place that serve as a road map for handling these issues. The absence of such policies—or deviation away from them—can be detrimental should civil or criminal litigation be on the cards. If in doubt, turning to an expert corporate investigations specialist can ensure the best possible trajectory forwards, whether crisis has already arrived or not.
The Advantage of Assigning an External Corporate Investigator
Above all else, the goal of the dedicated corporate investigations specialist is to protect the resources and reputation of the company they serve. While this may be an appealing proposition, many employers still wonder if they can get away with conducting theft or fraud related corporate investigations in-house.
While this can be an effective option, internal theft and fraud investigations do come with some degree of inherent risk. The act of one colleague investigation another can leave a company open to accusations of bias or a cover-up. Meanwhile, the employee burdened with the responsibility it drawn away from their usual tasks—leaving either their professional role or the investigation to suffer. Finally, poorly conducted investigations can become a legal minefield if a neat conclusion is not forthcoming.
Following every lead to uncover and act upon suspected crimes in the workplace should be an unwaveringly thorough process. If not, the consequences can be far reaching, which is why a seasoned private investigator can be the ultimate ally. Gathering evidence, conducting interviews, liaising with authorities, and tracing assets are all part of the job—and these diligent, impartial, and fast moving investigations allow companies to get back to doing their best work at the first possible opportunity.
Revealing Pervasive Patterns and Turning the Corner Away From Employee Theft and Fraud
When all signs point to a crime being committed, a laser-focused corporate investigation is the appropriate course of action. However, what is the right path when managers or CEOs have a niggling sense that something isn’t right, suspect widespread misbehavior, or feel that the company is inexplicably underperforming?
In these moments, a comprehensive corporate culture audit is an excellent undertaking—akin to a health-check for your business. This particular arm of corporate investigations services offers preventative momentum, the chance to gain a clear picture of a broad array of potential hidden issues, and a plan that is ready to correct them.
If you suspect that corporate theft or fraud is occurring on your watch, reach out to the Lauth Investigations team for friendly and definitive advice on the options that lay before you. Learn more about our expertise in the field of corporate investigations, and about the transformational power provided by corporate culture audits. Alternatively, contact us today for confidential guidance on your unique situation, and to receive a no-obligation quote.