Try a dispenser I remember from many years ago. It's an enclosed cabinet with a lock, and the TP advances about two squares at a time. Then install the cheapest and roughest TP known to man. And btw, that's exactly what the place I'm remembering actually did. I swear the TP was single ply with tiny bits of wood fiber embedded in it. No one in their right mind would ever want to use it, much less steal it.
On a serious note, if this is a highly valued employee, I don't think I'd tick him off over a little TP. If it's some easily replaced guy you don't exactly compensate well, maybe he can't afford to pay the price demanded by the hoarders and profiteers.
Jerry