What is the danger?
A bad employee can topple a company.
Amount stolen annually from US businesses by employees – $50 billion.
- Percent of annual revenue lost to theft or fraud – 7%
- Percent of employees who have stolen at least once from their employer – 75%
- Percent of employees who have stolen at least twice from their employer – 37.5%
- Percentage of business bankruptcies caused by employee theft – 33%0% of all business failures are caused by employee theft!
Violence in the workplace is alarming!
Nearly 2 million American workers report having been victims of workplace violence each year!
The 3 of the most common lies job seekers tell:
- Education embellishments. Samuel's has found that people try to make more of a course or two they took than they should. "We’ve had someone put down Cornell School of Hotel Management on their resume when they only took one class online,” he says. “[The candidate] didn’t graduate from there or even attend in person.”
Better bet: Instead of embellishing your academic credentials, think about what you can add to your resume to demonstrate your education. Other professional development, honors or awards, and extra coursework might be relevant, says Isaac's.
- Date deception. Another common deceit is to cover up employment gaps by “stretching dates for one or two jobs to cover a time gap, or fabricating an interim job,” says Isaac's.
Better bet: It’s sometimes a good strategy to preemptively squash concerns an employer may have about gaps on your resume, says Isaac's. If you took time off to raise a family, care for a loved one, go back to school, or take on an independent project, explain your circumstances in your cover letter and be sure to stress how committed you are to finding a job you can grow with.
- Skill stretching. Many job candidates offer up a laundry list of technical proficiencies, but just because you used a program a few times doesn’t make you an expert. The same goes if you claim to be fluent in a language just because you took a year of it in high school.
Better bet: Only list skills that you are truly prepared to demonstrate on the spot.
Even if you weed out a bad employee before they do irreparable damage, they have already cost you! Recruiting Times estimates that the cost to replace employees are...
- $7,000 to replace a salaried employee
- $10,000 to replace a mid-level employee
- $40,000 to replace a senior executive
Here’s one last FACT, knowing the truth before an employee becomes a problem can save you from...
- Lost productivity
- Damaged reputation
- Material theft
- Criminal operations'
- Liability costs
- Training losses