Chicago Daily Herald

August 17, 1999

STUDY: 79% STEAL FROM THEIR EMPLOYERS

A new study shows that 79 percent of employees steal from their employers.

Michael G. Kessler & Associates Ltd., a new New York-based investigative firm, found that even the most "loyal" employees steal. In fact, Michael Kessler said in an interview that companies should watch those "extremely loyal" workers hardest. "It's usually a guise so that you suspect someone else."

The study surveyed more than 500 people across the country with annual incomes ranging from $ 27,000 to $ 75,000. The overwhelming conclusion is that no matter how much employees make, there is a chance they will steal if they think they can get away with it.

"I don't want to paint the picture that everyone is stealing," Kessler said, "but if you leave the cookie jar open ... "

Kessler uses a very broad definition of stealing, including those who surf the Internet for personal reasons while at work, make personal telephone calls, submit padded expense reports, and take pens and notebooks from company supplies.

The majority, 49 percent, stole for greed. Just 8 percent said they stole because of financial need. Most surprising, however, was the 43 percent of respondents who said they stole because they were angry with their boss.

Nearly 87 percent of respondents admitted to falsifying their time sheets, or stealing time from the company and getting paid for hours they did not work. "We couldn't quantify the amount of time stolen, but it is sizable. It definitely affects the bottom line," Kessler said.

"Those are shocking figures," said Yvette Venable, spokeswoman for Walgreen Co. "Theft is a real concern, but we focus more on missing merchandise and money than time."

Such seemingly harmless actions cost companies more than $120 billion a year, Kessler said.