Although we like to think our employees are honest, that is simply not the case. Some employees steal food, alcohol or other restaurant items while others will go into hard cash.
In an extreme case of employee theft, federal authorities said, "Pancake houses have been turned into dens of crime." Federal authorities indicted 18 people in Ohio last year in a series of criminal charges, including money laundering, insurance fraud and identity theft, which led to a string national restoration losing about $ 3 million.
Although this number is remarkably high, employee theft in restaurants is a huge problem that can drain already scarce budgets. Analysts believe employee theft losses to one percent of sales, which may seem small, but the restaurant profit margins are typically only two to five percent.
According to the Association of Certified Fraud Examiners (ACFE), small businesses are particularly vulnerable to fraud because they may lack the resources and internal controls for financial matters. The ACFE reports that the five mechanisms the most common fraud for fewer than 100 employees organizations are:
- billing fraud
- Corruption
- Check forgery
- skimming
- reimbursement fraud charges
So how do you keep your honest employees and your bottom line healthy? Here are five tips to get you started:
- Keep an eye on the cost of food and beverages: You have your food and pay increased fees while your sales are remained the same? Good record keeping can help you determine if your purchases and sales do not add and may indicate a deeper problem
- Watch box :. If you notice that your cash register is always more and / or less, it may be a sign that someone is skimming not register voluntarily or sound items and taking the wrong amount of cash
- Listen :. Often, your employees and customers will see things you can not. If you start to hear rumors around the restaurant, there is no need to go on a witch hunt, but it may be time to take extra precautions to protect yourself
- Make trust your gut :. If someone or something does not feel right, it probably is not. Take time to talk to employees who act strange or suspect to ensure that all is well. You might be surprised what you find.
- Know your team. It is easier for an employee to steal from someone they do not know. Take a personal interest in your employees and openly about theft and its consequences.
With luck, your employees are doing the right thing. But just in case they do not, a political Ultrapack Plus℠ Erie Insurance covers you up to $ 10,000 in employee dishonesty. It provides protection against dishonest acts of employees and covers loss of money, goods and other real or personal property.
Erie Insurance is committed to the sale of insurance through local independent agents and providing insurance solutions for small businesses. Learn more about erieinsurance.com.
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