Employee Theft, Shrinkage, and the Retail Theft Database

Corra Group listed some interesting employment statistics about Employee Theft.

Nearly 80% of the workforce admit they would or at least would consider stealing from their employers

Employee theft costs businesses between $60 and $120 Billion, annually.

49% of the employees steal for greed, 43% steal out of vindictiveness, and 8% claim they steal out of need.

Employee theft is the cause of 30% of business failures

According to one survey, a business can lose to theft up to 20% of every dollar earned

While most employers conduct a minimal criminal history examination as part of their pre employment screening program, such as a nationwide criminal database search or a county criminal search, most are not aware of the significant of the Retail Theft Database, or the benefits of conducting a retail theft database search on your prospective job candidates.

Background checks will help you determine if your employees has a history of stealing from his previous employes. One of the most important resources for hiring employers is the Retail Theft Database, which provides you with access to a nationwide database of shoplifting and employee theft incidents from almost one thousand member companies. Most employee theft incidents are never prosecuted, meaning that the information in the National Theft Database is not available anywhere else. It contains exclusive information shared only between members. It is constantly updated with new incidents. Information in the National Theft Database is fully compliant with the FCRA.