TORINITY WORKFORCE TRAINING
Now, more than ever, employers must be diligent about training their workforce on misconduct and illegal behaviors relating to their employment. Torinity delivers comprehensive solutions that address occupational theft/fraud, harassment and workplace violence.
Occupational Fraud: The Cost
In 2016 the Association of Certified Fraud Examiners reported that the median business loss from a single case of occupational fraud in the U.S. is $120,000. Government occupational fraud victims suffered a median loss of $194,000 at the federal level, $100,000 at the state level, and $80,000 at the local level. More than 23% of occupational fraud cases result in a loss of at least $1,000,000.
A typical organization is estimated to lose 5% of its revenues in any given year as a result of occupational fraud. Studies show that the average embezzlement costs the victim institution $1,000,000, and that 5% of employees in any given place of work have stolen at least twice from their employer. Even scarier, 33% of all business bankruptcies are caused by employee theft. Those are significant hits to an employer’s bottom line; and a tragic loss of taxpayer dollars in the case of government institutions.
Workplace Violence & Harassment: The Cost
More than 29,000 acts of rape or sexual assaults are perpetrated against women at work each year. Domestic violence costs employers $727,800,000 in lost productivity. Further, workplace bullying has been estimated at a cost of $250,000,000 annually in health care, litigation, employee turnover and retaining expenditures for employers.
The American Psychological Association estimated that bullying and other types of abuse behaviors cost businesses $300B annually in lost productivity, absenteeism and turnover as well as increased medical expenditures.
When an employer is sued for harassment, intentional infliction of emotional distress, hostility, or wrongful termination, it results in a tremendous cash outlay, with reports providing that median settlements are $7,500 each, and the median award for plaintiffs that go to jury judgment being in the six figures. A legal claim by an employee against an employer for harassment can range from $50,000 to $250,000 to defend.
Companies have a responsibility to maximize value for their shareholders and owners, and Torinity’s workforce training can help businesses avoid needless financial losses resulting from workplace misconduct and crime.
Governments, Federal, state and local, must be good stewards of taxpayer dollars. Payouts to settle harassment claims and payments on judgments for government employee misconduct are a waste of voter monies. Even the time spent by government officials defending and addressing such incidents on individual bases are a drain on government funds. Responsible and accountable government hires Torinity to help protect the hard-earned money taxpayers entrust it with.
The Right Thing to Do
In addition to reducing the massive hits to your institution’s financial condition, training your workforce on harassment, theft and violence is the right thing to do. Employers have a moral responsibility to create a workplace environment devoid of harassment, violence, criminal activity and misconduct. Be a leader in healthy workplace culture by letting Torinity’s consultants train your employees on being good company citizens.