Many industries have to keep a close watch on shrinkage, which may be factored in different ways, depending on the sector in question. For example, as it pertains to restaurant businesses, the shrinkage component of food costs will often contain a waste or internal theft element.
You cannot reliably depend solely on background checks to expose potential problem areas regarding new recruits. The statistics surrounding criminal activity that occurs prior to apprehension is very alarming. For example, according to the Franks Foundation, a not-for-profit organization dedicated to protecting America’s children, the many of those convicted for assault can actually commit dozens of assaults before being caught. Many other criminal categories also offer disturbing pre-arrest activity metrics. In addition to the direct costs associated with employee misconduct, companies in today’s age of social media can also be subject to severe risk related to character flaws in their workforce.
Because our Value Science foundation isn’t vulnerable to examinee gaming and/or manipulation as is typical of traditional alternatives, we can perform powerful pattern analysis that makes it possible for significant discoveries to be realized. As a result, customers can gather value structure data and corresponding emotional intelligence (“EQ”) in order to draw comparisons between involuntary termination records and applicant pools and/or employees with highly regarded work histories.
Customers who utilize our analytic services in this capacity have been able to substantially diminish their exposure to these types of losses. Our participation in one company’s risk management strategy in this area has been proven to play a role in avoiding losses by 7-figure financial proportions.