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Employee Theft Bond

Guide to Employee Theft Bonds

Ideally, we want our employees to always perform ethically and with serious integrity. However, this is not the reality of many workplaces. There will be employees who may break company trust, act unethically and take advantage of company assets or customers in secret.

Business owners should bond their employees to help protect from possible bankruptcy due to employee theft. To find out more about how employee theft bonds work and the type of employee theft bond you need, keep reading.

Employee Theft Bonds Benefit Your Business

Employee theft bonds, also known as fidelity bonds, yield a number of benefits for a company. These bonds are a great marketing tool for attracting customers, especially if employees work in customer homes. Customers feel more comfortable hiring a business guaranteeing to protect their money and property while on the job.

Recent start-ups can benefit even more from employee theft bonds. A newly founded business typically does not have accumulated wealth, so it would be likely to fail if an employee steals a significant amount of money or assets. An employee theft bond will reimburse the business for their losses, thereby reducing the risk of a business failing due to employee theft.

Employee Theft Bond Types

There are three primary types of employee theft bonds:

Although there are different ways you can prevent company loss, (setting up strict job guidelines, checklists and cross verification) an employee theft bond is added security against employees who find ways to cheat the system. Get a free quote for your employee theft bond today.

Bond from the Beginning

Bonding employees the moment they are hired is a good way to find trustworthy workers and filter out candidates that cannot be bonded due to past fraudulent activities.

Although employees do not need to know they are bonded, it is a good idea to let potential candidates know they might be. Employee theft bonds will protect your company from loss due to any employee theft or collusion among employees in high risk job positions.

What are High-Risk Job Positions?

Any employee who has access to valuable company assets could be a potential theft risk. This includes access to automobiles, expensive equipment and of course, cash.