Protect Your Business In This Sluggish Economy

As we all know, times are real tough for everyone right now. Gas and food prices are high. People are worried whether they have enough money to fill their gas tank for their vehicle and food to feed their family. It is also on the mind of so many people, how and if they are going to be able to make that next mortgage payment. What makes things even more stressful, is that the job market is very unstable. I think we all know of companies that are cutting back staff. Employees are expected to work more and do more with less.

No wonder why people are stressed! When there is stress in people's lives, they tend to do behavior they would never do under normal circumstances. Included in that behavior is stealing from the company they work for. And yes...... even the good people that we rely on each and every day could possibly be whom we need to be concerned about.

When I talk with employers about who they believe would be likely suspects to steal from them; many feel it is the lower paid employees. This is not always the case, especially in these times. Employees that get paid higher wages, can have bills and debt that are much higher than the lower paid employees. Therefore, we must be aware there is risk at all levels.

With the sluggish economy, obviously businesses are feeling this in their revenues. Although this is definitely the time to come up with creative ideas to market your business to bring in more money, this is also the time to evaluate the risks and liability in your business; what money is walking out the door, either in cash or in product?

Below are some things to look at now to ensure you have measures in place to protect your business:

• Do you have an inventory system in place? : Do you know what you currently have on hand for product? If items are sold or taken out of the inventory, are you aware of this? Do you conduct a monthly inventory to evaluate what (if any) loss of product you are experiencing?
  
  
• Do you have an Alarm System Protecting Your Business?: When you are closed for business, are you protecting your business with a first-class alarm system, in which there is an immediate response by a company if someone breaks in? Criminals will tend to target businesses with no alarm system. Although this is not the answer to all problems, it is a great deterrent. Make sure that if you do install an alarm system, only give the codes to a select few people that need to know it.
  
  
• Do you Have Cameras in Place?: Cameras are a great deterrent for people not to commit theft in your place of business. Cameras are so important to have in place, to make sure your good people are protected and the bad people are either deterred from committing a crime or can be caught if they have committed a crime. There are so many ways that people can get around putting money in a cash register, instead putting it in their pockets. An employee who has intent of stealing will figure out a way around the system. Therefore, when installing cameras, make sure you are covering critical areas such as entry and exit doors, cash registers and your valuable inventory.
  
  
• Do You Have Policies and Procedures in Place?: It is so important to write out the rules and regulations of your business, so there is no misunderstanding for employees what they can and can not do. Ensure that your employees sign a copy of your rules and regulations and put a copy in their personnel file.

These are tough times and unfortunately even real good people can come into a desperate situation and do something such as stealing from the company they work for. It often starts off small (testing the controls in place) and if not caught, they get bolder and steal more product or money. This is the time to make sure your business is highly protected and reduce the risk for your employees to become even tempted in stealing from the company. Your business is too important. Start today.....Protect Yourself. Protect Your Assets....