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Employee Theft Can Ruin Any Successful Business

Prevent Employee Theft

In this volatile work environment, employee theft can cost companies and organizations millions of dollars. The hiring process is challenging, but even when good talent is discovered, companies could still find themselves at an extremely high risk if they don’t put proper protections in place.

Aside from the financial impact, there are other ways in which fraud or theft can damage your business. It could create a negative brand image in the minds of your customers, it could foster a lack of trust in your brand, and a loss of confidence from your investors. Employee theft can make your business lose its integrity and may keep other high-quality talent from considering your company as the ideal workplace.

In data from a recent study by Hiscox, a global specialist insurer, companies that were affected by employee theft lost an average of $1.13 million in 2016. Of all the specific cases studied, funds theft was the most common and represented over one-third of all cases. Of all the industry sectors that were studied, financial services firms had the highest total losses – more than $120 million.

Employee theft is always threat to any organization, regardless of its size or industry. It’s not always easy to detect employee theft, but according to the study, the cases that occurred were most often where an employee repeatedly diverted small sums of money over time. About one-quarter of the time, the employee theft was taking place for a time period longer than five years.

Companies spend large amounts of money on protecting their data – and it’s definitely a worthy investment. Monitoring computer networks, confidential and proprietary data and trade secrets is essential and a priority to safeguard. However, often times, hardcopy information, sensitive documents and other paper items are not properly protected, and even neglected. It’s crucial that every business keeps tabs on confidential data, regardless of the format it is kept in. Why shred documents? Paper documents can easily end up in the wrong hands and ultimately ruin your business, if not properly shredded and destroyed.

A professional shredding service can handle a significant volume of paper in a safe, secure manner and your important files can be eliminated without the need for removing staples, paper clips, rubber bands, etc. They provide your business with a certified destruction process that involves security cameras, monitors and other specialized equipment.

Whatever volume of shredded material your business generates, an experienced professional shredding service will set a schedule to collect and shred it onsite at your premises. Documents should be shredded in accordance with NAID AAA standards and a Certificate of Destruction will verify the process has been completed correctly.

There’s a way to prevent employee theft – call IntelliShred! We have had years of success with handling professional shredding for a variety of businesses. We are able to provide you with efficient and secure shredding services for paper and even digital media storage devices. Contact us today for answers to all of your shredding questions.

Why Shred Documents?

It’s necessary for today’s companies to deal with all forms of sensitive information. In today’s economy, most businesses struggle with the balance of managing the storage and disposal of their sensitive and confidential information. Shredding and destruction of all types of this information is essential to the future success of any business.

There are many types of confidential information that a company may store – everything from legal documents and employee records, to trade secrets, proprietary and other private information. It’s true that not only will a professional shredding company get rid of your information security risks, it can help you remain compliant and avoid the high cost of litigation.

In this crazy information age, paper files seem “old-school” and they are certainly a hassle to keep secure, but even safely storing digital media storage devices safely can be a challenge. It’s absolutely essential for your company protect itself by regularly shredding and destroying any sensitive materials that may no longer be needed. In order to protect your company from theft, fines or penalties, be sure to hire a professional shredding and destruction service.

Companies in the U.S. must abide by specific legislation that protects the privacy of information in the workplace. If information on employees, clients, vendors and others is not kept safe, there’s a chance your company could be liable. Avoiding the risk of theft is easy – shred and destroy any sensitive information to save your business from receiving severe penalties, fines or even harsh litigation.

Want another reason to shred documents? Shredding and destroying sensitive information also help protect the planet. There’s a huge impact on the environment when digital media storage devices end up in the regular trash. E-waste has become an issue that is adversely affecting the planet, but one of the most effective methods to keep metals and other toxins in those devices out of our soil and drinking water, is to properly destroy them. Saving the environment is an added benefit when you choose to protect your company and the valuable information it stores.

One could argue that store-bought, office shredders are easier to help solve this issue because they are capable of shredding documents in small batches. However, these small machines can’t handle the same volume of paper as a professional shredding machine. A professional machine is much more efficient and cost-effective to shred and destroy confidential items – and now there are special mobile shredding trucks with security cameras to ensure the shredding is done in a secure and safe manner. When you search for this type of service, look for a company that has excellent references and a strong reputation. The service you hire should also be currently insured and certified by the National Association of Information Destruction (NAID) with a AAA rating.

IntelliShred has over two decades of experience helping businesses and organizations with full-service mobile shredding and destruction services and offers daily, weekly, monthly, service packages. Learn more about how we can help you protect your business, contact us today!