Theft in the workplace is a problem increasing in severity. According to Zippa, Employees stole approximately $50 billion from employers in 2021. This represents 75% of businesses being affected by the losses. On the flipside, theft in the workplace is only half the story. Now let’s take a quick look at theft from the buyers. According to Talk Business, in 2021, the supply side shrank 1.4%, which represents $94.5 billion dollars in losses, which was an increase from $90.8 billion in 2020. When taking into consideration both sides of theft, how can a business help prevent theft?
What is Theft in the Workplace?
Let’s simply take a look at theft in the workplace. Theft in the workplace is the act of stealing an employer’s property or assets for personal consumption. This can include stealing merchandise, money, data and time. Even though these are four broad categories, the cost of the theft can bring a company into bankruptcy. According to the Better Business Bureau, 30% of businesses end up failing as a result of theft.
Temptation is All Around
The temptation for employees is great especially with the constant threat of high inflation. The fear that it causes people on their financial situation, cause employees to think about it on a more constant basis. In addition, issues with family illnesses, caring for the elderly and pressures for school bills and activities put extra pressure on. Taking snacks from work, padding expense reports, or taking product off shelves are just some of the ‘easy’ ways to steal. Of course, there’s the more severe methods, which include embezzlement, fraud, workman’s compensation and the more costly losses.
Embezzlement & Fraud Investigations
When you suspect or notice that assets are missing, it’s time to check if there’s something missing. RGH Investigations can help you detect if employees are embezzling funds or if employees are being fraudulent with customers, suppliers or others within the company. There are various ways RGH will approach the situation utilizing numerous investigative techniques to uncover the person(s) involved. Once you give us a call, we will discuss what is going on within your business and discuss with you the recommended techniques to uncover wrongdoings.
Workman’s Compensation
This is a very common form of stealing. How can a worker get as much time off as possible, and/or get a settlement where they never need to work a day in their life again. RGH Investigations works regularly with insurance companies and companies who suspect their injuries and not as severe as they claim to be. We’ve uncovered hundreds of situations where the worker claimed severe injuries. The result was they can climb stairs, pick up heavy objects and even drive. These types of situations are generally uncovered rather quickly with the right investigative techniques. Let us know if you have these issues, and we’ll work to prove or disprove their workman’s comp claim.
Get Control
You may not be able to control both the employee and the buyer side at one hundred percent, but certainly you can gain back plenty of control on the employee side and reduce the amount of theft in the workplace. Let’s start with the obvious and get this reduced for your company. Once this loss is reduced, then we can begin to tackle the buyer side. Contact RGH Investigations today to begin your journey to higher profitability. Call us at (312) 981-8770.
