As if it isn’t hard enough for businesses to stay in the black these days, a recent article by The Gainesville Sun points out that some companies may be letting money literally walk out the door due to the increasing prevalence of employee theft.
The article focuses on one particular business owner, Freddie Wehbe, who owns eight Domino’s Pizza franchises. Wehbe recently found that one of his employees stole from him by manipulating the way pizzas were accounted and paid for, costing the business more than $10,000. Since then, he has begun background and drug testing employees, and he has hired an auditor.
Wehbe is not alone. The article noted that the FBI has identified employee theft as America’s fastest growing crime, and The Association of Certified Fraud Examiners statistics show that businesses lose seven percent of their gross revenue due to internal theft. In fact, they have determined that the average business loses $9 per employee per day! And the U.S. Chamber of Commerce attributes almost a third of all business failures to employee theft.
As FoxHire mentioned in a previous blog post, while many employers are diligent about screening their own employees, they may overlook checking the backgrounds of their contractors who are employed by staffing agencies that don’t always conduct background checks. But if you use FoxHire as your back-office service provider for the contractors you place, you can assure your clients that ALL contractors we employ are background screened and that we conduct drug testing on all of our healthcare candidates.
