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Suggest You - Employee Theft: Steps to Prevent Internal Fraud and Protect your Business
For most people, starting a Home Business is a way to realise their financial dreams. With the Home Business, the entrepreneur hopes to be finally free from the routine and pains of having a job.Like any other business, there will always be a period of time (normally in the beginning) where you will need to give more time and effort than expected to build the fundamentals of the business. As a business startup, you will be faced with risks. There is no way to eliminate all the risks associated with starting a business. However, you can improve your chances of success by good planning, preparation and guidance.These are the factors that you must consider and prepare yourself before starting your own Home Business.1. Do you consider yourself a Self-Starter?When you are an employee, your boss is the one to worry about these things. You will need to seriously worry only if the salary does not come in at the end of the month. A Home Business Owner is fully accountable for the success or failure of the business.A Home Business owner needs to create products and services, develop marketing plans, implement the plans, take orders, deliver the products and services, manage time - the list is endless.2. Do you get along well wit
Teach your employees the concept of preventative maintenance. It is far better to try and prevent an employee theft than try to catch someone after it's already happened. Explain to your staff the nature of employee theft, and the problems it causes for everyone in the store. Most importantly, make it easy for employees to detect and report suspicious activity. Tell them what to report, when to report and the various ways they can report the information. Making yourself accessible to employees is paramount in any situation, especially issue of security. They need to k
The Proof is in the PuddingWoe is me but I like to shop at Wal-Mart. Where else in the Valley is the customer the boss. Everything possible is done to make shopping a customer friendly and pleasant experience. Their "Ten-Foot Attitude" means that associates greet each person they see. Their "Satisfaction Guaranteed" refund and exchange policy allows customers like myself to be fully confident of its merchandise and quality. Heck, what's to complain about?Let me illustrate with just one vignette. The other day, I went to their camera section and wanted 14 photos scanned onto a disk. The price was 19 cents per photo and $2.78 for the disc for a total of $5.44. Now if you take those same photos to any specialty camera and photography store in the Valley, I suspect you might pay $5.00 per photo and $ 10.00 for the disk.....or a total of $80.00....so I saved $74.56! Oh yes, on the way in, I picked up a spatula for my grill for 99 cents and some low-priced butterscotch pudding. I like pudding and I also like one-stop shopping. On the way out, I stopped at the manager's office to compliment the great service I received at the camera department. All in all, a pleasant and thrifty experience.....one in which I was not savaged by a store manager or clerk
Security - Keep perimeter doors locked with alarms engaged during the night shift or when your store is not open for business. Authorization must be required to engage the alarms, and only the owner or supervisor should disengage the alarms when the store opens for business. You may want to consider changing the locks on your doors if those individuals who possess keys to your store are terminated or no longer work there for any reason. Each key that you disseminate to your employees should clearly say, "Do not duplicate." You may even consider using a card access or code system rather than traditional keys. Cards aren't as easy to duplicate and certain models can even trace the card back to a specific individual. Installing a security camera or indoor observation system will deter any wrongdoings. A simulated security camera can also be intimidating to those considering store vandalism, and it costs less than an actual camera system.
Profit Protection -Take large bills out of your cash drawers and keep them in a safe place, like a cash drop box with a secure lock. Allow only a supervisor to make cash drops, and record each transaction in detail. Make bank deposits daily or every other day. All of your other efforts to protect your store against fraud will be null if you leave money in your store that curious employees may find. It only takes one employee to overhear mention of the "safe" or the "vault" for your store to experience significant setbacks. Protect yourself and get the money to the bank.
Stringent employee screening and training - When interviewing a potential employee, include questions regarding honesty and integrity to let prospective staff members know that these issues are very important to your business and will be enforced. If you decide to hire the employee, provide them with a detailed description of company policies and procedures, and the consequences of not following them. This is not to threaten the employee, but rather to supply them the information they need to make honest decisions should they be found in a compromising situation. Maintain that he or she understands the guidelines presented, and acknowledge this understanding with a signature from each of you.
It's very important never to treat your employees like they've done something wrong, even if you suspect them of wrongdoing. If they are in fact innocent, they'll feel wrongly accused, mistrusted and unappreciated, and you may wind up loosing a good employee. Let them know you trust them and treat them with respect.
Teach your employees the concept of preventative maintenance. It is far better to try and prevent an employee theft than try to catch someone after it's already happened. Explain to your staff the nature of employee theft, and the problems it causes for everyone in the store. Most importantly, make it easy for employees to detect and report suspicious activity. Tell them what to report, when to report and the various ways they can report the information. Making yourself accessible to employees is paramount in any situation, especially issue of security. They need to kn
The employment trends in Chennai are driven by IT Jobs. The recruiters have been vigorously hiring from Chennai market during the last couple of years, credited to the presence of educational institutions contributing approximately 65, 000 engineers every year.If you are looking to work on, UNIX/C/ C++, JAVA, MAINFRAME, SIEBEL, ORACLE, SAP, PEOPLESOFT, WEB TECHNOLOGY etc… are the right destination for you! There are more than 45,000 IT jobs in Chennai thanks to major players recruiting enthusiastically!Infosys, TCS, Dell, Wipro Technologies, Intel, Satyam computer Services are the zenith companies on their hiring spree. Along with them there are other top notch companies hiring for software/networking jobs in Chennai. IT companies like Accenture known for their commitment in delivering innovative solutions that helps its clients gain high performance levels. With over 1, 15,000 people and offices in 48 countries around the world, India is Accenture's second largest country of operations.IBM has established itself as one of the leaders in the Indian Information Technology (IT) Industry. IBM India has over 38,500 employees as of January 1, 2006 and is India's largest MNC employer. Verizon Information Technology division has recognised the v
Profit Protection -Take large bills out of your cash drawers and keep them in a safe place, like a cash drop box with a secure lock. Allow only a supervisor to make cash drops, and record each transaction in detail. Make bank deposits daily or every other day. All of your other efforts to protect your store against fraud will be null if you leave money in your store that curious employees may find. It only takes one employee to overhear mention of the "safe" or the "vault" for your store to experience significant setbacks. Protect yourself and get the money to the bank.
Stringent employee screening and training - When interviewing a potential employee, include questions regarding honesty and integrity to let prospective staff members know that these issues are very important to your business and will be enforced. If you decide to hire the employee, provide them with a detailed description of company policies and procedures, and the consequences of not following them. This is not to threaten the employee, but rather to supply them the information they need to make honest decisions should they be found in a compromising situation. Maintain that he or she understands the guidelines presented, and acknowledge this understanding with a signature from each of you.
It's very important never to treat your employees like they've done something wrong, even if you suspect them of wrongdoing. If they are in fact innocent, they'll feel wrongly accused, mistrusted and unappreciated, and you may wind up loosing a good employee. Let them know you trust them and treat them with respect.
Teach your employees the concept of preventative maintenance. It is far better to try and prevent an employee theft than try to catch someone after it's already happened. Explain to your staff the nature of employee theft, and the problems it causes for everyone in the store. Most importantly, make it easy for employees to detect and report suspicious activity. Tell them what to report, when to report and the various ways they can report the information. Making yourself accessible to employees is paramount in any situation, especially issue of security. They need to k
If you ever thought of making and selling your soaps, You must read this article. We'll talk about how to correctly price your soaps. This is very important, as you need to know exactly how much a bar of soap costs you to make. Pricing is extremely important for any business to maximize profit. Why? Simple. If you price your soaps too low - you end up loosing money you should be making. If you price your soaps too high - you loose customers and sales you should have made (because they buy from your competitor, where it's cheaper). Do you see why correct pricing is so important? ;-) So, let's begin. All the numbers below are merely examples. Your numbers will be different: 1. FIXED COSTS: All the costs you have before making one bar of soap, per month: Rent: $150 (one room of your house is used for soap making) Phone: $70 Water: $10 Electricity: $20 Insurance: $20 Equipment (pots, spoons, thermometers, moulds etc.): $30 (let's assume I spend $360 per year in equipment) So, the total for fixed costs is : $300 per month. idating to those considering store vandalism, and it costs less than an actual camera system.
Profit Protection -Take large bills out of your cash drawers and keep them in a safe place, like a cash drop box with a secure lock. Allow only a supervisor to make cash drops, and record each transaction in detail. Make bank deposits daily or every other day. All of your other efforts to protect your store against fraud will be null if you leave money in your store that curious employees may find. It only takes one employee to overhear mention of the "safe" or the "vault" for your store to experience significant setbacks. Protect yourself and get the money to the bank.
Stringent employee screening and training - When interviewing a potential employee, include questions regarding honesty and integrity to let prospective staff members know that these issues are very important to your business and will be enforced. If you decide to hire the employee, provide them with a detailed description of company policies and procedures, and the consequences of not following them. This is not to threaten the employee, but rather to supply them the information they need to make honest decisions should they be found in a compromising situation. Maintain that he or she understands the guidelines presented, and acknowledge this understanding with a signature from each of you.
It's very important never to treat your employees like they've done something wrong, even if you suspect them of wrongdoing. If they are in fact innocent, they'll feel wrongly accused, mistrusted and unappreciated, and you may wind up loosing a good employee. Let them know you trust them and treat them with respect.
Teach your employees the concept of preventative maintenance. It is far better to try and prevent an employee theft than try to catch someone after it's already happened. Explain to your staff the nature of employee theft, and the problems it causes for everyone in the store. Most importantly, make it easy for employees to detect and report suspicious activity. Tell them what to report, when to report and the various ways they can report the information. Making yourself accessible to employees is paramount in any situation, especially issue of security. They need to k
If youd like to offer professional home inspection services there are a number of training programs and courses you can take - some of them online. From one online home inspection training provider we found the courses that teach the creation of a home inspection report.Included in this report are the overall condition of the home, with specific attention to the plumbing and electrical systems, the heating and cooling equipment, the siding and the roof, the foundation and the homes frame. This particular home inspection certification program is offered as a partnership with numerous colleges and universities that oversee the various course materials and curriculum.The home builders organization offering the online home inspection courses was established twenty years ago. Its mission remains to offer home inspection education, occupation training, as well as construction and home inspection technical support.The programs include classroom training, field training, seminars, and continuing education courses in addition to the Internet-based program.More than 2000 home inspection professionals have now graduated from the associations training program, in various parts of the United States and Canada. While any of the home inspection cl
It's very important never to treat your employees like they've done something wrong, even if you suspect them of wrongdoing. If they are in fact innocent, they'll feel wrongly accused, mistrusted and unappreciated, and you may wind up loosing a good employee. Let them know you trust them and treat them with respect.
Teach your employees the concept of preventative maintenance. It is far better to try and prevent an employee theft than try to catch someone after it's already happened. Explain to your staff the nature of employee theft, and the problems it causes for everyone in the store. Most importantly, make it easy for employees to detect and report suspicious activity. Tell them what to report, when to report and the various ways they can report the information. Making yourself accessible to employees is paramount in any situation, especially issue of security. They need to k
The Connecticut State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:Department of Revenue Services 25 Sigourney Street Hartford, CT 06106 860-297-5962 800-382-9463 www.drs.state.ct.us/index.htmlConnecticut requires that you use Connecticut form "CT-W4, Employee's Withholding or Exemption Certificate" instead of a Federal W-4 Form for Connecticut State Income Tax Withholding.Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Connecticut cafeteria plans are: not taxable for income tax calculation; taxable for unemployment insurance purposes. 401(k) plan deferrals are: not taxable for income taxes; taxable for unemployment purposes.In Connecticut no special rate for taxing supplemental wages instead supplemental wages are to be aggregated.You must file your Connecticut State W-2s by magnetic media if you are have at least 25 W2's to file and are required to file your federal W-2s by magnetic media.The Connecticut State Unemployment Insurance Agency is:Unemployment Insurance Tax Division Connecticut Labor Department
Teach your employees the concept of preventative maintenance. It is far better to try and prevent an employee theft than try to catch someone after it's already happened. Explain to your staff the nature of employee theft, and the problems it causes for everyone in the store. Most importantly, make it easy for employees to detect and report suspicious activity. Tell them what to report, when to report and the various ways they can report the information. Making yourself accessible to employees is paramount in any situation, especially issue of security. They need to know you support the work they're doing for your business, and when they express concerns you should trust them and take action.
Make sure all employees have proper training before they are left alone or assigned a busy shift. Require a written okay from a supervisor before an employee leaves their training module. As employees learn about your business and become more comfortable, supply them with needed product and pricing information, along with company policies and guidelines for ready reference. This will help avoid mistakes on the selling floor that can also be the source of great monetary loss for you.
A valuable extension of employee training is an evaluation or review. Many companies like to wait six months to develop an understanding of the employee's work habits and accomplishments before the review period, but depending on the nature of your business it may be sooner. One-on-one interaction with your employees builds trust and opens communication, thus regularly scheduled reviews are highly recommended.
Sales Transactions - Ensure your employees are ringing sales correctly and coupons or other promotional offers are logged and discounted accordingly. Check your register tape and cash drawers for unauthorized checks, voids or refunds. Keep a file of employee transactions so you may note when certain staff members have an extraordinary amount of over rings or other suspicious activity. If necessary, monitor the employee until his or her register counts reflect proper and honest work. In extreme cases, you may consider retraining the employee on how to ring special types of sales, for example. Hone in the problem and refer the employee's focus to the training manual until you see improvement. If your cash register is the type in which employees must enter their code in order to complete a transaction, this is a great way to monitor the production of each employee. Prohibit employees from using another employee's code or ID number for any purpose. Also, prohibit cashiers from taking a reading on their register. If there happens to be more cash in the drawer than the reading admits, the employee is tempted to balance the drawer for convenient self-profit. Require that all employees check out through a supervisor before finishing their shifts and exiting the store. This way you can be assured all employee information is correct and all duties are properly completed prior to leaving.
Employee purchases - Do not allow employees to take care of purchases for themselves, friends or relatives. If you reward your employees with a store discount, pay close attention that friends and relatives of employees are not also benefiting from your graciousness. You must require management authorization of all purchases made by employees. Staff members receiving a discount must pay for the merchandise before their shifts are completed. Require employees to keep the receipt for merchandise they purchase or consume for review at shift's end. Never allow your employees to wear or use your merchandise
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