Being a business owner implies you must be careful against employee misdeeds. They might take place in the form of embezzlement, larceny, skimming, theft of business opportunities in the market, fraudulent disbursements and more. This is why be vigilant and never take employees at face value.
Steve Sorensen Embezzlement- stop employee misdeeds now
Steve Sorensen is an esteemed financial advisor and financial consultant in Colorado. He is a Certified Public Accountant with years of experience in accounts and finance. He shares information with his clients on how to stop employee fraud and theft. Steve Sorensen Embezzlement tips have helped both large and small- scale businesses to combat fraud and stop embezzlement in the organization.
He says that employee theft can be as small as stealing money from the cash register to falsification of business accounts. He adds that it is vital for the business owner and courts of law to punish the offender. However, diligence must be exercised when it comes to hiring employees in the company.
What should you do if you catch an employee stealing?
If you are a business owner, do not believe in rumors. Other employees in the organization might tell you an employee is stealing money. Before confronting the employee, you need evidence. The investigation can be done. There are instances when third-party investigators have been brought in to help organizations bring the offender to book.
Does your corporate policy have penalties for employee theft?
Your corporate policy should have room for penalties in case an employee is caught stealing. In case, you do not have any clause for employee theft or embezzlement, include them now. These policies should be implemented consistently. It helps in the quick resolution of employee thefts and avoids the complicated litigation process.
Choose the words carefully while communicating
While communicating with the guilty party, you should choose your words carefully. Do not use the word “theft” directly. You can use “violation of the company” instead. You first have to prove the theft has been committed before you take recourse to the company policy or the law.
Be careful with financial responsibility
He says that you should always know your employee well before you entrust financial responsibility to them. In order to avoid cases of embezzlement, you should open a checking account through which all your income and disbursements should pass through. Company audits are vital to check the transaction and spot any form of discrepancy. Delegate responsibilities to different people for financial management. If you are a small business owner, ensure you have all the financial matters of the company under your control. Checkbooks of accounts regularly.
Follow the Steve Sorensen Embezzlement tips and protect your organization from fraud and employee theft. When you are hiring employees for your company, conduct background checks online. They are free of cost and will give you an insight into the criminal history of a potential employee. Prevention is always better than a cure- it is wise to be safe over sorry!