Help Prevent Employee Theft
There are many regular costs that a business must cover, including California business insurance and sometimes unfortunately, the cost of dealing with employee theft. Developing and implementing effective procedures and policies may be the key to helping prevent employee theft.
•When hiring, ask questions that help reveal good values and sincerity, but regardless of how trustworthy a prospective employee appears always do a background check.
•Ensure new employees understand and follow your policies and procedures. Your guidelines for handling receipts and merchandise should be precise and clear.
•Where feasible, it may be an idea to never give total responsibility for a particular task to one person. Rotating responsibilities may be a smart idea. As well as cross-training your employees, this way no single person has too much control over one area. Even simple tasks like opening the mail can be moved between employees.
•Ensure all records are kept up to date and organized, and regularly check them yourself. Unexpected inspections of the cash register and merchandise shipments should make your employees aware of your vigilance.
It can be difficult finding a balance between controlling behavior and being too relaxed and complacent. Is your business at high risk of employee theft or embezzlement? Perhaps it’s time to speak with us about reviewing your California business insurance coverage.