The frequency of employee theft and violence is increasing every year. However many companies still do not subscribe to a good quality pre-employment screening practice. The cost per employee for basic background and credit checks are minimal when compared to the statistics listed below. The impact on business and the country in general is incalculable.
People are just not as honest as they used to be. Lots of job applicants each day choose not to divulge their criminal past and just as many companies choose not to investigate. Each and every applicant should be subject to a national criminal search at a bare minimum.
Employers should also be concerned with a potential workers credit standing. A person with shaky credit may not be the best choice for certain finance related positions. The fact is you cannot rely on a person’s word in today’s world. The stakes are just too high. For instance to replace a salaried employee it will costs about $8,000, to replace a mid level employee you’ll lose nearly $12,000 and if you need to replace a senior executive you could be out $44,000. This makes workplace violence is the leading concern of security managers and human resource personnel today.
“Workplace violence is the leading concern of security managers in America’s largest corporations” – Security Magazine
Here are some alarming statistics:
30% of all businesses close as a result of employee theft
$40 billion/year is lost to businesses because of workplace theft
$450,000/year is the average cost to mid size and big business for embezzlement
$36 billion/year is the cost to businesses from workplace violence
60% of workers experienced violent incidents in their workplace- Workplace Violence Survey / Society for Human Resource Management
750%-The increases in workplace violence since 1998
25%/year-Workers reported that they have been threatened / attacked in their work place
Homicide is the leading cause of job-related death for women. Homicide is the second leading cause of job-related death for all workers
Do you know who you’re working with? Does your company run each applicant through an employment screening process? Well I hope so for your sake.
There are way too many risks in business you cannot just screen away, so don’t turn a blind eye to an easy to cure situation.