By Piers Chapple, Galvo Shredders
Running a business is a juggling act at the best of times, but when you don’t keep your eye on the ball things can quickly start to spiral out of control. Keeping your company secure is a constant battle, with new threats arising every year. Between balancing your accounts and keeping your customers happy, it is often easy to overlook some of the more fundamental security practises, especially when your business is new to the market.
In order to keep your business in the black, you need to ensure you’re not at risk of losing money in easily avoided ways. If you leave yourself open to theft or lawsuits because of a lapse in security, it can be difficult to claw back the reputation you’ve worked so hard to gain. By strengthening the following policies and procedures, you can prevent any damage to your business and focus instead on satisfying your public.
- Reevaluate Your Insurance Policy
Chances are you already have a policy in place. It’s probably one you chose to best suit your company when it first started and has covered your business for a number of years. However, things may have changed over this time that have left certain aspects of your policy null and void. For example, if a new employee has joined your ranks in a recently created role, their job criteria may not match the roles stated in the policy.
Checking in with your insurance provider every few months will help you determine whether your policy needs altering and whether there are any new elements of your business that need covering.
- Always Plan For The Worst Case Scenario
No one likes to think about their business going under, but if you don’t plan ahead then you greatly increase the risk of this happening. Understanding where your business could suffer losses will help you draft a risk management plan to combat them.
The key is to leave nothing to chance. You should even factor in what you will do if your business is devastated by an act of God or your main supplier goes bankrupt. There is nothing wrong with a sunny disposition, unless it’s preventing you from saving for that rainy day.
- Strengthen Your Data Protection Procedures
Security breaches can cost a small business thousands, making them one of the most commonly targeted industries. For this reason, you should always treat the secure storage and disposal of sensitive information as a top priority.
Introducing procedures that regulate which documents should be kept and which should be disposed of immediately will mean your staff know exactly how to manage sensitive information. Records deemed no longer of use should be shredded instantly, to ensure they aren’t passed on and lost. A cross-cut shredder will make light work of all paperwork and leaves any information on it indecipherable, making sure your company isn’t hit by data protection fines.
- Check Out Employees Before You Hire Them
Remember that a CV sells only the best features of a candidate. Contacting and cross-referencing with former employers will help you discover more about an employee’s personality and whether or not they have behaved suspiciously at a previous job.
Around 1 in 5 businesses have been affected by employee fraud, making it a much more common occurrence than many managers realise. Never rely on one staff member for all your data handling processes and limit access to your most confidential records, in order to make fraudulent activities easier to spot.
- Maintain Your Health And Safety Standards
Today’s industry is health and safety mad and whilst you might feel like you’re on top of workplace safety, it can often fall by the wayside if you’re not careful. Budget cuts might prompt you to buy cheaper, unreliable office equipment, but it’s a massive risk should these items end up injuring a customer or employee.
Although it might seem like an unnecessary cost at the time, investing in a safety audit can save you a bundle on productivity and potential lawsuits. With all your equipment verified for use, you should see a return in employee morale and, consequently, their workrate.