The U.S. Department of Commerce released the following statistics that result from poor screening of employees.
- 30% of small business failure is caused by employee theft.
- Internal employee related thefts occur 15 times greater than external theft.
- Embezzlement losses exceed $4 billion every year.
The NY Times conducted a study of business losses and estimated that 72% of shrinkage is due to employee theft.
Employee fraud costs companies more than $400 billion dollars annually. The average organization loses an estimated 6% of its annual revenue. Companies with less than 100 employees often lack proper internal controls, making them an easy target for dishonest employees.
One out of every six crimes occurs in the workplace and homicide is the second leading cause of workplace death in the United States.
National Credit Verification Service says that 25% of the MBA degrees it verifies on resumes are false.
College and University registrars report that at least 60% of the verifications they receive are falsified.
The Society for Human Resource Management states 45% of all resumes contain one major fabrication.
The Wall Street Journal reports that 34% of all job applications contain lies regarding experience, education, and the ability to perform essential functions of the job.
The average award in a workplace violence lawsuit exceeds $1,000,000 per case. Source: The Workplace Violence Research Institute
The National Retail Merchants Association released statistics that show “employee theft accounts for an estimated 60% to 70% of all retail losses.
37.6% of surveyed college students admit to a history of criminal acts.
According to the Bureau of National Affairs, from $15-25 billion is lost each year due to employee theft.
On-the-job violence costs employers $36 billion each year.