Running a business is never completely risk-free. It can be financially risky or even become a risk to your reputation. When businesses grow rapidly, they can become stuck in the mindset of a startup. Don’t fail to fully calculate all the risks that come with increased orders, more customers, and bigger staffing pools. If you haven’t fully analyzed what your business could be missing in the last year, start with these 5 checks:
Staff Security
Whatever you’re selling, chances are someone out there might disagree with what it is, how it’s produced, or where you’re pitching it. You can’t please everyone all the time. You might also be concerned with your geographic location of operations. Some neighborhoods can be rougher than others. Are your employees safe as they enter and exit the building? Are the property and grounds well lit? And is there a way to record the comings and goings of all the people that work there? Staff IDs, digital entry system, or a simple manned reception area can help here.
Data Security
The files on your server must be secure. They might contain your marketing strategy, your supplier invoices, and your personnel records. It has to withstand an attack or breach. Do you know how it works and if it has succumbed to a hack? Daily reporting and analysis are essential. This might be automated, or you may have someone on staff to take care of it. Have a plan of action should the worst happen.
Customer Transactions
Your business relies on sales of services or products. If your customers are conducting fraudulent transactions, you may as well give your products away for free. High value or credit purchases, in particular, can be protected. Find services online like Face Match from Netverify for identity verification that saves your sales team time and can reduce instances of fraud.
Building Safety
In an emergency, you need to know your personnel can escape the workplace without injury. This should be checked very regularly. The more staff you have, the more training you need to provide. Check with your local authority for the latest regulations and requirements. Beyond emergencies, you should also ensure the building is structurally sound. Storms can cause problems, as can vandalism. You might have a permanent janitor on staff or maybe contract a security team. Make sure they are fully reporting any concerns. Access to your building could be jeopardized if anything is missed.
Rules And Contracts
In the beginning, you may have been hiring from a select pool of trusted friends and family. As your company grows, you’re casting your net wider to reach the best talent to help develop your business. Sales teams that are out on the road often carry confidential data with them. You can’t always monitor who they are talking to or what information they are relaying. Equally, disgruntled employees will move to your competitors. Make sure the contract of employment is tight and in your favor when it comes to customer transference or loss of data. Don’t forget – you may need to speak to union reps if you need to make adjustments to employee contracts.
