For retailers around the globe, one of the greatest sources of loss comes from the inside. The problems of employee theft and payroll fraud are real. Growing at a rate of 5.5 percent every year, internal issues are having a significant effect on the bottom line.
Unfortunately, this is happening more often than many retailers realize. A recent survey revealed that 60 percent of retail employees admitted to committing time theft in 2012, and 34 percent of the 18- to 29-year-olds surveyed believed that stealing from an employer is justified.
Entire books have been written about workplace culture, and the various economic and psychological reasons behind why an employee may steal. Many employees simply feel they are entitled to a raise. Others may steal to meet a financial obligation or personal need. But one painfully simple answer can speak for many cases: because the employee believes that it’s easy, and that they can get away with it.
Read the full white paper: Biometrics – The Future of Loss Prevention is at Your Fingertips.