Just because your staffers aren’t capable of Bernard Madoff-caliber fraud, it doesn’t mean you shouldn’t be vigilant — and pay particular attention to a surprising type of employee.
On top of the usual side effects of a recession, companies need be more careful than ever to watch out for employee theft.
Approximately 20% of employers now feel that workplace theft has become a moderate to ample problem recently, according to a recent survey form the Institute for Corporate Productivity Inc., with HR.com.
The survey found that theft varied from fraudulent transactions to missing cash, retail products and office supplies.
Sure, there’s nothing too shocking about these findings. After all, tough financial times are a great catalyst for bringing out the worst in people. But you may be surprised to see who research says is actually committing these internal crimes.
The makeup of a thief: Senior-level employees, with tenure of around 7.5 years, commit 25% of all reported internal frauds. That’s according to a separate Pricewaterhouse study.
Other fraudster features include:
- Mostly male (85%)
- Between 31 and 40 (44%), and
- Highly educated — bachelors degree (38%) and a postgraduate degree or more (12%).
In short, that portrait basically describes a firm’s most trusted employees.
