An employee or Independant Contractor might also quote to a customer a purchase amount higher than the actual price of an item and then keep the difference at the point of sale. Once the employee or Independant Contractors has the cash, he simply walks away.
Loss of inventory or shrinkage from theft can happen in the merchandise distribution process. It frequently occurs on the sales floor with employees or Independant Contractors hiding merchandise in pockets or on shelves behind other items to pick up at the end of their ay. It also occurs before merchandise becomes available to the public. Employees or Independant Contractors will take items from warehouse shelves or newly arrived merchandise before it’s scanned into your inventory software. Employees or Independant Contractors have also been known to steal shipping trucks containing merchandise meant for their business.
Some employees or Independant Contractors pocket small items such as pens, staples or scissors slowly and repeatedly over time or take them on the day they quit before they officially resign. Others steal more expensive items such as furniture or equipment after hours when they work unsupervised overtime or after they access your business without permission when it’s closed for the day.
Employees or Independant Contractors sometimes falsify records or perform actions that result in receipt of payment for work they didn’t do. Some employees or Independant Contractors request reimbursement of travel or other expenses unrelated to work such as reimbursement of a business lunch that was actually a personal meal. Employee & Independant Contractors thieves will also fill out time sheets with hours they didn’t work or take extra breaks and fail to deduct the time. In addition, employees or Independant Contractors can steal by taking personal phone calls, chatting with co-workers or surfing the Internet for hours instead of working.
Many employees or Independant Contractors intentionally steal information from their employers to benefit themselves or competitors. Types of information include customer lists, office memoranda and proprietary product, service or other data. Theft might occur via email, or the employee might print out the information, or copy it to a flash drive or cellphone, and simply carry it from your business in hand or in a bag or briefcase.
Types of Employee Theft and Office Theft Statistics
The Rise of Office Theft
We’re not talking just about pens and paper clips; employee theft is on the increase and becoming a serious issue for many companies. The retail sector is one of the big problem areas, but many industries have to deal with the rise of office theft.
A report from the Association of Certified Fraud Examiners has revealed some shocking facts regarding employee theft.
Some highlights include:
Around 27 % of large companies have seen an increase in theft cases.
7 % of annual revenues are lost due to fraud.
37.1 % of total frauds were committed by managerial staff
On average it takes 2 years to detect office fraud
29 % of employees have had their ideas stolen while at work
1 out of every 30 retail based employees have been arrested for theft in the workplace
It was found that men are much more likely to steal, and those who do steal more.
Here is a break down of the education level of office thieves:
High school degree – 34 %
Some degree – 21 %
Bachelor’s degree – 34 %
Postgraduate degree 11 %
Why do Employees Steal?
One of the big reasons behind workplace theft may come as a surprise. Employees who were caught stealing or those who later confessed to it have given their reasons. In most cases it wasn’t because of any real financial pressure, but that the company made it to easy to do so. This would lead to the temptation of stealing, even though ethically they believed it is wrong. Some employees pointed out that they saw senior staff helping themselves to whatever they wanted, so they assumed it was an ok for them.
What do Employees Steal?
There are many ways that workers can steal from their employers. Some common ways are:
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