Employee theft can financially ruin a business. Whether it is the cashier stealing or employees theft of services, an attitude promoting integrity is key to business. The average business suffers losses of $500 to $1000 per employee.
Most people think of employee theft as small items such as office supplies. The really damaging thefts are trade secrets, software databases and confidential information. There are several steps to take to slow down major theft:
- Have all employees sign Confidentiality and Trade Secret Agreements.
- Stamp documents “Confidential.”
- Limit employee computer access to important databases.
- Have periodic conferences with employees about confidentiality.
If you have a question., call Ronald J. Cappuccio, J.D., LL.M.(Tax) at (856) 665-2121