Perform Safe Risks

I have observed some employers that hire people without checking their backgrounds for a criminal record. Can you guess what would eventually happen?

I am not recommending that every job position require a criminal background reference check but do highly recommend that this prerequisite be done, for employees who will have access to programs or handling finances directly.

The financial losses that a employee can incur upon a business can be quite detrimental and create a sour reputation for the business as a whole from their clients and general public.

Implementing strict financial risk control can be designed with the help of your business Auditor or accountant and possibly your fellow business colleague may have suggestions.

A good start is to ask if the new employee is bondable. This means that a bonding company can investigate their background and find they are trustworthy and “good” enough to insure. This is generally available when an employee has to handle large amounts of money. It is insurance the new employee won't steal.

Ensure that your general manager or CEO enforces these controls or requests a review of the financial transactions and take immediate action for any wrongdoing or suspicious activities.

The importance of financial risk control should be held to a high standard and practicing prevention methods is a excellent start for any business.

I hope you found this article informative. Please feel free to leave your comments and share your own observations. Send me a email if you have a request on a topic of interest.