It is a sad fact that, in this day and age, employee theft can be a major problem facing many businesses.  Figures from the Global Retail Theft Barometer in 2011 found that 36.8 per cent of shrinkage in UK stores is down to staff.  And, the report also estimates that theft by staff cost businesses in the UK £1.6 billion in 2010.

If you employ staff in your restaurant then there is the potential for employee theft.  Keep reading to learn more about how to protect yourself against theft and how restaurant insurance can help you.

What you can do to reduce staff theft

Many restaurants lose thousands of pounds a year due to employee theft.  Reports suggest that a third of all shoplifting costs in the UK are attributed to employees with figures estimating that the average criminally-minded employee steals £1,988 of money and goods.

There are a number of steps you can take to reduce employee theft from your restaurant.  These include:

  • Using CCTV cameras as both a deterrent and to catch thieves
  • Locking your cash away in a restaurant safe. Most thefts are opportunistic and so it can pay to not give an employee the chance to steal
  • Undertake regular stock checks. Let your employees know you are checking stock levels and avoid their suspicion by including them in the stock check process
  • Balance your tills regularly

While there are many precautions that you can take to deter your employees from stealing, having the right restaurant insurance protection can still make all the difference.  Keep reading to learn more about why you should include employee theft cover on your restaurant insurance.

The importance of staff theft cover on your restaurant insurance

If you are a restaurant owner, it is upsetting to find out that one of your key staff members has been stealing. As well as the cost in pounds and pence of lost goods or money, it is also hard to deal with the breach of trust that has occurred.

To protect yourself against staff theft you could consider including employee theft protection on your restaurant insurance policy.  It is designed to protect you against this loss and to help you recover the cost of the removed money or stock.

While it won’t stop the physical act of one of your trusted employees removing cash or goods from your restaurant, this cover will at least ensure that you’re not out of pocket.  Protect yourself today.

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