Friday, July 3, 2015

When a Long Term Employee can be bad for Your Business:

Area in which a small business or service can be vulnerable:
             Long term, long time employees in your financial division that never take a vacation
You might believe this to be a good thing, but any scheme or plan to systematically divert funds takes care and maintenance.  An employee who is so much in control may be hiding something.
How to Address This:  Force all employees to take a two week vacation.  Not split – the full two weeks.  Most fraud schemes will fall apart if left unattended for two full weeks and your substitute can inform you of any aberrations.
CAVEAT: If you have two employees who cover each other’s position, bring in a third to fill the vacationers spot.  You might have fostered a team approach to your theft.

By Maura Phelan (