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Archive for the 'Crime/Fidelity' Category

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Hotel Employees on Strike – Bad News for Business

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Posted on 04.11.09 by VIP Hotel Insurance 4:27 pm

If your workforce is in danger of striking, check with your hotel insurance broker to understand your coverage options and additional coverage requirements during any strike.It’s the news no hotelier wants to hear – union staff have voted to walk out. Not only do you have to find interim help that’s willing to cross picket lines; you have to find guests who are also willing to do so.

 

 A work strike could cost your company more than just dollars. As with the case of the downtown Chicago Sheraton hotel locations facing such a strike the last week of October 2009, staffing shortages could seriously impede your business as usual. In the case of the Sheraton unionized workers, over 1,000 staffers were set to vote on whether to walk. Finding replacement help – adequate replacement help – is a crippling task. What’s more, interim staff have a higher risk associated with them. Because they’re not familiar with your business model, there’s a good chance your guest relations ratings could suffer. Not to mention the variables you can’t control – temporary employee unreliability, theft, and the chance that these employees weren’t vetted properly. Inefficient performance is one thing – guest safety, entirely another.

 

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Employee Dishonesty – Is it Really That Bad?

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Posted on 24.07.09 by VIP Hotel Insurance 9:38 am
Flickr photo credit: quinn.anya

Flickr photo credit: quinn.anya

Oh yes, it’s that bad. According to a recent American DataBank survey, businesses lose $120 billion annually to employee theft. It goes well beyond taking home some company pens and paper. Employees are lifting anything not nailed down. Some companies have a harder time than others. Why are some employees more prone to stealing?

 

Experts agree that employees who feel valued, well compensated, and who have adopted a sense of ownership are less likely to steal than those who feel underappreciated. Yet it’s not just feelings that cause theft. Opportunity to steal can increase exponentially your hotel’s employee theft incidents. Worse, many hotels are not covering their exposures to employee dishonestly adequately. The Surety Association of America, in a recent study, found that the majority of insureds surveyed did not have large enough employee dishonesty coverage to cover their actual losses.

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