One-fifth of employers polled last month said that theft became a moderate to big problem lately. And not just little things. Moderate to huge theft.
If you’re going to get laid off anyway might as well take some souvenirs, right? After all, the company owes you.
Yeah, not so much, this is actually petty theft.
WSJ: Workers who steal even small amounts of money or goods from an employer risk big repercussions. In addition to sacking internal thieves, many employers file civil lawsuits against them, says Bob Riordan, partner and leader of the labour-and-employment practice group at Alston & Bird LLP in Atlanta. Some even press criminal charges, which can result in jail time.
The installation of video cameras, tracking devices and other monitoring tools can also help deter workers from pilfering, but employers should first review local laws on the practice.
And who are the people committing the crimes?
A 2007 study from Pricewaterhouse shows that senior-level employees with an average tenure of 7½ years are responsible for 25% of all reported internal frauds. Overall, 85% of fraudsters are male, 44% are between the ages of 31 and 40, 38% possess at least a bachelor’s degree, and 12% typically hold a postgraduate degree or higher.
They are doing some serious damage.
In 2007, companies lost an average of $2.4 million to fraud, the majority of it by employees, up from $1.7 million in 2005, according to PricewaterhouseCoopers LLP, which conducts biannual surveys of around 5,400 companies of all sizes world-wide.