Wednesday, March 20, 2019

Shocking Employee Theft Statistics That Every Boss Should Know

Shocking Employee Theft Statistics That Every Boss Should Know


No one wants to believe that their employees are stealing from them but in most cases they are (or they have been stolen from in the past). You want to trust the people who you took time and care to hire, but it is hard to know every piece of their background and if they have been dishonest in the past. Employee theft is complicated. Some people will “borrow” a stapler to take home or sit on their phone instead of working. What they don’t realize is these “harmless” actions are actually employee theft in its simplest form.

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Not all employee theft are these seemingly harmless actions. Sometimes employee theft can be significant. I’m sure that we have all seen cases in the news where long time employees embezzled thousands (or in some case millions) from their employers. They are usually the last person you expect. Stealing from an employer is a slippery slope. It usually starts out with a small item or a couple dollars and then some employees who see that they are getting away with it, may test the waters even more. They could steal something bigger or keep taking money. Before you know it, time and amounts add up and the losses could be devastating. Don’t let your employees do this to you. Know what they are doing and monitor them regularly.

In case you need some convincing here are some shocking employee theft statistics (Courtesy of Statistics Brain and the Association of Certified Fraud Examiners):

Your Employees Are Stealing From You

It’s a hard fact to come to terms with, but in the study from American Certified Fraud Examiners they found that 75% of all employees surveyed admitted to stealing from an employer at least once. Many admitted to doing it multiple times.

More Employees Steal Than Shoplifters

42% of inventory shrinkage in retail is due to employee theft. What is really startling is that only 35% is from shoplifting. More employees are stealing than shoplifters.

A Quarter Of All Employee Thefts Are For Over 1 Million Dollars

The median amount for employee theft is $175,000. What’s even more shocking is that 25.3% of employee theft cases involve an amount of $1 million dollars or more. For a small family owned business, that is enough to bankrupt you. In a lot of cases with employee theft, this is exactly where it leads to – Bankruptcy.

Are you still convinced that your employees could never steal from you? Your employees may be honest, but it wouldn’t hurt to keep an eye on the situation as well. You can perform inventory on a frequent basis to make sure that your products aren’t walking off of the shelves. If you are worried about your employees stealing confidential information, you can remotely monitor your PC to ensure that they aren’t sharing files or copying information that they shouldn’t. Don’t let employee theft bankrupt your company, take steps to protect it now!

Lucy Collins is a hiring manager for a large retail store. When not hiring and training new employees, she is a contributor for Sniper Spy, an application that allows you to remotely view your PC.

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The Different Compensation Benefits You Are Entitled To As An Employee

The Different Compensation Benefits You Are Entitled To As An Employee


As an employee you need to have worker’s compensation benefits designed for different purposes. The benefits included in your worker’s compensation can cover various medical care aspects such as health care costs, disability coverage, rehabilitation expenses and restitution for lost wages. As a matter of fact, your immediate family members can receive benefits if you unfortunately die in a work related accident. Sadly, not all employees are aware that they have the right to worker’s compensation and due to their lack of knowledge are unable to receive any benefits. When your company fails to comply with your right to worker’s compensation benefits for medical care, disability, rehabilitation or even death, the assistance of a lawyer is necessary.

  • Benefits Under Medical Or Health Care

Through your worker’s compensation, you can have your medical and hospital expenses paid for as long as you were injured at work or even on the road as long as it was during work hours. Though the coverage amount will vary from state to state, the common expenses covered for are doctor consultations, medical expenses and surgery costs, as well as special equipments such as wheelchairs. However, compensation does not usually cover acupuncture and therapy.

  • Rehabilitation Benefits

The expenses for physical therapy or rehabilitation will be covered by your worker’s compensation if they are deemed crucial to your complete recovery. The benefits for rehabilitation are designed to cover all the needed therapy to restore mobility, thus allowing you to continue working and perform all your duties. However, if your injuries are so severe making it impossible for you to return to work, these benefits can be provided for occupational evaluations, education and training to allow you to find another job where your injuries will not be a hindrance.

  • Disability Benefits

Disability benefits are meant to compensate for the loss of wages while you were unable to return to work. The benefits are usually provided in different increments based on the severity of your injuries or if you are unable to perform the duties required in your occupation. They will be based on 2/3 of your wages earned before you got injured and you will not be taxed on the benefits to be received. The different types of disability that your benefits will be based on are –

  • Temporary total disability
  • Temporary partial disability
  • Permanent total disability
  • Permanent partial disability
  • Death Benefits

If your injuries lead to death, your immediate family members – spouse, children or parents, can receive death benefits from your worker’s compensation. The benefits are meant to provide restitution for burial and funeral costs, as well as to compensate for loss of income and support. This is very crucial especially when your family members are financially dependent on you.

Are You Eligible For Worker’s Compensation Benefits As An Employee?

It is important to understand that not all employees who file a claim can receive benefits for their injuries. Only employees who sustain work related injuries are eligible for worker’s compensation benefits, regardless of who was to blame for the injuries. The injuries may be sustained at the workplace, while doing a business errand, on a business trip or at a conference. If you choose to accept your benefits, you waive your right to sue your employer for negligence.

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Valerie Lee is a freelance writer who specializes in various legal issues concerning employment. She offers valuable information for the benefit of employees such as worker’s compensation. Click here to find out about the various benefits covered by worker’s compensation that you have the right to as an employee.

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