In some instances fraud and corruption under employees, whether in the Private or Public Sector, have become endemic.
In some segments of the retail industry it is estimated that shoplifting by employees cost them more than shoplifting by members of the public. It is also a known fact that some of the big retail stores even hire store-detectives just to look after staff and their shenanigans.
But even the small businesses encounter the same problems with employees but unfortunately they cannot afford the same extremes the big industries can to counter fraud and corruption.
They can only minimize the risk with strong anti-fraud and anti-corruption control and vigilance and the following is some tips in assistance to this phenomenon:
1. Sudden change in life-style: A sudden change in life-style is the most telling symptom of fraud or corruption. It is easy to measure the life-style an employee is enjoying with his remuneration and other perks. Evidence to look out for may be fancy, expensive cars; luxury equipment and furniture; holidays in exotic, expensive destinations; etc.
2. Sudden workaholic: Be sure that something is wrong when the person who normally takes all his vacation leave suddenly turns into a workaholic who now refuses to take leave or to be absent from work for a longish period. Statistics show that a huge amount of fraud and corruption is normally detected when dishonest employees area way from work for some periods. First of all they are not there to cover up their misdoings and secondly normally a reliever has to be appointed who is the ideal candidate to unearth illegal activities of colleagues.
3. Identify the complainants: It is a fact that an employee who constantly complain about his meagre remuneration would be the first to take from the employer what they think is their right to take to make up for financial short-falls. It is those who would even in court on a charge of theft try to justify it. Remember, those type of employees are also the targets for unscrupulous rivals to sabotage the competition financially for a price.
4. Identify the compulsive gambler: The compulsive gambler always believe that he will win big one or the other time. Therefore it is easy to take the employer’s money with the believe that they will be able to pay back when the big win is there. Statistics also show this nearly never happens.
5. Watch out for close relationships with suppliers: Unscrupulous suppliers are always there to entice dishonest employees to inflate prices or steering tenders and contracts their way in exchange for kickbacks, free holidays, expensive gifts etc. Be careful, even unscrupulous clients can do the same for illegal marked-down specials.
The main thing is, be alert and try to be one step ahead of dishonest employees.
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