I have a sensitive situation in my office. I think one of the administrative staff is stealing from other employees. A number of items have gone missing from the office recently such as mobile phones, corporate gifts, even a wallet. I spotted this particular person acting suspiciously when I came in one morning but I can’t be sure. Everyone is rattled – but how do I deal with this without falsely accusing someone of doing something they haven’t? PO, Sharjah
This is always a difficult one for management to deal with sensitively. The sad truth is that pilfering is commonplace in many offices. In too many places of work, anything left unattended – which is not owned by an individual – is considered fair game, not by professional thieves who come in from outside, but by opportunistic amateurs who work in the same building or even the same organisation. So corporate gifts, office supplies such as pens, tablets, reams of paper, envelopes and the like, all disappear like dew in sunshine.
Many people who work for a living think of these things as perks of the job and don’t think of themselves as being dishonest in any way when they misappropriate these items for themselves. It is then, for a very few people, a short step to stealing mobile phones, iPads, wallets and other personal goods. In my experience, theft in offices often has less to do with need on the part of the thief than to do with compulsion – an inability to resist temptation. Often the culprit, when discovered, is a most surprising person.
Of course it can’t be tolerated. But there are two things to address here. The first is how people come to believe that such behaviour is acceptable. Management has some blame to bear here. There is a cultural responsibility which management must shoulder to make clear that pilfering, however innocent it may seem, is simply not acceptable. There are grey areas that need to be addressed.
Many of us now work from home some of the time. So it is right that we should be allowed to use some office stationery at home – but by arrangement, with permission and within agreed limits. There should be an audit trail that protects everybody. Anything outside the code of accepted practice is a crime against the culture of the team or organisation and needs to be dealt with firmly, quickly and consistently. Persistent offenders need to be moved out of the team or organisation. Once this culture is established, then serious stealing such as you describe becomes rarer, because it is an escalation.
However, what you have to address is the second thing, which is the escalation – the culture is cracked, and you need to address a case of serious and persistent theft. You must not make baseless accusations. If you do, you potentially face a tribunal, or at least a slanging match where your accusation is strenuously denied and your “proof” turns out to be insufficient, leaving a bad taste in every mouth. So you need hard, incontrovertible proof. In your position, I would set and bait a trap. Leave something tempting (don’t be blindingly obvious) and leave the bait under surveillance using a hidden camera. Use an external supplier to provide the surveillance equipment if you prefer – set it up over a weekend, let nobody else know, then review the footage. If and when you catch your thief, take the appropriate action against the individual, but then you must also re-establish the culture that disallows any dishonest taking of supplies or equipment. By making the more minor crime unacceptable, you make the bigger offence more unthinkable.
We can help this culture to flourish by championing it and by helping those who are easily tempted – which we do by removing temptation from their path. Let’s not leave phones, wallets, cash, iPads, MP3 players, e-readers and so on lying around on our desks. Let’s also keep off of our desks portable goodies like calculators, external hard drives, USB pens and other desirable portables. Out of sight can be out of mind for the opportunistic pilferer.
Doctor’s prescription:
Let’s create an atmosphere of trust by making dishonest behaviour unacceptable and unthinkable.
Roger Delves is the director of the Ashridge Executive Masters in Management and an adjunct professor at the Hult International Business School. He is the co-author of The Top 50 Management Dilemmas: Fast Solutions to Everyday Challenges. Email him at business@thenational.ae for advice on any work issues
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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England v South Africa Test series:
First Test: at Lord's, England won by 211 runs
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Third Test: at The Oval, July 27-31
Fourth Test: at Old Trafford, August 4-8
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Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers