Even before the financial overturn happened in Wall Street this year, there had already been several losses that American companies have been reporting about. These losses are no joke and pose greater risks because of the figures that are not just on the level of thousands but of billions and a timeframe of a year.
If today’s financial problem has been rooted to a more complicated issues on economic policies and other international investment disparagements, the older problem is rooted on the premise of internal embezzlement of none other than the companies’ employees. Yes. Sad to accept but American businesses have been ailing for quite some 40 billion dollars of losses caused by company theft and other embezzlements. Though this problem might seem to be a parody of the employers or a complete exaggeration to front the government of tax evasion, this has never erased the fact that the problem in employment theft is a reality and is really destructive.
In a survey posted at Inquest’s website, 30% of failures in the businesses in the land is said to be the end product of large and small scale company theft and dishonesty. Almost all types of businesses in America experience the same fate. Most of the time, companies with most losses are those which has something to do with merchandising and direct selling. Critically, the country is loosing honest employees or is just being tolerated by ignorance of the employers.
Almost all establishments in the US these days are already equipped with high end surveillance systems. Almost every corner of the office, store, or even outside premise of a company is installed with cameras that monitors every move of employees and clients alike. These systems are said to have been installed in order to avoid any theft that can happen both internally and externally. However, surveillance systems are not the only way to solve this classic problem. Same website suggested that if all companies take it by heart to conduct background checks on all their employees and applicants, the number of incidents can be lowered.
However, how can an employee rob a company? What are the kinds or thefts that an employee can do to a particularly company? Basically, there are so many ways in which an employee can take advantage of the company illegally.
1. Falsifying Receipts – Most of the time, receipts are not computer generated. These are often hand printed. Dishonest clerks can forge receipts and charge a client of a higher price and have the difference kept in the employee’s pocket.
2. Stealing Merchandise – this is the most common theft that can happen in a store. Often, stolen products are those small and easy to keep ones. There are so many ways on how an employee may steal merchandise out of the store.
3. Cash Theft – this happens mostly to cashiers or those employees that receives payments. Especially to those that has no specific recording system, services or products can be sold without undergoing on a process.
4. Bookkeeping Fraud – receipts are very important in auditing. So there are times that in order for employees to get something from the company illegally, they would hide in receipts and declare a forged amount on the record.
5. Fake Purchases – employees may intentionally buy things and had it reflected on the record but the purchase did not actually happened. Or they can create imaginary suppliers which are actually just them.
Background check reports basically lay off a limit to these types of employees before they can be accepted to the company. The past records of a particular employee will tell you whether he/she is worthy of trust or not. Pre-employment checks are an effective way to save a company’s future. This is a solution that literally said as saving billions with 30 bucks.
