An Indianapolis Commercial Package Policy is always going to be your first line of defense for any potential and foreseeable threat you might face. However, while this policy will prevent you from losing everything in the event of massive property damage or a torrential storm, it cannot prevent your employees from stealing from you. Unfortunately, employee theft contributes to billions in losses each year for small business owners. In light of this, it’s critical to evaluate your business processes and determine whether or not you are vulnerable to employee theft.
Many small business owners struggle to stay afloat, much less turn a profit, and theft is a huge contributor to this issue. Just as concerning, however, are the statistics on employee theft. In 2013, Kessler International, which provides digital forensic and investigation services for businesses, conducted an anonymous survey of 500 employees of small businesses in various industries. The survey found the following staggering statistics regarding patterns of employee theft:
- 30% of employees admitted to being dishonest with their time clock.
- Over 50% admitted to stealing office supplies.
- About 35% admitted to stealing goods or services from their employers.
- Almost 20% admitted to stealing trade secrets from their employers.
While no employer wants to admit that their employees are capable of such fraudulent acts, the truth is that many are faced with this harsh reality. If you have employees, take the time to conduct background checks, interview thoroughly, and get references before hiring. Remember, employees are the backbone to your business, and finding quality ones who share your vision and want to contribute to your success is paramount.
About Walker & Associates Insurance
If you’re not sure if your insurance is sufficient, it’s smart business to have your risks evaluated by professionals you can trust. Since being founded in 1960, Walker & Associates has embraced a “service is first” philosophy. Our team is focused on ensuring that each client receives individualized guidance to preserve their assets and control their expenses. Our strong relationships with international, national, and Indiana insurance companies allow us to negotiate the best coverages, terms, and pricing for our clients. Contact us at Walker & Associates Insurance, (888) 760-7292, for all of your business and personal matters.