{"id":212565,"date":"2025-04-29T10:13:44","date_gmt":"2025-04-29T10:13:44","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/insurance\/preventing-employee-dishonesty-at-your-small-business-trushield\/"},"modified":"2025-04-29T10:13:44","modified_gmt":"2025-04-29T10:13:44","slug":"preventing-employee-dishonesty-at-your-small-business-trushield","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=212565","title":{"rendered":"Preventing employee dishonesty at your small business \u2013 TruShield"},"content":{"rendered":"


\n<\/p>\n

\n

3 minute read \u00a0<\/p>\n

Theft is a major concern for all small business owners. Thieves aren\u2019t just shoplifters, masked intruders, or organized criminals. Sometimes, it\u2019s an inside job\u2014and it\u2019s more common than one might realize.<\/p>\n

Employee dishonesty, theft, and fraud can take many forms. Maybe they\u2019re skimming money from the cash register, falsifying time sheets, or padding expense reports. Maybe they\u2019re stealing inventory, tools, equipment, or showroom merchandise. If you work on external jobsites, maybe a team member is even stealing clients\u2019 property.<\/p>\n

In some cases, it could start out as a crime of opportunity in which the employee has easy access to cash or merchandise. But it\u2019s not the only reason. Maybe the employee is disgruntled or feels they aren\u2019t paid enough, so they justify their actions. In other cases, an employee may be in financial trouble and is desperate for cash.<\/p>\n

Whatever the case, smaller businesses tend to be at higher risk since they often have fewer internal controls in place. And small business owners or managers may be more likely to trust their employees and think it couldn\u2019t happen to them.<\/p>\n

But it\u2019s more common than they might realize: Every year, employee theft is costing Canadian businesses about $1.5 billion<\/a>, according to the Retail Council of Canada (RCC), a non-profit that represents the retail industry.<\/p>\n

Employees tend to steal a little bit over long periods of time (rather than all at once), so it\u2019s easier for it to go unnoticed. And, over time, those little bits can add up to a lot, impacting your bottom line. The RCC found that employees steal, on average, about $2,500 in cash or goods before they\u2019re caught. To put that in perspective, customers steal about $175. Perhaps more alarming is that the RCC also estimates that 566,000 thefts go undetected each year.<\/p>\n

So what can you do about it? Here are some best practices to help minimize the risk of employee dishonesty.<\/p>\n

Develop a loss prevention strategy<\/h3>\n

While not foolproof, a loss prevention strategy provides checks and balances that can go a long way in helping to reduce employee dishonesty. This involves creating security guidelines and outlining policies and procedures\u2014and familiarizing your employees with those guidelines. For example, this strategy could limit employee access to cash and merchandise.<\/p>\n

Create a security policy<\/h3>\n

Have employees read and sign off on the company\u2019s security guidelines, policies, and procedures\u2014including what happens if employees are caught stealing. This ensures they understand the consequences of their actions, which may help to deter them from crimes of opportunity.<\/p>\n

Screen new hires<\/h3>\n

Be sure to check references of potential new hires. In some cases, you may want to do criminal, credit and\/or social media background checks, depending on the role of the person you\u2019re hiring.<\/p>\n

Accounting controls<\/h3>\n

When it comes to cash, controls should be in place, from bank deposits to payroll to petty cash disbursements. Make sure that no employee has sole control over financial transactions.<\/p>\n

Inventory controls<\/h3>\n

Controls should also be put in place to keep track of inventory. Do regularly scheduled inventory checks as well as random checks. When merchandise comes in, check it against purchase invoices (or against shipping documents, if you\u2019re sending it out for delivery).<\/p>\n

Physical security<\/h3>\n

Make sure cash, tools, equipment, and\/or merchandise isn\u2019t easy to steal. Lock up merchandise or use anti-theft devices where applicable, and consider using closed circuit television (CCTV) surveillance on your property.<\/p>\n

Auditing<\/h3>\n

Bringing in a third-party auditing firm to review your finances could make an employee think twice about stealing. This can be done as part of your loss prevention strategy or it could also be useful if you suspect suspicious activity is going on.<\/p>\n

Reporting<\/h3>\n

Set up a system (such as a tip line) where employees can discreetly report potential misconduct without fear of retaliation.<\/p>\n

Build employee loyalty<\/h3>\n

Preventing employee theft shouldn\u2019t just be about scare tactics. Engaging with staff, building rapport, and encouraging employee loyalty through mentorship or skills upgrading programs could result in a happier workplace\u2014and, consequently, fewer incidents of theft.<\/p>\n

How small business insurance can help<\/h2>\n

Even if you have controls in place, theft can still happen. That\u2019s where insurance for small businesses can help\u2014particularly in high-risk industries such as retail.<\/p>\n

Coverage for employee dishonesty can be included in a customized small business insurance policy, helping to protect employers from financial loss if an employee steals money or property.<\/p>\n

There are plenty of small business risks to be aware of, including theft. But small business owners shouldn\u2019t overlook the potential for employee dishonesty. Establishing checks and balances, and having the right insurance policy, could help to mitigate that risk.<\/p>\n

Protect your small business with TruShield Insurance<\/h2>\n

Successfully managing your small business involves more than just your skills and hard work. It\u2019s also about being prepared for unexpected issues that can arise, such as theft. To get the right coverage that\u2019s tailored to you and your business, visit our Commercial Insurance page<\/a> today.<\/p>\n

\u00a0<\/p>\n


This blog is provided for information only and is not a substitute for professional advice. We make no representations or warranties regarding the accuracy or completeness of the information and will not be responsible for any loss arising out of reliance on the information.<\/em><\/p>\n

<\/div>\n\n","protected":false},"excerpt":{"rendered":"

3 minute read \u00a0 Theft is a major concern for all small business owners. Thieves aren\u2019t just shoplifters, masked intruders, or organized criminals. Sometimes, it\u2019s an inside job\u2014and it\u2019s more common than one might realize. Employee dishonesty, theft, and fraud can take many forms. Maybe they\u2019re skimming money from the cash register, falsifying time sheets, […]<\/p>\n","protected":false},"author":1,"featured_media":212566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[94],"tags":[907,39642,13604,14144,709,76052],"dealstore":[],"offerexpiration":[],"class_list":["post-212565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-business","tag-dishonesty","tag-employee","tag-preventing","tag-small","tag-trushield"],"yoast_head":"\nPreventing employee dishonesty at your small business \u2013 TruShield - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=212565\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Preventing employee dishonesty at your small business \u2013 TruShield - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"3 minute read \u00a0 Theft is a major concern for all small business owners. Thieves aren\u2019t just shoplifters, masked intruders, or organized criminals. Sometimes, it\u2019s an inside job\u2014and it\u2019s more common than one might realize. Employee dishonesty, theft, and fraud can take many forms. Maybe they\u2019re skimming money from the cash register, falsifying time sheets, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=212565\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-29T10:13:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1030\" \/>\n\t<meta property=\"og:image:height\" content=\"441\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=212565#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=212565\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"Preventing employee dishonesty at your small business \u2013 TruShield\",\"datePublished\":\"2025-04-29T10:13:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=212565\"},\"wordCount\":896,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=212565#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png\",\"keywords\":[\"Business\",\"Dishonesty..\",\"Employee\",\"Preventing\",\"Small\",\"TruShield\"],\"articleSection\":[\"Insurance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=212565#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=212565\",\"url\":\"https:\/\/fivemor.com\/?p=212565\",\"name\":\"Preventing employee dishonesty at your small business \u2013 TruShield - Som2ny Network\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=212565#primaryimage\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=212565#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png\",\"datePublished\":\"2025-04-29T10:13:44+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fivemor.com\/?p=212565#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fivemor.com\/?p=212565\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/?p=212565#primaryimage\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png\",\"width\":1030,\"height\":441},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fivemor.com\/?p=212565#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fivemor.com\/?bp_activities=1\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Preventing employee dishonesty at your small business \u2013 TruShield\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fivemor.com\/#website\",\"url\":\"https:\/\/fivemor.com\/\",\"name\":\"Som2ny Network\",\"description\":\"Daily Deals\",\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fivemor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/fivemor.com\/#organization\",\"name\":\"Som2ny Network\",\"url\":\"https:\/\/fivemor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"width\":300,\"height\":86,\"caption\":\"Som2ny Network\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/fivemor.com\"],\"url\":\"https:\/\/fivemor.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Preventing employee dishonesty at your small business \u2013 TruShield - Som2ny Network","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fivemor.com\/?p=212565","og_locale":"en_US","og_type":"article","og_title":"Preventing employee dishonesty at your small business \u2013 TruShield - Som2ny Network","og_description":"3 minute read \u00a0 Theft is a major concern for all small business owners. Thieves aren\u2019t just shoplifters, masked intruders, or organized criminals. Sometimes, it\u2019s an inside job\u2014and it\u2019s more common than one might realize. Employee dishonesty, theft, and fraud can take many forms. Maybe they\u2019re skimming money from the cash register, falsifying time sheets, […]","og_url":"https:\/\/fivemor.com\/?p=212565","og_site_name":"Som2ny Network","article_published_time":"2025-04-29T10:13:44+00:00","og_image":[{"width":1030,"height":441,"url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fivemor.com\/?p=212565#article","isPartOf":{"@id":"https:\/\/fivemor.com\/?p=212565"},"author":{"name":"admin","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371"},"headline":"Preventing employee dishonesty at your small business \u2013 TruShield","datePublished":"2025-04-29T10:13:44+00:00","mainEntityOfPage":{"@id":"https:\/\/fivemor.com\/?p=212565"},"wordCount":896,"commentCount":0,"publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"image":{"@id":"https:\/\/fivemor.com\/?p=212565#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png","keywords":["Business","Dishonesty..","Employee","Preventing","Small","TruShield"],"articleSection":["Insurance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fivemor.com\/?p=212565#respond"]}]},{"@type":"WebPage","@id":"https:\/\/fivemor.com\/?p=212565","url":"https:\/\/fivemor.com\/?p=212565","name":"Preventing employee dishonesty at your small business \u2013 TruShield - Som2ny Network","isPartOf":{"@id":"https:\/\/fivemor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fivemor.com\/?p=212565#primaryimage"},"image":{"@id":"https:\/\/fivemor.com\/?p=212565#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png","datePublished":"2025-04-29T10:13:44+00:00","breadcrumb":{"@id":"https:\/\/fivemor.com\/?p=212565#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fivemor.com\/?p=212565"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/?p=212565#primaryimage","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/04\/employee-dishonesty-1030x441.png","width":1030,"height":441},{"@type":"BreadcrumbList","@id":"https:\/\/fivemor.com\/?p=212565#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fivemor.com\/?bp_activities=1"},{"@type":"ListItem","position":2,"name":"Preventing employee dishonesty at your small business \u2013 TruShield"}]},{"@type":"WebSite","@id":"https:\/\/fivemor.com\/#website","url":"https:\/\/fivemor.com\/","name":"Som2ny Network","description":"Daily Deals","publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fivemor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fivemor.com\/#organization","name":"Som2ny Network","url":"https:\/\/fivemor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","width":300,"height":86,"caption":"Som2ny Network"},"image":{"@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","caption":"admin"},"sameAs":["https:\/\/fivemor.com"],"url":"https:\/\/fivemor.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/212565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=212565"}],"version-history":[{"count":0,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/212565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/media\/212566"}],"wp:attachment":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=212565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=212565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=212565"},{"taxonomy":"dealstore","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fdealstore&post=212565"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fofferexpiration&post=212565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}