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Industry Data & Statistics
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Infortal's Statistics


Over the last 30 years, Infortal has reported the following statistics for:

 

A. FULL TIME EMPLOYEES (across all industries):
       
 

Employment history discrepancies

  25 to 35%
 
Education discrepancies
  10%
 
Driving violations*
  8%
 
Criminal Convictions
  5%
 
TOTAL OF ALL NEGATIVES FOUND:
  48% to 58%
       
       
B. TEMPORARY EMPLOYEES: Discrepancies   70%
       
C. EXECUTIVES: Discrepancies   20%

*Driving convictions & serious violations

 

Industry Statistics

 

Employee Turnover is Expensive

 

  • The average cost of the problem hire is 1.5 times the person's annual salary.
  • Damage to morale is a significant additional cost because it is frustrating and time consuming to train new employees who don't work out.
  • On average, in U.S. businesses, at least half of all new hires "don't work out" (Fortune Magazine).

 

Resume Falsification

 

Many national surveys indicate that lying on resumes appear to be on the rise.

 

  • 49% of hiring managers reported they found candidates lying or misrepresenting information on their resume (Source: CareerBuilder.com, June 2008).
  • According to this survey, the most common falsifications include:
    • Embellished responsibilities 38 %
    • Skill set 18 %
    • Dates of employment 12 %
    • Academic degree 10 %
    • Companies worked for 7 %
    • Job title 5 %
  • From 1992 to 2001, the average cost to settle a negligent hiring lawsuit was roughly one million dollars. The highest award in the United States for a negligent hiring case was $26.5 million (source: Human Resource Management).
  • The cost of a bad hiring decision can be as much as 25 percent of a new employee's salary.
  • When you add to this the time and costs of recruiting, hiring, and training a new person, the mistakes made by new employees, and the cost of customers lost, it becomes a tremendous drain on a company's resources (source: Department of Labor, 2006).

 

Workplace Violence & Substance Abuse

 

  • Over the past 5 years, 2004-08, an average of 564 work-related homicides occurred each year in the United States (source: Bureau of Labor Statistics).
  • In 2008, a total of 526 workplace homicides occurred, or 10 percent of all fatal work injuries (source: Bureau of Labor Statistics).
  • Some 2 million American workers are victims of workplace violence each year (source: OSHA of Department of Labor)
  • Nearly 5% of 7.1 million private industry businesses had an incident of workplace violence within 12 months (source: Survey of Workplace Violence Prevention, 2005, Bureau of Labor Statistics). Of those statistics, 21% reported that the incident affected the fear level of their employees and 21% indicated that the incident affected their employees’ morale.
  • Over 70% of workplaces do not have a formal program or policy that addressed workplace violence (source: Survey of Workplace Violence Prevention, 2005, Bureau of Labor Statistics).
  • Assaults and violent acts represent 16% of all fatal work injuries that occurred in 2008 (total number of assaults & violent acts: 5,214) (source: US Bureau of Labor Statistics)
  • 74.8% of the 17.2 million illicit drug users aged 18 or older in 2005 were employed either full or part time. (source: OSHA, Department of Labor)
  • Alcohol costs American businesses an estimated $134 billion in productivity losses, primarily due to missed work. (source: Department of Labor)

 

Employee Theft

 

  • $994 billion attributed to employees stealing from their employers (source: ACFE, Institute for Corporate Productivity, Jack Heyes International, Inc)
  • The typical organization loses an estimated 5 % of annual revenues to fraud. Applied to the estimated 2009 Gross World Product, this figure translates to a potential total fraud loss of more than $2.9 trillion among organizations, despite increased emphasis on anti-fraud controls and recent legislation to combat fraud. (source: ACFE)
  • A study of over 1,000 merchants, financial institution executives and 5,000 consumers showed:
    • For every $100 dollars in fraudulent transactions the retailer will bear the cost of around $310. In 2009, the study showed $191 billion in estimated losses from fraud (source: Study by LexisNexis Risk Solutions in conjunction with Javelin Strategy & Research, 2009)
    • The study predicts retailers will lose around $139 billion as a result of identity theft, lost or stolen merchandise and lost interest and fees from charge backs in 2009. (source: Study by LexisNexis Risk Solutions in conjunction with Javelin Strategy & Research, 2009)
  • The duration of an average Fraud situation lasts a median 18 months before being detected (source: Report to the Nations on Occupational Fraud and Abuse, 2010, ACFE, survey of 106 nations)
  • The median loss caused by occupational fraud cases was $160,000 (source: Report to the Nations on Occupational Fraud and Abuse, 2010, ACFE, survey of 106 nations)
     

 

Nearly one quarter of fraud involves losses of at least $1 million. (source: Report to the Nations on Occupational Fraud and Abuse, 2010, ACFE, survey of 106 nations)

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