As a business owner, it is in your best interest to hire the most experienced, qualified, and careful candidates to work for you. Without a crystal ball, or other future divining device, it’s impossible to know just how trustworthy your new employee is.
Trustworthiness isn’t just about protecting your clients from theft. It may be about the employee accurately representing his or her experience and ability when dealing with a complicated task.
Having your employees bonded is one way to ensure that they are trustworthy and you will not be responsible for paying damages if it turns out they aren’t.
Any business with employees that have access to customer property should have fidelity bonds for their employees. In addition, if your employees have access to your company’s accounts, equipment and other assets, bonding may protect you in the event they steal.
As a contractor, you may not have employees in the traditional sense. You are, however, responsible for ensuring that subcontractors meet contractual obligations to your clients. In order to protect against the risk of a subcontractor being unable to complete the work on schedule, or up to the standards established in the contract, you should get a performance bond on the subcontractor.
Interestingly, even the process of getting an employee or subcontractor bonded can help you determine whether or not they will be a good fit for the job in question. Surety companies complete intense background screenings before they decide to bond someone. If they fail to issue the bond, this is a big red flag that you might not want the individual in question to become a part of your business.
If you are considering bonding your employees and subcontractors, give us a call at (214) 824-8888 and we can discuss the many bond options and protocols with you.