Handling of employee fraud.

[letteredhub]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

[AmaGold70]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

You are very correct. Your business may not fail as a result of competitors, but as a result of criminal activities of employees working in your company. However, it is important to treat your employees as partners, give them their entitlement, salary and allowances should be given as at when do, and also ensure you pay them well to avoid employees from stealing, and more also, ensure their is regular auditing of every department in your company to know if things are going smoothly or not.
If you discover any act of misbehaviour from any employee, do not hesitate to punish the person accordingly, by so doing other employees will learn their lessons and remain cautious while working with your company. Many factors can make an employee misbehave, as the CEO of the company, find out those things that make employees to misbehave and correct them, by so doing employees will work productively and in accordance with your directives and company policies.

[rat03gopoh]

You can get rid of 1 or 2 employees who are known to be cheating, but there's no need to keep them. It's unlikely that all your employees would be tricking you if there wasn't something wrong with your leadership style or you've entrusted the wrong people with crucial tasks (usually involving company secrets). If that happens, it's just one sign that your company is doomed. But the greater damage has already been done, and it's usually only realized too late.

[DrBeer]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

This is a very delicate issue. To begin with, in my opinion, we should recruit competent, results-oriented employees. Secondly, the remuneration and motivation model should be designed to ensure that they work effectively. Strict control is a “technique” used in “closed enterprises” or, for example, in the military-industrial complex, where strict control is necessary at every step. Strict conditions in private business can sometimes have the opposite effect.

[sleepfirefly]

as employers, it’s important to maintain a healthy working relationship with your employees however we should also always remember that not our employees are loyal. some may cause harm to the business so it’s better to not trust them but still maintain balance

[Fiatless]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

In order to have more than one source of income, many full-time workers are starting businesses and employing people to run them. I have seen many of these businesses go bankrupt because of poor management by these employers. It is very difficult to see employers who are trustworthy.

My view now is that don't start a business if you don't have the time or proper strategy to monitor the operations. You might be indirectly feeding thieves with your business if there are no internal controls.  

[Moreno233]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

Speaking from the angle of my understanding, the biggest motivation for employee fraud in this part of the world is underemployment. Apart from the multinationals and few indigenous companies, the entire work force of most African countries, including mine, are underemployed. Civil servants in my country, for instance are hardly paid up to $200 monthly and even university professors earn less than $500 per month. This leaves room for fraud because they have to exploit the system to be able to pay their bills. If workers are ell paid, the tendency for fraud is greatly reduced. Check the IOCs as a case study, their staff are happy and have no motivation for fraud unlike some companies and even government workers, they channel all their energy on how to exploit the system.

Those of you that want to be entrepreneurs, pay attention to your workers renumeration and welfare, if they are well paid, they will give their life to the work and protect it with everything they have.  

[letteredhub]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

This is a very delicate issue. To begin with, in my opinion, we should recruit competent, results-oriented employees. Secondly, the remuneration and motivation model should be designed to ensure that they work effectively. ...

Recruiting competent employee with reputable background is important and, as for renumeration, I feel some of the time that this happens in an organisation it ain't about the renumeration model but about the employees character, some employees just want to get rich quickly and they think stealing from the company would help aid their primitive accumulation towards self enrichment.

[Uhwuchukwu53]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

This is a very delicate issue. To begin with, in my opinion, we should recruit competent, results-oriented employees. Secondly, the remuneration and motivation model should be designed to ensure that they work effectively. ...

Recruiting competent employee with reputable background is important and, as for renumeration, I feel some of the time that this happens in an organisation it ain't about the renumeration model but about the employees character, some employees just want to get rich quickly and they think stealing from the company would help aid their primitive accumulation towards self enrichment.

All these are necessary for me but employers must only also consider one major thing for the employee, because many fraud by employee is as a result of poor welfare from the employer many employees are not comfortable with their jobs but can't leave the job as it's the only major source of their income  a good employee welfare curve out fraud, remember every employee dreams is to grow but where they are not due to much monitoring they will device means where they can fraud the company as they gain nothing. Once employee are compress where things that will make them feel more comfortable and take the company as their own expect fraud as inevitable character that must exist either by group of employees conniving or individually.

[KiaKia]

as employers, it’s important to maintain a healthy working relationship with your employees however we should also always remember that not our employees are loyal. some may cause harm to the business so it’s better to not trust them but still maintain balance

Many businesses have unfortunately shut down because of the workers and employees that choose to rob the business from within, it takes monitoring for someone who owns the business, most people knew after it's already too late..

Make sure you don't trust anybody, even if they are friends or family or business partner, this world is not like the past years anymore, people are frustrated already, they are now looking for all means to make money,  including stealing.

Monitor and do the accounting yourself, having relationship with workers won't stop anyone of them from hurting or stealing from you, even if you pay them very well some won't still be satisfied unless they steal from you.

[noorman0]

-snip-
I feel some of the time that this happens in an organisation it ain't about the renumeration model but about the employees character, some employees just want to get rich quickly and they think stealing from the company would help aid their primitive accumulation towards self enrichment.

Corrupt behavior is rooted in complex problems, I do not agree that employee character is the only cause of fraud in the world of work. You may have heard that a talented employee has to fraud due to work environmental and culture pressures such as normalized petty corruption, high competition, etc. It is not always about instant wealth initiatives, sometimes self-preservation in extreme ways also leads employees into a cycle of deviant behavior.

[Agbe]

The case of internal or employee fraud has destroyed lots of businesses and in as much as other factors can contribute to it This is one of the main issues and the employer has to be blamed for all that. workers should be employed not based on sentiment or personal relationship, this is what has led to the collapse of a lot of businesses today, People should be employed based on competence and they should be monitored.

[AprilioMP]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

It is true that the biggest challenge lies internally, not externally. External challenges can be overcome through cooperation and unity to continue striving to make a difference to consumers with products created by competitors. Usually, businesses run by more than one owner do not last long, even though there is one person who is able to act as a mediator, turning differences in mindset into a concept to be marketed.
Still within the internal realm, a serious challenge is that people often start a business because of a trend without truly knowing whether the market needs it.

[Yeesha]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

You are extremely right, but that doesn't mean that the employers should overwalk and enslave their workers. The relationship between the employer and the employees matters a lot in business, and it can affect the business both positively and negatively. The rate of loyalty your employees will have for you, is depending on how much you treat them (which is how you respect them or mistreat them). I know that it is very important to take work seriously, but it is very important for the employers and workers to developed that mutual respect and mutual understanding between them. They should have good relationships with each other. Being competitive in the place and among the workers, is actually a great thing, because it encourages a lot of the works to do better. Workers are the backbone of the business and they must be respected, and at the same time, they must abide by the rules and regulations of the company, and respect their principles.

[EluguHcman]

It is your personal responsibility to take absolute control of your events or organization and never outsiders who  has no beneficial connection in it. Even those who are employees or shareholders in the company can crumble the organization where the general management is poor.

The marketplace will ever remain a competition because an established ideal that is obviously lucrative can be attract others to also venture into it (market entry) especially to those who have the finance to fund the business, afford the risks and good understand of creativities about the business.

Others who may venture into it without proper knowledge will always collapse that you don't have to make the competition an excuse to why you are not successful. Perhaps if the business is providing the needs of the people, and you have your own business strategies with disciplines, you will always make it successful.
Consistency will always be a challenge because to standout in a competitive marketplace may require your active ness in the long run.

[Coyster]

It is easy to understand that the most difficult aspect of a business is getting good staff. If you have ever run a business of any scale, you'd understand that managing staff is at the forefront of your affairs. No business can run without manpower, and it has to be managed differently from other business resources, like, machines, materials and money, which are all non-living entities.

That said, this is why management is the most important part of an organization or business. With good management you get the most out of your staff and there is a structure to regularly replace errant ones without adversely affecting the business, ensuring it is always running smoothly.

[Fortify]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

You should definitely build systems with appropriate logging and auditing trails, because there are many people out there who will take advantage of lax security at one point or another. Somebody can appear as the nicest and even most competent employee ever, but then steal from you the moment your back is turned. Not only that they will bare faced lied until they are red in the face that they've done nothing wrong, so you must have solid evidence to catch them in the act at a level a court would accept (because they might go there for wrongful dismissal claims if you do not have solid proof.

[GeorgeJohn]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

what you outlined is why it's necessary to conduct a market surveyor before establishing a business, a place where theirs a competitors in the market, it's not encouraging to establish business, likewise a place that doesn't have population and no social amenities...This are factors to be consider before establishing a business..

Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

In summary, a company owner most derived a protective means to secure his business so that employees will not ruin the business, a financial fraud by the employees are the one of the factors that collapse a company if not handled with care...That's why a company owner have a monitoring team that observe all the employees, and if a company owner is not effective in his company, it's obvious that his business can collapse at any point in time....so it's necessary that before establishing any business you have to make enquiring, for the safety of your business..

[Coyster]

what you outlined is why it's necessary to conduct a market surveyor before establishing a business, a place where theirs a competitors in the market, it's not encouraging to establish business, likewise a place that doesn't have population and no social amenities...This are factors to be consider before establishing a business..

Feasibility study is pertinent before an entrepreneur starts any business or project. Failing to do it means you'd be unable to figure about what your strength and weaknesses are, nor understand what your opportunities and threats are in the venture you want to undertake. That said, it is important to point out that you'd face competition in any business you want to start today, there would definitely be others who have started it before you. So if you are so scared of competition, you would prolly never kick start your startup.

[Pablo-wood]

Beyond all an employer should be actively involved in the day to day running of their businesses. Most employees are smart and the can craft out strategies I'm which they use in the carry out their fraudulent activities. One can only have a positive internal control when they are actively involved in the daily running of their business. That wall it will close up loopholes where potential fraud would have been successful and even reduce it to its minimal even though it can't be avoided completely especially for big establishment and organisation.