I'd try using the ListBox.SelectedItems property instead:
private void button1_Click(object sender, EventArgs e)
{
for(int i = 0; i < listbox1.SelectedItems.Count; i++)
{
str = "insert into emp1 values('" + listBox1.SelectedItems[i].ToString() + "')";
com = new OleDbCommand(str, con);
com.ExecuteNonQuery();
}
MessageBox.Show("Records Added Successfuly");
}