Did you know that 75% of employees have stolen at least once from their employer? Learn more in the new article "The Battle to be a Profitable Restaurant: How to Deal with Employee Theft" by Robert A. Benson, Manager - Restaurant Operations that appears in the newest issue of KROST Quarterly.

"Most restaurant operators are engaged in a battle to protect margins from increasing labor costs, food prices, new tax laws that adversely impact sales, and the added cost of delivery (driven by increased demand), just to name a few. Most of these examples are areas that are beyond an operator’s control. However, there are opportunities when operating a restaurant, to win the margins battle.

One area to manage, which may seem insignificant, but is a silent killer in business, is employee theft. The amount in the restaurant business stolen by employees is about $6 billion dollars annually. The percent of annual revenues lost to theft or fraud is 7%. Believe it or not, 75% of employees have stolen at least once from an employer and 35% have stolen at least twice.

With these kinds of statistics, it is not only extremely important to be vigilant with all employees, but..."

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KROST Quarterly is a digital publication that highlights some of the hot topics in the accounting and finance industry. Volume 2, Issue 2 covers hospitality trends and news including California sales tax compliance, employee theft, data breaches, Wage Order 7, trends in restaurant technology, and more.

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