“SHRINKAGE” is the Industry Term to Describe Theft or the Mysterious Disappearance of Assets from a Company is the industry term to describe theft or the mysterious disappearance of assets from a company.
Based on the average of various knowledgeable authorities, 4.2% of the gross revenue of a company is stolen by employees. For example, if a companies’ annual gross revenue is one million dollars then employees are stealing $42,000. Or, if an American made automobile costs $20,000 to manufacture than 840 bucks is added to the price to cover employee theft. Theft by employees takes many forms: embezzlement by employee, outright stealing of inventory, raw materials, scrap, time-card cheating, phony disability claims or worker’s compensation claims, phony FMLA excuses, embezzlement of cash or receivables, [...]