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Who will handle the cash?
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August 17, 2000: 1:38 p.m. ET
At your new location, assign your most trusted employee to keep an eye on the till
By Jane Applegate
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NEW YORK (CNNfn) - Dear Jane: We are in the process of opening our second food outlet. Since we won't be able to be there supervising all the time, who can we trust to handle the money?
Opening a second location is exciting and problematic. I'd suggest sending your most trusted employee to manage the new store -- at least for the first six months. Although you'll miss their help at the original location, you will probably sleep better at night knowing that a veteran employee is in charge of the new store.
Employees often justify stealing from the company when they feel underpaid and under appreciated. If you are paying above minimum wage, treating people fairly when it comes to scheduling their hours and offering incentives for good work, you shouldn't have problems.
In an all cash business, there are inherent temptations, but you can minimize them by making it clear that you will have zero tolerance for theft. If you catch someone, they will be fired immediately.
Veteran retailers often assign different people to open and close the store. A less experienced worker can open the store, but assign a trusted veteran to close it. The closing person should spend extra time counting the money and recording deposits.
Visit the store frequently, but change your schedule so your visits are unpredictable. Always walk in to your store and look at it with fresh eyes, pretending you are a customer. Make sure the sidewalk in front of the store is clean, there is no trash on the floor and the restrooms are sanitary.
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