Of all the reasons that businesses fail in today’s market, challenges such as competition, financial mismanagement, leadership failure, and disconnection from consumers are sure to top the list. A less commonly recognized factor is the costly challenge of managing theft.
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The Cost of Loss
A study conducted by the University of Florida estimates that employee theft is the cause of about 48% of inventory shrinkage in business. That’s equal to more than $15 billion per year. The study goes on to estimate that the average loss cost per employee is in excess of $1,300, which is significantly higher than the cost normally attached to individual incidents of shoplifting, which is just over $207. Consequently, businesses are forced to spend a great deal of time, effort, and money on loss prevention.
Thirty percent of business failures are due primarily to employee theft.
Identify Issues Before They Happen
Profiles International offers employment pre-screening assessments to help you prevent employee theft by hiring honest, dependable employees.
Pre-employment screening with the Step One Survey II®
is an employer’s first step in evaluating a job candidate’s qualifications for employment. It should be an integral part of your overall employee loss prevention system.
Step One Survey II®
is a two-part employee pre-screening tool:
- The first portion of the Step One Survey II®
is a direct admission structured interview. Interview questions seek information about recent work history, record of honesty, drug/alcohol use, and related issues. The company will evaluate the candidate’s suitability for employment and review the results of this "interview."
- The second part of the Step One Survey II®
is an assessment that discovers the candidate’s attitudes toward integrity, substance abuse, reliability, and work ethic.