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The daily struggle small business owners go through is pointedly illustrated in this sad fact revealed in a recent nationwide survey of executives: More than half, 54%, of the respondents believe an employee will steal company funds, equipment, inventory or merchandise over the next year.
Notably, the survey was commissioned by Chubb — a multi-billon dollar insurance conglomerate with an interest in insuring business clients against losses. The survey itself is entitled the 2010 Chubb Private Company Risk Survey, so the questions could have been slanted to get a certain answer.
Still, the answer to the theft question is clearly indicative of the mindset of executives.
The survey, which polled 450 decision-making executives at private companies, 90% of which have annual revenues of less than $25 million, revealed some other nuggets. The highlights:
• One in four executives say their firm will change its employee benefits plan over the next 12 months;
• Nearly half, 44%, of the respondents expect to hire people by the end of 2010;
• More than half of the executives, 54%, plan to expand product or service offerings by the end of the year;
• A small minority of respondents, 12%, anticipate they will complete a major acquisition before 2011.
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