Archive for Business Trends
Ways to Reduce Employee Theft
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Unfortunately, during a recession, employee theft increases in various small businesses. Employees become desperate and make the wrong decisions. Therefore, as a small business owner you need to be prepared and prevent employee theft from occurring in your store. Here are a few things to look out for ensuring you do not lose money due to criminal activity.
Watch Your Receipts
Have you noticed more sale voids with specific employees who are not in training mode? Do their average voids exceed the norm of other employee shifts? You need to pay attention for employees may be using voids as a way to keep your money. For instance, if a customer pays $10.00 for a specific item and the sale is void. Then the same customer is charged $8.00 for the exact purchase, your employee may be pocketing the difference. Just be aware of the receipt situation and make sure no one is using receipts as a method to steal money from you.
Count the Register
Some employees that attempt theft will pocket petty cash or change. They may choose to do so a little at a time thinking it will not be a noticeable amount. However, every penny makes a difference. It takes away from your financing and operating costs. Hence, you need to accurately count register cash prior and after shifts.
The most important thing is to remember not to jump to any conclusions. The majority of employees are honest, dependable, and trustworthy people. Otherwise, you would not have hired them in the first place. It is solely smart to take notice of what is occurring during daily business activities. It will save you money and provide you with peace of mind in the end.
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How to Improve Employee Relations during a Recession
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During a recession, times are tough on everyone and, unfortunately, the financial pinch is trickled down to the employees where it is felt the most. Bonuses are cut from the budget, raises are no longer discussed, promotions are not encouraged and employees are thankful for jobs but are stuck financially. Thus, how do you improve the employee and employer dynamic during rough times? There are a few things small businesses are able to do improving the overall satisfaction of its workforce.
Express Gratitude
It is difficult to show appreciation in your small business without offering bonuses. However, employees are still happy to hear it. Thus, tell your employees thank you. For when financial rewards are not distributed, then many employees may feel under appreciated. Thus, you are eliminating any resentment from forming solely by saying thank you.
Allow Flex Schedules
Flexible schedules are growing in the corporate world. More small businesses are adapting it as the norm. The reason being is if salaries are lower due to cutbacks, then the employer must be flexible allowing employees to have time to earn supplemental income. Furthermore, some employees are no longer able to afford daycare for the kids or a babysitter after school. Thus, it provides your employees time to spend with their families, which, in return, will make them happier employees.
Keep Communication Lines Open
Try to implement an environment where employees are able to provide feedback. This helps for if you run a small business where the employee sees a better way to run things or handle a specific order, it improves your quality of service provided in the end. Thus, your business benefits, and the contributing employee benefits making him/her feel productive on a larger scale than initial tasks.
