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I knew a business owner whose shop, for some time, was failing to make a profit. It was odd, because she had customers. Plenty, in fact. She was often travelling, and left the day to day running of the business to her employees.

Over time, it became apparent that something was not right. Eventually she discovered where most of the money was going: into the employees’ pockets. Despite having evidence, there was little she could do to get her money back.

Many businesses are fortunate enough to never have to be in a similar position, but a lot of companies are exposed to significant financial losses due to crime committed by employees. What can you, as a business owner do to protect yourself?

GET A FIDELITY GUARANTEE!

What is Fidelity Guarantee Insurance?

It is an insurance policy designed to indemnify the Insured (usually the employer/business owner) for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee during the course of his/her employment. The policy is designed to compensate employers against loss of money or stock through fraud or dishonesty of their employees in the course of performing their duties. It is especially beneficial for companies or businesses where employees have to handle cash on a regular basis.

What does it cover?

 The policy indemnifies insured against financial losses:

• Committed by employees as a result of fraud
• When the fraud is detected during the period of insurance.
• When employee has been prosecuted for fraud or there is evidence that the fraud was committed by the employee.

So essentially, it will provide reimbursement for loss resulting from dishonesty, fraud, loss of property, loss from loans or trading committed by an employee for improper personal financial gain. It will also cover theft of property through computer fraud, as well as the theft of funds from the insured’s transfer account at a financial institution are also indemnified.

If you’re concerned about fraud or theft, then pay us a visit at our new location in town or call us on 429 5000 or send an email to info@sacos.sc for more information on our Fidelity Guarantee Policy.

Did you know that plastics are very likely to outlive humanity?

In recent years, people have started cutting down on plastic consumption, as we have started to realise the effects plastic can have on the environment and our oceans.

Although plastic is a useful product, many of these products are created for single-use, after which they are thrown away and improperly disposed of. Not only is this harmful to the environment and the oceans, but it is also harmful to wildlife.

As we become more conscious of how our actions can have an impact, check out these 5 simple ways that you can do your part to use less plastic:

1. Fill your own water bottle

Bottled water is one of the most common single-use plastics around, but they’re completely unnecessary. Save yourself money and reduce your plastic consumption by purchasing a water bottle that you can fill up and take with you anywhere.

2. Use your own utensils

Not everyone has the time to plan meals ahead of time, and find that take-aways are more convenient. However, you will notice that most take-away outlets regularly serve you with disposable plastic cutlery. Keep a set of reusable knives and forks on your person or at the office when heading to lunch, and you’ll have no need to take them! You may also consider bringing your own food container or better yet pack your own lunch.

3. Bring your own bag

Plastic bags have been under the spotlight for a good few years now. Seychelles has implemented a ban, so you’re probably used to taking your own bags to the supermarket already. Remember to leave one in your bag or car, just in case you forget.

4. Say No to Straws

 Believe it or not straws are one of the ultimate wastes of plastic, hence why so many establishments have taken the initiative to switch to paper or pasta ones instead. Always ask for your drink without a straw, but if you enjoy drinking through a straw then you can always carry your own. There are reusable ones made out of metal, glass, or even bamboo!

5. Find alternatives!

Switch to products that do not use plastic packaging where you can. For example, instead of buying shower gel, buy soap! Not only will you use less plastic, but it will last you longer and save you money!

There are plenty of little changes that you can personally make in order to reduce plastic consumption. Have any tips to add to the list? Drop it in the comments section!

As an employer and business owner, one of your top priorities should be to safeguard your most important asset – your employees. The Group Personal Accident Insurance offers you the possibility to do so.

Continue reading “Group Personal Accident Insurance: Safety in numbers” →

Calculating your premium has never been easier! No more waiting in telephonic queues or leaving the comfort of your home. Sacos brings you convenience at the tip of your fingertips. No more guessing at how much you’re going to have to pay, just head over to our website, crunch in the numbers and get an answer instantly! A Sacos exclusive feature for a unique life insurance plan!

Continue reading “Introducing the online calculator for Sacos Special Endowment life assurance plan” →

We understand that not all businesses, especially  small ones, have the resources to reward high-performing employees. That being said, there’s nothing to stop you from finding other ways of showing your gratitude. Below we share gestures you can make to let your employees know you appreciate them — without breaking the bank.

Say ‘Thank You’

Sometimes, a simple ‘thank you’ can help foster loyalty and good feelings among staff. Make it a point to regularly show appreciation for their hard work. It’s a small gesture that costs nothing, yet many managers restrain from doing it. Remind yourself and others to pay attention to your team’s efforts.

Put it in writing!

While emails are often the go to mode of communication, they tend to come off as a bit impersonal. Try going for a handwritten note, even if it’s a short one. It’s something that they can pin up on at their desk or keep in their purse as a reminder.

Have an ‘employee of the month’ ritual

It may not seem like much, but having an employee of the month ritual could foster a little competition and help boost productivity. It’s also a great way to acknowledge hard working employees. It shows them that the effort that they put in is being recognised. Take a minute at every staff meeting to publicly acknowledge team members who went above and beyond on a work project or customer issue in the past week or two.

Use other markers to measure productivity

We get it, it’s easier to use standards like rewarding someone for the highest sales figures or the most positive customer feedback. But there are other ways that employees go above and beyond for their organisation. This can be something as little as helping another employee finish a workload,  volunteering to help over a weekend, or something as simple as making a cup of coffee. These little gestures deserve recognition, too.

Match efforts with correlating gifts

As an example, if someone gave up one of their Saturdays to come into work, you could give them a gift of a paid Friday off; or you could pay for lunch for employees who are putting in extra hours to meet a deadline. Additionally, you could give grocery hampers at the end of every month, in turn. We’re sure the gesture would come highly appreciated.