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clintonmtdr

Safeguarding Your Business From Criminal offense

This week's troubles on Wall Street make me remember an earlier downturn in the 90's in the financial services industry after i was a VP of HR to get a large national retail and mortgage bank. While working in this industry, I managed two separate selective reductions in force affecting about 85 employees, plus a plant shut down of approximately 330 employees.

Certainly it was a difficult time for me personally and for my employees. My husband called me "the black widow" then, asking me at the end of each workday what number of employees I'd over. Once I finished managing the plant shut down, When i received my own severance package and exited the company to begin individual HR consulting utilize. I'd been offered the option within a transfer to another division or a severance package. Quite honestly, I didn't want to manage anymore RIFs even though I'd become person matter expert, then i opted for the severance package.

As the economy tightens, overall criminal activities increase drastically. This includes every type of crime from theft & embezzlement to workplace violence and corporate espionage. The American Bankruptcy Institute reports that consumer bankruptcy filings rose to 1.06 million in 2008, compared with 801,840 during 2007 & that trend will be far higher in 09.

More and more, individuals are facing increased financial pressures; which leads to a sharp spike in every one areas of crime and litigious behavior. As individuals struggle with foreclosures, layoffs, rising expenses, increasing medical costs, and better interpersonal stress, these factors increase the chance that employees will steal from employers, or leave company taking company assets or other sensitive information with these people. Expect IP theft and identity theft to reach record highs in next year, and take additional precautions preserve your business' most precious assets.

Businesses both large & small are heading into bankruptcy in record numbers: 28,322 businesses filed in 2008 furthermore 29,960 in 1st three quarters of 2008 (according into the American Bankruptcy Institute), with no signs and symptoms of slowing down anytime soon. So it's not surprising to see theft & litigious activity sky-rocketing. The US Chamber of Commerce estimates that employee theft costs businesses $40 billion dollars each year. This total is far the value of street crime losses annually in north america. The US banking industry reports losses of approximately $1billion annually which is well above the combined losses due to bank robberies. American businesses lose close to 5 percent of annual revenues to fraud resulting in staggering losses of around $638 billion (based on research via the Association of Certified Fraud Examiners). Compromised systems, data leakage, and network security vulnerabilities also top the list of damaging and criminal activities when the economy nose-dives. Businesses, governments and schools reported nearly 50 percent more data breaches last year when compared to 2007, exposing personalized records of a 35.7 million Americans, according to the Identity Theft Resource Center of San diego, ca. Organized crime rings are expanding, using insider employees, and are liable for much of this theft. retail outplacement The FBI states that employee theft is the fastest growing crime in america today.

Businesses should the particular effects of prior employees as well as recently laid-off employee behaviors, in addition to existing employees. Employers and managers often overlook their existing employees who possibly be outwardly happy to experience job but inwardly feel they are owed more through company for their loyalty, because their pay or options have been reduced, or simply as they quite simply often feel permitted to have more. The incidence of Workers compensation claims are already increasing and incidents of petty theft internally within companies is at an all-time high.

Don't be the product, buy the product!

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