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Business Management
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Prevent theft in the workplace
Theft in the workplace can be a real problem for small businesses and can seriously affect your profitability. As an employer you need to protect yourself against this unpleasant fact of life.
Below is a list of precautions you can take:
- Make sure all monies coming in and going out are dealt with by different employees
- Randomly check deliveries, both to your business and to your customers
- Monitor the petty cash fund
- Question excessive amounts of voids, credits, or damage claims
- Never accept photocopies of invoices, delivery notes, etc.
- Investigate unusual occurrences such as missing documents or unexplained absences during the working day
- Tell your staff to pay only for goods received, and remind them not to pay for goods that have not been ordered, even if an invoice is provided
- Change locks and computer passwords periodically
- As a last resort, if you do discover theft in your business, consider prosecution - experts believe it works as a strong deterrent to others
Failure to implement controls indicates the potential for a serious problem. Overly rigid controls, on the other hand, can create an oppressive atmosphere and hinder both productivity and creativity.
Be sensitive with your employees, and try to nurture a climate of co-operation against crime - your profitability could depend on it!
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