Every organization inevitably aims to attract the best possible talent, and invests heavily in training new hires. In making these efforts, hopes lie in building a cohesive and dynamic team ready to take on the world. To some extent, a degree of employee turnover is to be expected—a frustrating but realistic aspect of running a business. However, when that turnover begins to escalate, costs mount quickly and progress becomes dogged by a sense of “one step forwards, two steps back”.
So, what drives a ramped up rate of employee turnover? More often than not, the core issue is the health-status of existing corporate culture. Here, we’ll dig into exactly what that means and the warning signs that you can watch for, before examining the value of a corporate investigation for illuminating an effective turnover and retention recovery strategy.
Counting the Cost of Employee Turnover
You might be wondering, why does employee retention matter so much for your business? If you’ve never tallied the costs of recruiting and training replacement employees before, you may be in for a shock. Research from Gallup indicates that the true cost of filling the hole left by a departing employee usually ranges between one-half and two times that employee’s annual salary. What’s more, Gallup warned that these estimates can be considered conservative, while highlighting that they don’t take into account unquantifiable impacts such as damage done to team morale, customer relationships, and brand reputation.
The Importance of Recruitment and Onboarding Strategies
One of the simplest stumbling blocks to excise—particularly when employee turnover is running rampant in the early stages—is a flawed approach to recruitment and onboarding. This critical factor for employee retention begins at the first stage of the hiring process, with the clarity of job descriptions. Research from Allegis Group revealed a dramatic disconnect in this area, with 72% of hiring managers believing that they were providing clear job descriptions, while only 36% of candidates felt that this was the case.
Once a hire is made, the onboarding process is just as key to minimizing employee turnover. While a negative onboarding experience—or no onboarding experience at all—doubles the chances of an employee seeking work elsewhere, an excellent onboarding process can provide a 52% increase to retention rates. Nurturing new hires as they hit the ground running is a solid investment indeed.
The Corporate Culture Connection
It is well documented that corporate culture drives engagement, employee satisfaction, and productivity. When we consider the potential consequences of failing corporate culture—disengagement, poor team dynamics, and even workplace bullying, to name but a few—it is no surprise that a culture crash and soaring employee turnover are bound to go hand in hand.
According to research from Career Builder, a staggering 46% of workers who realized their new job was a bad fit cited toxic work culture as their primary cause for concern. Beyond escalating turnover, other indications that corporate culture may have taken a nose-dive include gossip and negativity in the workplace, unexplained falling profits, low employee attendance, clique-like behavior, and unhealthy competition between employees.
Getting a Handle on the Situation
When the root cause of ramped up employee turnover is elusive, the launch of a corporate investigation becomes the best possible course of action. When working between the complex and layered factors that can cumulatively trigger increased turnover, HR personnel and management can find themselves unable to see the wood for the trees. In contrast, an external investigator is optimally equipped to assess current corporate culture, management practices, and other elements at work in order to lay a path to resolution and rewards. If you would like to learn more about how Corporate Culture Audits from Lauth Investigations can help you increase employee retention rates, contact our team today.
Does your company need a climate change compliance investigation? The answer is most undoubtedly yes.
In the continuous uphill battle of combating climate change across the globe, the evidence that corporations bear the bulk of responsibility has become more undeniable than ever. Just over four years ago, the Guardian reported that just 100 companies were responsible for 71% of global emissions, but little has been done since then to hold corporations in general responsible for how their carbon footprint dwarfs that of any individual citizen of the world. Now, only two days ago, the U.N. Intergovernmental Panel on Climate Change (IPCC) released their anticipated report on the impact of human behavior on climate change stating that the evidence is undeniable—we are causing the land and oceans to warm up faster than they have in 2,000 years in what is being characterized as a “code red for humanity.”
As corporations seek to mitigate their impact on the alarming rate of global warming, the first step is to clean your own house. Leadership must consult experts in mitigating climate change to learn how their own internal processes may contribute to their carbon footprint, and subsequently comply with those recommendations. However, when it comes to independent contractors and vendors your corporation does business with, leadership must be vigilant about ensuring that those associates are also complying with climate change mitigation. To ensure that their corporation is not supporting noncompliant contractors and vendors, leadership can hire a private corporate investigator to verify their level of compliance.
In a climate change compliance investigation, private investigators have the foremost advantage of subterfuge and anonymity when conducting field investigations. In compliance investigations, its always best if the corporation being evaluated does not know they are being evaluated. A private investigator who conducts a climate change compliance investigation can enter the company’s infrastructure undercover, perhaps disguised as a vendor or a client. Armed with state-of-the-art surveillance equipment, private investigators can document the unseen factors within. All evidence is compiled in a comprehensive report and turned over to the client to be used at their discretion.
If your corporation needs the peace of mind that your vendors and contractors are being compliant with your mission towards mitigating your carbon footprint, call Lauth Investigations International today at 317-951-1100 or visit us online at our website to learn more about our corporate investigation services.
Corporate mergers are inherently a tricky business. Not unlike a marriage, it’s the assimilation of two different corporate bodies to form a stronger entity. However, with that marriage comes the tricky business of evaluating the assets, how well two business models will mesh with one another, and how the workforce will be impacted by the merger itself. In the months preceding the merger, however, there is a long fact-finding process in which one or both companies will have a reasonable interest in finding corporate intelligence on the new arm of their structure. That’s where a corporate investigator comes in.
Finding corporate intelligence can be an opaque business in the sense that discretion is highly valued in the hopes of getting the clearest, most comprehensive picture of the corporate entity in question. Parent companies, or companies with the most to lose in a merger, will typically be the type of client a corporate intelligence investigator will see weekly in their careers. The need for this type of information is why corporate intelligence firms exist, so clients can get the clarification they need on the people with whom they are going into business. However, depending on the needs of an investigation, the involvement of a large corporate intelligence firm could still fly above the radar and compromise the needs of the investigation. In these situations a smaller to medium firm may be more appropriate.
An independent private investigator can answer almost any question that an inquiring client would have about a business—beginning with what is in the record, both publicly and otherwise. Through licensure by the state, private investigators are given access to millions of records available on both corporate entities and private individuals. With only a few pieces of information, a private investigator can get background on a company. No doubt, there will be obvious areas of interest, particularly what—if any—forms of litigation the company has been involved in. In reality, the best information comes from the background checks on individuals who drive the company’s mission and operations. After all, a business is only as good as its workforce, and leadership is one of the most important components. Private investigators can get comprehensive background checks on any and all subjects involved in daily operations and big-picture conception. Certain items in an employee’s background, like criminal history or personal litigation history can bring important albeit troubling context to any given concern in a merger situation. Their level of judgement and decision-making will be paramount to ensuring the longevity of the company in the merger.
In addition to verified licensed databases, a corporate intelligence investigator can also provide any online intelligence available from forums, communities, and platforms that allow for feedback and ratings of the business’s products or practices. At the conclusion of the investigation, a corporate intelligence investigator can provide a comprehensive file including all relevant intelligence discovered as the result of an online scrape of the company.
When on-site field investigations are required, the corporate intelligence investigator you need will be adept in hiding in plain sight so as not to pique suspicion of the subjects of the investigation. This sort of corporate intelligence investigator can get the full picture on any internal problems the subject company may be experiencing, such as repeated instances of theft, patterns of internal misconduct, or any number of items of interest during the course of a merger.
When discretion is the highest priority, CEOs and other forms of leadership should consider the expertise of Lauth Investigations International. Lauth Investigations International has over 30 years of experience working with corporations both big and small to make sure they get the answers they need in times of corporate uncertainty. We carry a glowing A+ rating from the Better Business Bureau and regularly receive 5-star reviews from grateful clients. Call 317-951-1100 for a free quote or visit us online at www.lauthinvestigations.com
When it comes to your business, you don’t know what you don’t know. Successful corporations are more than their bottom line, and corporations must be conscious of all their internal operations to ensure they’re getting their maximum output or profit. Leadership must be vigilant in seeking problems out in their organization to ensure there are no leaks in the bottom line. That’s why more executives are opting for seasonal corporate culture audits to identify corporate weaknesses.
Weakness is a subjective word, but definitively, we’re talking about structural or personnel weaknesses that contribute to weekly disruptions within the corporations. These disruptions can come in many forms, including employee misconduct, theft of trade secrets, external theft, and worker’s compensation fraud. Whatever the problem, a comprehensive corporate culture audit can serve as a net to catch these unseen problems. Purveyors of corporate culture audits can range from corporate intelligence firms to independent private investigators, but regardless of the size of the operation, diverse experience in corporate investigations is key. After all, the investigator must know what they’re looking for in order to identify corporate weaknesses.
Think of a corporate culture audit like a medical checkup for your business or corporation. Just like a medical checkup, a private investigator proverbially acts as a physician routinely looking for problems. Just like a physical, a private investigator can identify corporate weaknesses that the “patient,” or client, did not previously know existed. In this way, leadership can stay on top of things and eliminate any internal problems. The most pervasive corporate crises are likely to fly under the radar, with the perpetrator(s) making competent attempts to cover their tracks. Unfortunately, this means that the problem can go undetected until irreversible damage is already done, not unlike a debilitating disease that has gone untreated.
One of the greatest examples of these undetected risks is white collar crime. When it comes to misconduct, any official action will inevitably cross an executive’s desk. Because of their level of access and oversight into all company matters, it’s frighteningly simple for an executive to cover their own tracks in an ongoing pattern of misconduct. In the case of an independent private investigator, they can easily infiltrate a business and place themselves in a strategic position where they can observe and document the behavior of all employees without being detected. This preserves the integrity of the investigation and ensures that the executive cannot suddenly destroy all of the evidence. One of the most common is embezzlement, or other forms of financial fraud within the corporate structure. Hiring an investigator to complete a corporate culture audit not only buys oversight, but objective intelligence-gathering. When an investigator attempts to identify corporate weaknesses, they do it with an independent an objective point of view. This ensure that no stone will remain unturned, and that all results of the investigation are subject to only the highest level of scrutiny in any subsequent legal action against the corporation.
If your corporate needs a corporate culture audit, call Lauth Investigations International today at 317-951-1100 for a free quote on our corporate culture audit services. Our team of investigators is staffed by former military and law enforcement personnel, and we carry a glowing A+ rating with the Better Business Bureau. Call Lauth today to learn how we can identify corporate weaknesses with a corporate culture audit.
During the 2020 pandemic, people throughout the globe were struggling with detachment from their family, friends, and coworkers. In search of a connection with another human being, it should be no surprise that more than a few people would fall victim to online romance scams. However, in a shocking report by the Federal Trade Commission, losses due to romance scams increased by 50%. Romance scams have dominated the top position on the FTC’s list of fraud scams. More money is lost annually to romance scams than any other type of fraud in the United States. Since 2016, reports of romance scams have tripled, and the total dollar amounts lost have quadrupled. Given this alarming spike in numbers, it’s worth refreshing your knowledge on how these romance scams work and who is at risk for being a target.
Most are familiar with the timeline of an online romance scam. News stories and talk show segments about lonely people being “catfished” by online scammers are everywhere, and the number of these incidents appears to be on the rise. The reason for this rise in romance scams can be two-fold. To begin, the isolation of the pandemic in efforts to flatting the proverbial curve left many individuals with a desire to reach out and connect with another human being online. The internet is where romance scams thrive, and users who are attempting to scrape the bottom of the barrel of human interaction can be easy targets for criminals. In the same vein, following the COVID-19 restrictions that kept many Americans completely isolated from the outside world initiated an increase in internet usage. Without routine, in-person interactions with friends, family, and coworkers, individuals who were not habitual internet or social media users—or even internet literate—flocked to the world wide web in search of some form of human connection.
This perfect storm of circumstances created a perfect hunting ground for internet scammers to hook promising marks who could fill their virtual pocketbooks with cash and other assets. In the days before Facebook, online romance scams typically started on internet forums or in chatrooms. Now, scammers have fully adapted to the ways and language of social media. With Facebook, Twitter, Instagram, and Snapchat dominating the way we communicate, it’s easier than ever to bilk someone out of their hard-earned money in an online romance scam.
It is not a matter of if, but when these criminals will ask for money, and the longer you look at case studies for these online romance scams, the more colorful the reasons get. Sometimes the scammer claims they need funds to keep their phone or internet service connected—and therefore keep them connected to their mark. Sometimes the scammer will claim they need money to get out of a perilous situation so they can allegedly return to the United States and finally meet up with the mark in person. Regardless of the reason, there are almost always suspicious methods of getting this money to the scammer, such as wiring the money to another person whose name does not match the scammer’s persona. Or perhaps the money must be sent to a bank account in an unexpected part of the world.
Even more staggering is that the FTC’s data on the rise in online romance scams indicates that no age group is immune to these operations. The number of online romance scams went up in all age brackets of potential victims. In fact, according to the FTC, people between the ages of 20 and 29 saw the biggest increase in being targeted, while people 70 and older were reporting the highest losses in the neighborhood of $10,000. With so much at stake in online dating, it’s imperative that you know how to protect yourself from these scammers. Here are the FTC’s tips for avoiding online romance scams:
Never send money or gifts to someone you haven’t met in person – even if they send you money first.
Talk to someone you trust about this new love interest. It can be easy to miss things that don’t add up. So pay attention if your friends or family are concerned.
Take it slowly. Ask questions and look for inconsistent answers.
Try a reverse-image search of the profile pictures. If they’re associated with another name or with details that don’t match up, it’s a scam.
Corporations in 2021 cannot afford to shirk the exposure and customer relations benefits of the internet and social media. A social media presence allows a corporation to cultivate a personality with their customer base through platforms like Facebook, Twitter, Instagram, and now TikTok. While Facebook itself has options for buying adspace to users, most platforms have the inherent value of free advertising, provided the corporation is able to build a following and maintain a visible presence. Social media itself opened up new opportunities for jobs in IT and social media management. However, the same level of access that allows companies to maintain daily contact with their customers can also ruin a company in a matter of weeks, and yet, the urgency to monitor these online metrics is lukewarm. 96% of businesses believe brand and reputation can affect revenue, yet only 44% monitor that impact. (CareerArc)
Prior to the new millennium, reputation management services for corporations used to be restricted to press coverage in analog newspapers and exposure through television and radio. Now in the age of the internet, the annals through which a company can be maligned have expanded exponentially. 69% of jobseekers would turn down an offer from a company with reputation problems (StatusLabs)
Through the years, Americans have seen bad actions on a company’s website or social media pages completely tank a company’s reputation, impact stock prices, and lead to sharp declines in profits within a single quarter. With billions of users on Facebook, international companies in particular are at risk of having their entire brand tainted by a mere tweet containing less than 140 characters.
Building a glowing reputation online may seem like a shallow solution to a large issue, but the ubiquity of the internet and social media has completely changed how corporations relate to their customer base. Here’s why online reputation management matters:
Online reputations can build consumer bases through integrity, transparency, and direct communication among customers, employees, investors, and the new industry of brand influencers that have developed over the last 10 years. Consumers are willing to pay more for a product if the company selling it has a good reputation. (University of Technology Sydney)
An online reputation allows a company to meticulously cultivate and maintain an image by engaging on social media. Consumer bases can be updated regularly on products and services, as well as deals on products and sale opportunities.
Draws in top-tier talent and interest from individuals who wish to work for the company, which can keep hiring costs down, and avoid a cyclical pattern of turnover that drags down the corporation’s bottom line.
Online reputations can drive sales and improve quarterly reports. By the same token, a negative online reputation can lay waste to a corporation that has previously maintained excellent consumer relations.
No online presence is a missed opportunity—but a negative online presence is a malignancy within a corporation that has the potential to rot it from within. Therefore, executives, managers, and employees alike must always be looking for opportunities to build a positive online presence. Before leadership sets out to hire a reputation management firm, there are internal measures they can take first:
Improve content marketing
Invest in customer experience
Invest in employee satisfaction
Swiftly and comprehensively address internal issues
Maintain a strict level of integrity
Social media: A company’s social media presence must be carefully cultivated and maintained in alignment with the corporation’s mission and values.
Social media in the workplace: The social media of all persons who officially represent the company must be devoid of any disparaging posts regarding their employer.
Review sites: When exaggerated or fraudulent reviews of a company appear on one of the many review sites associated with a company’s culture and products, it can drag down the overall rating of a business, and create false impressions regarding the quality of their services. One bad review can cost you up to 22% of potential customers. The risk increases to 59.2% for three bad reviews. Four or more negative posts drive this number to 70%. (Moz)
When internal measures do not pull a corporation out of the hole created by a negative online reputation, it might be time to consider hiring a reputation management services firm. These firms can evaluate the level of damage inflicted by the negative reputation, and develop multi-pronged approaches to remedying those factors. This includes brand revitalization, social media cleanups, and white hat tactics to get negative reviews removed from a corporation’s social media and review pages. If you have need of reputation management services, please consider Lauth Investigation’s International. We have more than 20 years’ experience in managing corporate crises, and can work with clients to develop comprehensive solutions to rebuild their reputation. We are staffed by former military and law enforcement and carry a glowing A+ rating with the Better Business Bureau. Call 317-951-1100 today or find us online at www.lauthinvestigations.com.