Today, businesses face many different factors that can cause them headaches. One such issue is losses due to employee theft and fraud. Organizations that have employees, sell product / merchandise and have any sort of inventory face this reality everyday. It is imperative that every business leader come to grips with these face to face, or suffer the consequences.
Here are some staggering facts that leaders need to know:
- Businesses lose an estimated $600 billion each year in the U.S. due to theft.
- It is estimated that these losses total $3.5 trillion worldwide each year.
- 1/3 of all small business filing bankruptcy do so because of theft and fraud.
- 80% of all employees will steal from an employer at least once in their life.
- The average loss is $43k up to $106k, before that person is ever caught
- Only 1 in 30 will ever GET caught!
Potential dishonest employees look for things where they work – lack of controls in the workplace, opportunity and rationalization of why they should steal from their employer. This typically is the basis for when someone begins to take advantage in the workplace. Get educated today!
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