Major Causes of Stealing of Cash-in-Transit by Employees a Case Study of G4S Security Firm Essay

This chapter contains the background of the study, the statement of the problem, general objectives, justification of the study and limitations of the study and research questions. 1. 1 Background of the study. G4s Security services has its operations in more than 100 countries and is a preferred security partner for many organisations across the globe. In Kenya G4s Kenya Limited is security expert, with global reach.

It offers variety of services such as cash services such as cash processing, Logistics services, courier services, cash transportation services, Bank Escort services, Valuable Escort Services, manned Security and security systems. G4s Kenya chapter had won the hearts of many organisation in Kenya for providing reliable and efficient services in areas of manned security services, security systems and cash transit services.

Of late the company’s image has been soiled, especially in the cash transit services where the guards who are supposed to offer security to the money have made away with very huge sums of money. 1. 2. Problem statement Many business organisations are struggling to promote their corporate image, reputation, efficiency and its market share. Flagging the corporate scene with muddied and tinted face is G4s a security and courier firm.

The adventurous heists under G4s Kenya’s watch are examples of how corporate image is ruined. The courier firm holds a contract with several banks to refill automated teller machines (ATMs) in the City and around the country to meet customer demands. However, the cash-in-transit they are supposed to guard and safely transport, has too often been carted away in schemes sometimes said to involve or been hatched by the employees of the courier firm.

This is a problem because it has soiled the reputation of the firm, it has lead to losses by losing business to competitors, and being seen as unreliable by its customers ,losses to the banks and the insurance companies too. This research therefore seeks to find out the major causes of stealing of cash-in-transit by employees a case study of G4s security firm and suggest the possible ways of how best to reduce or eradicate the problem. 1. 3 Research objectives 1. 3. General objective The general objective of this research is to find out the major causes of stealing money in transit by security guards a case study of G4s security firm. 1. 3. 2 Specific objectives 1. To find out whether low salaries contributes to the stealing of cash on transit by the employees. 2. To find out how the firm recruits its staff with high integrity. 3. To find out whether lack of job security contributes to stealing of cash on transit by employees. 4.

To establish whether there are tracking systems that are used to monitor cash-on-transit. 5. To find out ways of curbing the loss of money on transit. 1. 4. Research questions 1. Does low pay contribute to the stealing of cash-in-transit by the employees? 2. How does the firm recruit people with high integrity? 3. Does job insecurity cause employees to steal cash- on- transit? 4. Are there any tracking systems that monitor the cash-on-transit from the firm? 5. What are the ways of curbing the loss of money on transit. 1. Justification of the study This study on causes of stealing of cash-in-transit by G4s personnel is aimed at reducing or eradicating the vice. This vice causes losses to the financial institutions which has a direct effect on their profitability and thus the economy of the country. This problem has hit the headlines many occasions in the recent past which tend to soil the corporate image of the firm, causing losses to the banks, as well as may cause insurance firms to go under because of the huge compensations they are be required to meet.

The study will establish the root causes of the employees stealing cash-in-transit and come-up with possible recommendations that when implemented may reduce or eradicate the problem. The study will then offer suggestions on how to curb the problem of employees stealing cash-in-transit. By the end of the study the organisation will benefit by: 1. Being able to reduce the cases of loss of money-in- transit by employees. 2. Maintaining employee who are highly motivated and uphold high levels of integrity. 3.