These 2 Oversights Could Harm Your Booming Business
Employee theft is a serious source of concern for many businesses as it leads them to incur hefty losses. Luckily, carrying out a thorough background check on all your hires can help you avoid this.
Imagine this scenario: You’ve worked hard on your business. You have committed a lot of time, money and effort to get it off the ground. Finally, the business is picking up and you onboard more people. At first, everything is going well, and you are making money.
Suddenly, the numbers don’t add up. You are selling more, but making less money. You can’t figure out the problem. If you are in such a situation, you might have broken a few cardinal rules.
1. You recruited from the wrong crowd
A recent report found that employee theft was a leading cause of business loss, second only to shoplifting. Skipping a background check puts your business at risk of theft and other malicious practices.
Thankfully, in places such as South Australia (SA), police check online services can help you vet your new hires and weed out the wrong crowd.
2. You have weak systems
Successful businesses have checks and balances as well as policies and procedures in place to protect you against employee misconduct. Today, theft goes beyond pilfering to include fraud. Some employees might collude with shoppers to defraud your business with chargeback schemes or worse.
By refining your business processes and identifying loopholes, you can eliminate them. Otherwise, you are likely to fall victim to white-collar crimes without your knowledge. In such case, it is advisable to hire an expert to help you design a foolproof system.
Theft by employees can lead a business to register heavy losses that could cripple its operation if they are unlucky to hire dishonest workers. Luckily, carrying out a background check helps to weed out the bad.