

Muninder Adavelli
Updated · Jun 01, 2023
Teodora devoted her whole life to words – reading, writing and trying to be original on social med... | See full bio
Trust is like a mirror.
You can fix it if it’s broken, but you will still see... the million-dollar losses from employee theft.
Think the people you hired aren’t part of the problem?
Think again.
According to employee theft statistics, 95% of workplaces have faced huge issues because of it.
But that’s just the tip of the iceberg.
Proceed with caution; the following stats might ignite paranoia:
But wait, there’s more!
From hoarding pens and wasting hours of precious time to stealing money, employee theft has many faces.
Take a look at these workplace theft statistics:
(Total Security Advisor)
Investing in people is maybe one of the most important decisions you’ll have to make as a business owner. Most of the time, you can only hope you’ve made the right choice.
That’s precisely why this shocking statistic hurts so much.
You have every right to worry.
(Embroker)
Ain’t that neat?
The people you trust with your money are the ones that steal from you.
Employee theft statistics also show that more than half of the people would steal from the businesses they work for if they knew they wouldn’t be caught.
(Stealth Labs)
That’s certainly taking a huge toll on companies.
Businesses lose roughly 7% of their revenue due to workers stealing. That’s truly disheartening.
(CompareCamp)
Most of the time, this occurs for about five years.
Can you imagine the impact?
No need to try, I’ll tell you.
(Embroker)
That’s how bad company theft is.
Is stealing really worth it? If only they would do their job and build a promising career instead of bringing the company to its knees.
What kind of a person does that?
Did you guess who steals the most?
Let’s see if you were correct:
(Embroker)
Men are more likely to commit such crimes, fraud stats show.
Whether they do it for the sake of their families, because of dire need, or because they like the thrill, we’ll never know.
But what is more interesting is the age of these criminals.
(Embroker)
Employee theft statistics show that 34% of millennials justify stealing from their employers.
You’d expect them to be the number one offenders.
But you’re wrong!
It’s middle-aged people.
(JW Surety Bonds)
That’s another unexpected statistic and makes it even harder to guess who’d steal from you and why. But that doesn’t mean you shouldn’t run a background check before hiring someone.
It gets even better:
(CompareCamp)
Given that most companies require at least a high school education, this makes sense.
However, we can’t help but wonder what they teach people during their master’s? Are there “Stealing is bad 101” classes?
Now let’s discuss the differences between employee theft cases.
Cases include, but are not limited to:
Let’s take a look at the numbers:
(ACFE)
Workplace theft statistics show that skimming costs a company $2,900 per month on average.
The median monthly losses for check and payment tampering sit at $4,600.
Losses add up and ultimately lead to bankruptcies.
(CompareCamp)
Nothing too surprising here. The easiest way to hide money before they’ve been accounted for is to be the one logging them in.
What about employee data theft statistics?
Well:
(JW Surety Bonds)
Most of the time, the cases include intellectual theft. You’d rarely see someone stealing inventory in tech firms.
The same can’t be said for retail, though.
(JW Surety Bonds)
These retail theft statistics are far from optimistic. Employees steal clothes, food, cosmetics, tech gadgets, and more. The bankruptcy stats suddenly make more sense.
(CompareCamp)
According to internal theft statistics, even using the printer for personal reasons counts as employee theft.
But what can you do to prevent such cases?
Before I give you the know-how, we have a few statistics on employee theft prevention to share.
(ACFE)
Finally - light at the end of the tunnel!
Half of the time, workplace theft cases are solved thanks to diligent workers.
If you have a good relationship with your employees, they’re less likely to steal from you. And, if it happens, the loyal ones will let you know.
Another 22% of tips come from customers.
But that’s not the only way.
(ACFE)
Here’s another recommendation: keep up to date with your internal audits. Don’t warn anyone about them. Check bank statements, inventory, and cameras.
Also:
(ACFE)
People are less likely to steal if they have a boss who’s involved with the company dynamic. One-on-one meetings are an excellent way to see if there are any issues. Reviews are also very beneficial.
Make sure your company has clear policies. Protect sensitive data and don’t give many people access to it. Try to set a good example and be as present as possible. As earlier discussed, an employee wouldn’t commit a crime if they knew they’d get caught.
Oh, and by the way - good employee monitoring software will make the whole job a lot easier.
Constant vigilance, folks.
Workplace theft is no joke.
It can lead to dire consequences. Using the company printer is, in hindsight, harmless. But most other issues can lead to money loss or even bankruptcies.
The good news is that it can be avoided, to an extent.
Keep up with the workplace theft statistics and make sure to have loyal employees. The rest, we fear, is up to fate.
Teodora Dobrilova
Teodora devoted her whole life to words – reading, writing and trying to be original on social media. She got certified in digital marketing but still feels she’s not cool enough to be an influencer. (We all disagree – she influences the team pretty well.) She finished a master’s degree focused in Literature, Publishing, Mass Media. Her hobbies include traveling, and reading. Teddy hopes that yoga will be the thing to finally teach her some patience and show her the path toward world domination. Maybe modern tech can also help her with that.
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