Learn about embezzlement from Steve Sorensen. Embezzlement may not seem like a big threat—what’s a few stolen dollar bills? But the truth is that small incidents of theft can open the floodgates for bigger and more damaging acts. For you and your business’ protection, you can stay tuned to this page to be educated on the matter.
When it comes to embezzlement, many business owners shrug it off, as if their company is immune from such incidents. Many think that they have honest and trustworthy employees around who wouldn’t dare think of committing such a crime. However, the truth is that it’s these companies that are too trusting that are most vulnerable to embezzlement.
As a financial blogger who is looking out for your best interest at all times, I’m afraid to say that I don’t care whether your employees have passed your own trust and loyalty checks, that they will never commit acts of theft against your business. As a financial blogger who cares about you and your business success, I’m here to say that there’s very little to gain from trusting your employees too much.
I’m of the mind that too much trust in the workplace can lead to complacency and laziness; this is aside from the risk of embezzlement. Now I’m not saying this happens all the time, but because business is business, it’s always better to be safe than sorry, which brings me to this post about the warning signs you should look out for.
If any of these scenarios apply to you, it may be time to rethink your employees’ behavior and add more security measures in the workplace:
The employee stays later than others – So he or she is working overtime, and you think this is commendable. He or she is driven and hard-working, which is why he or she stays later than others. This act may not necessarily be a red flag, but you should look into it nonetheless. For all you know, the “hard-working” employee is hard at work stealing from you, from cash to small supplies.
The employee volunteers for more duties – This is a tricky one. Proactive employees are always welcome in the workplace, but when he or she asks for duties and responsibilities that have to do with money—keep a watchful eye! An invoice here, an invoice there, collecting and depositing, be suspicious of why your employee would want to be entrusted with such tasks. Don’t buy into the lie that he or she wants to help, and take some of the work off your hands.
The employee never takes a vacation – Another tricky one. While there seems to be nothing wrong with not taking a vacation, the bigger picture you should be looking at is the why. Certainly, there could be more to it than him or her loving his or her work. For all you know, the employee doesn’t want anyone to discover his or her tracks, why is why he or she is always on guard and at the office.
To read more articles by Steve Sorensen, about embezzlement, finance, and business, feel free to visit his Blog page.