More than over half of private small company executives expect employees to steal something of value within the next year, nearly double the rate who have actually experienced such loss in the last five years, says a new survey.
The Chubb Private Company Risk Survey polled executives at 451 for-profit U.S. companies, almost all of which had annual revenue of less than $25 million. About 54 percent of those surveyed said they expected employees to steal company funds, equipment, inventory or merchandise over the next year.
Just 30 percent have actually experienced such theft in the last five years. Employee theft was seen as the second-most financially damaging event a company could experience, according to the survey. The most damaging event, the executives said, was an employment practices liability lawsuit.