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 as i was a VP of HR to acquire a large national retail and mortgage commercial bank. While working in this industry, I managed two separate selective reductions in place affecting about 85 employees, plus a plant shut down of approximately 330 employees.

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

As the economy tightens, overall criminal activities increase radically. 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 just one.06 million in 2008, compared with 801,840 during 2007 & that trend will be far higher in this year.

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

Businesses both large & small are heading into bankruptcy in record numbers: 28,322 businesses filed in 2008 along with 29,960 in the first three quarters of 2008 (according to the American Bankruptcy Institute), with no symptoms of slowing down before long. 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 in excess of $1billion annually in which well above the combined losses consequence bank robberies. American businesses lose close to 5 retail outplacement 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 1 / 2 more data breaches last year than in 2007, exposing the personal records of quite 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 the boss of much of this theft. The FBI states that employee theft is best growing crime found today.

Businesses should the actual effects of prior employees as well as recently laid-off employee behaviors, electronic files . existing employees. Employers and managers often overlook their existing employees who in a position to outwardly happy to have a 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 comp claims are already increasing and incidents of petty theft internally within companies is at an all-time high.