To help our payroll, HR and workforce management clients keep well-informed, we are about to launch our new payroll newsletter: AccSys Payroll Quarterly. Each issue will feature a topic particularly of interest to Canadian Payroll, Human Resource and Workforce Management professionals, in addition to important upcoming dates and interesting links. A sneak peek of our first feature article is below…
Four Practices to Keep Your Company More Secure
Putting in place the right mixture of internal and external controls is what will make or break a company. Below we discuss four well-known (but very often neglected) business practices that can greatly reduce the risk of theft and prevent exposure to serious losses.
#1. Employers should be conducting thorough pre-employment and background checks. It is critical that a strong hiring process be in place — and kept in place — to screen all would-be employees. A general background check, as well as a deep background check, will help ensure company security by weeding out potential problem people before they can get on board and do damage. Nearly anyone can interview well. The key is to instead look for a proven track record of success. If all you have is a sharp, charming interviewee, then red flags should be coming up.
References (at least 3) should be contacted and questioned about an individual. These references need to compose just one in a list of factors to determine credibility, not just of the would-be employee, but as a type of indicator of who the would-be employee associates him/herself with. How credible were the references? What impression did they give you?
#2. Multiple employees should act as a check-and-balance accounting system. Assigning more than one individual to keep track of bookkeeping is just smart. Two witnesses for vault access are better than one. One single set of eyes is more likely to consider and carry out theft than two or more.
#3. Strictly limit employee access to all HR and protected business intelligence. A proper security team in place, with restricted room access and other security protocols enforced, will make sure that the right employees are only able to get access to whatever documentation they need. Any and all documentation or data should be what is needed to do the job, and nothing more. Vital business statistics and other sensitive data that concern daily operations should not be passed around openly. Confidentiality is key!
#4. Random audits should become a well-loved practice.The best audits are even better when they are performed at random, excluding no one. They are to be completely unannounced and regularly done at all levels. This should extend to every department from top to bottom.
Policies and procedures are not your enemies, they are your friends. If put in place and trusted to do their job, they will support you well. It is up to a diligent management team and a trusted process to ensure a company’s longevity and profitability, and it starts with you!
Visit our website to learn more about our workforce management solutions, and be sure to download our Workforce Management Challenges for Small to Mid-Sized Businesses White Paper here.