I came across an article on someone who was charged with embezzling money ($2.2 million) from the company they worked for. It reminded me of a leadership tip I wrote a number of years ago and I thought it would be worth repeating here.
You can read the article here if you want to learn how the accused did it and how he got caught.
Could something like this be happening in your organization right now?
Perhaps if the company involved, did a better job with their policies and procedures they may have caught this guy sooner. They needed tighter controls and they needed to follow them closer.
My leadership tip for you this week is to elevate your policies, procedures for air-tight control and implementation.
Here are 7 – places for you to begin your evaluation … recognize you likely have more places to look.
Is your current credit approval process for customer’s air-tight?
Is your pick up and drop off procedures for materials and supplies air-tight?
Is your funding and expense approval process air-tight?
Is your procurement of goods and services policy air-tight?
Is your computer data and personal identity air-tight?
Is documentation for everything your organization does air-tight?
Is your current vetting process when hiring new employees air-tight?
I know what you’re thinking, we’re all very busy, we’re short on staff … and we don’t have time for this right now. I argue, you should make time for this now because it may be costing you big bucks and you don’t even know it.
You cannot afford to take things for granted. There are plenty of crooks in this world so you need to constantly protect yourself, your family and your business.
It’s easy to be scammed, but it’s easier to have air-tight controls in place to ensure the scammers take their business elsewhere.