Business Security:
Businesses Say Theft by Their Workers is Up
Companies find that trusted employees often commit the crimes, and they believe the recession is to blame.
By SARAH E. NEEDLEMAN / WSJ
In October, an accountant at 321 Takeoff Inc. in New York became suspicious after an employee who normally filed weekly expense reports for around $80 began requesting $120.
When Alona Fromberg-Elkayam, the branding agency's president, approached the employee, she says she was met with flimsy excuses. She fired the employee, a midlevel designer.
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In 2006, the American workforce accounted for 47% of all inventory shrinkage. Although this number itself is staggering alone, 16 out of the 24 types of retail businesses reported employee thefts well above this average.
The Top Five Retail Markets for employee theft:
- Convenience Stores - 82.5%
- Optical - 61.5%
- Electronics/computers/appliances - 60.4%
- Furniture - 53%
- Discount Stores - 52.4%
Take steps today to reduce your exposure to employee theft by scheduling your FREE Security Risk Assessment here or call 888-696-8926.
Stats provided by 2006 National Rertail Security Survey - University of Florida