Statistics show that workplace theft is a serious issue and the impact of theft on small businesses in particular can be devastating.
According to “Employee Theft Solutions” a division of the Shulman Center which specializes in employee theft:
- The FBI calls employee theft “the fastest growing crime in America!”
- The U.S. Chamber of Commerce estimates that 75% of employees steal from the workplace and that most do so repeatedly.
- One third of all U.S. corporate bankruptcies are directly caused by employee theft.
- The Boston Globe and Denver Post newspapers recently reported that U.S. companies lose nearly $400 billion per year in lost productivity due to “time theft”
- The American Society of Employers estimates that 20% of every dollar earned by a U.S. company is lost to employee theft.
As you can see, employee theft is a very serious and widespread issue that can cripple an organization.
In an upcoming blog post, I’ll share with you several helpful resources that focus on tips for preventing workplace theft.
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