Financial institutions handle other people’s money. When mistakes happen, lawsuits often follow. Bankers blanket bond insurance covers the financial institution when losses occur for employee mistakes. Lower your chances of a lawsuit by helping employees reduce clerical errors.
Reducing clerical errors starts with proper training. An incompetent employee may have no idea they’ve even made a mistake. Adequate training prepares an employee to handle the roles of the position.
The more complicated the task, the harder an employee has to work to continue to do it correctly. Shorten and simplify tasks as much as possible to reduce waste and errors. Task variety can lessen monotony and reduce errors.
Tying incentives to quality work can reduce errors. Employees rewarded for correctly completing tasks are more valuable than those only interested in completing tasks as quickly as possible with no regard to quality.
Stress can cause even the best employees to make mistakes. Not all stress is a result of the workplace environment. An employer can help minimize workplace stress by not overtaxing employees by employing an adequate number of employees to handle the job.
Even the most highly skilled and trained employee is bound to make a mistake a time or two. Protect your financial institution with bankers blanket bond insurance.