With increasing digitization of data and information, it has become much easier for an employee to steal confidential data or trade secrets to earn extra money from other businesses in exchange for insider information.
You can always take legal action against such employees but it is better to have preventive measures in place to avoid data theft by your employees.
1) Have employees sign a Non-Disclosure Agreements (NDA) as per your (employers’) terms and conditions of working in your company and confidentiality requirements for the job role offered.
2) Have appropriate clauses in your employment contracts about the actions that will be taken against the employee in case there is suspicion or evidence of stealing company information and/ or sharing it with other parties outside the company.
3) Non-Compete Agreement: This type of contract should clearly specify that an employee cannot join any other competitors or any other similar company which can take advantage of your business secrets and potentially be jeopardising your competitive advantage.
You can read more in our guide about data theft.
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