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”
or loafing. - 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.
Working on improving employee engagement?
EPIC is an Employee Engagement software that gives you the tools and insights to create a workplace culture that encourages engagement, loyalty, and trust.
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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Dianne Shaddock
President and Founder at Easy Small Business HR
Get more tips on interviewing, hiring, managing and engaging your employees. Dianne Shaddock is the President of Easy Small Business HR, Employee Hiring and Managing Tips and the author of the eGuides, "How To Supervise: What Your Boss Never Told You Before You Took the Job", A Step-By-Step Guide For New and Seasoned Managers and "How To Find and Hire the Best Employees".
Latest posts by Dianne Shaddock (see all)
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