Look around your business and consider these statistics from the U.S. Chamber of Commerce: Three out of four employees will probably steal something from their workplace this year, and employee theft is the cause of 33% of all bankruptcies. Still, while 64% of small businesses report that they have experienced employee theft, only 16% of those reported the incident to police, according to a study from the University of Cincinnati.
The reasons for not reporting the thefts range from emotional to practical, but Jay Kennedy, the doctoral student who conducted the research, identified four core themes:
Unfortunately, sweeping the problem under the rug as quickly as possible won’t solve the problem. Here are three things you can do today to help shore up any leaks in your operations before employee theft drains your coffers.
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