Why would he work hard for you if he is YOUR COMPETITION?Yes, he is going to take all the accounts that he can and the longer you keep him, the more opportunities he will have.
Make sure your records are secure!!!! Yes he will contact all your customers if he does decide to move from similar to the same business type. If you let him go he will collect unemployment while building his business. This I know from past experiences. If you bid jobs you really do not want him seeing these figures or your methods of bidding. Only you can weigh the advantages of keeping or canning this guy. Is he just looking for additional income in these hard times? How long would it take him to be a real competitive threat? And is he collecting trade tools from your store room?
I have had employees steal my business before, even ones I had taken into my home and family, so if you keep him, you may be letting yourself in for a huge heartache, as well as pay him to steal your business. You are also giving him all the chance to cut your prices and steal them at that time.
