March 24, 2014

3 Out of 4 Employees Steal from Employers

pie chartMartin Investigative Services, Inc. has a way for companies to save and increase revenue—by reducing employee theft.

The firm, which has been in business for 30 years, says that the U.S. Chamber of Commerce reports around 75 percent of all employees steal from work in some way, half of them steal repeatedly, and one of every three business failures is the direct result of employee theft.

The Department of Commerce also estimates that unethical employees costs American businesses in excess of $50 billion annually and 33 percent of all business bankruptcies are caused by employee theft. Also alarming, the Department reports that 59.1 percent of employee thieves are men while 40.9 percent are women.

Thomas G. Martin, an investigator, former federal agent and the firm’s founder, explains the common scams, which include:

  • Employees stealing time, products or money by way of phantom employees
  • Fraudulent workers’ compensation claims
  • Spying via Internet-bought audio bugs or video equipment

Martin says that companies can easily fix most of these issues by hiring the right private investigative team; conducting thorough background checks; making sure that there are proper security procedures, systems and personnel in place; reviewing shipping and receiving policies and procedures; listening to professionals such as corporate legal counsel and private investigators; and inviting professional investigators to interview employees and ask the right questions.

 

Read more news in Business Tips

Marks’ stories have also been published in a variety of newspaper, magazine and online formats including The Arizona Republic, The Daily Herald, Arizona Foothills Magazine and various classroom magazines of Scholastic Inc. Service is her passion, writing is her platform and uplifting and inspiring the community is her purpose. Marks received a Bachelor of Arts in Journalism and Mass Communication from Arizona State University.
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