$600 billion in workplace theft and fraud. Yikes. So, what are you doing?

I recently finished reading Predictably Irrational by Dan Ariely. Fascinating book.

And depressing.

In it I found this:

“In 2004, the total cost of all robberies in the United States was $52.5 million, and the average loss from a single robbery was about $1,300. These amounts are not very high when we consider how much police, judicial, and corrections muscle is put into the capture and confinement of robbers–let alone the amount of newspaper and television coverage these kinds of crimes elicit.”

And then:

“But consider this: every year, employees’ theft and fraud at the workplace are estimated at about $600 billion. That figure is dramatically higher than the combined financial cost of robbery, burglary, larceny-theft, and automobile theft (totaling about $16 billion in 2004); it is much more than what all the career criminals in the United States could steal in their lifetimes; and it’s also almost twice the market capitalization of General Electric.”

$600 billion in workplace theft and fraud. Yikes. Depressing. That’s a whole lotta loss. Maybe it’s improved since then. Maybe not.

So, what are you doing — or planning to do — to develop your employees and management for the better?

Take the new Glowan 17-Second Survey on People Development and help answer that question.

Thank you.

Be better and brighter.


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