How Employee Theft Can Create Significant Losses

Employee Theft

How Employee Theft Can Create Significant Losses

When business owners think about the possibility of theft, their first thoughts don’t generally involve their own employees. However, employee theft can be among the most serious and substantive.

Theft Can Go Undetected for a Long Time

Employees are in a unique position to be able to steal from a business because they have been entrusted with access to products, supplies, and even funds. Moreover, they may be able to conceal their theft rather effectively. Employees may have the opportunity to repeatedly steal from a business over an extended period of time before anyone else becomes aware of it.

Employees Can Use Their Position to Steal From Third Parties

In some instances, theft could be committed against a third party who a business works with or a client who it serves. In addition to having lost revenue, a business could be liable to the party from whom the employee has stolen.

Businesses Need to Safeguard Themselves Against Dishonesty

Virtually every type of business needs a strategy aimed at preventing and addressing internal loss. Employee theft protection through crime insurance can compensate a business for losses resulting from theft.

Reach out to an experienced insurance company so that you can find out more about what you need to do to protect your operations and revenue from employee dishonesty.

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