2012 777 The Seven Blind Spots in Business and How to Prevent Them
-
date post
22-Oct-2014 -
Category
Business
-
view
512 -
download
1
description
Transcript of 2012 777 The Seven Blind Spots in Business and How to Prevent Them
2
Ground Rules
1. Each EXPERT will have SEVEN MINUTES to share their TIP.2. A one-minute warning will sound. 3. Once the signal sounds, no more TIPS! 4. Please hold all questions until the end. 5. There will be approximately 30 minutes for questions and answers after all have shared. 6. Questions should be directed to the moderator. 7. Please keep track of TIPS on the back of your info sheet.
5
Hiring is a Big Deal• Lots of: time, money, effort• Turnover costs: • Minimum wage employee 1/3 to ½
salary ($5,600-$8,500)• $50,000 employee 1 – 2X salary
6
After All this Effort:
• Sink or swim philosophy• We don’t have time to coddle
employees.• No one gave me extra help when I
was new.• We don’t have a training budget;
they’ll just figure it out.
7
Some Employee Statistics• According to research by the Aberdeen Group,
86% of new hires make their decision to leave or stay within the first 6 months; and
• 89% of new hires say they do not have the optimum level of knowledge and tools necessary to do their job.
• According to research conducted by Society for Human Resources Management, 79% of those who quit their jobs cite lack of appreciation as the main reason.
8
Onboarding: deliberate, focused efforts over the first 6 months to a year to help new employees acclimate. • Feel comfortable sooner• Feel competent and become more
productive• Become an engaged team member• Happier customers• Reduced turnover
9
First Impressions Count• Send a new employee packet before the
start date; practical information: dress code, parking, lunch protocol, job description, sense of the culture, etc.)
• Clean work space• Make sure supervisor is in first day• Message: “We’re so glad you’re here!”• Tour, introductions, lunch• Spend time with top executive• Add to all communication lists• Be creative! (freebies, note from
top executive)
10
Tools of the Trade• Assign a mentor or buddy• Provide all the materials and
equipment needed• Provide information or where to find
it• Provide role modeling• Check in periodically to see how
they’re doing; what else they need--weekly, monthly
11
C-o-n-n-e-c-t-o-t-h-e-o-d-o-t-s• What is this job and its purpose? • What does excellence look like?• How does this position contribute to
the well-being of our customers?• Set up informational meetings with
managers in other departments• Communicate goals, mission and
core values
12
Employee Recognition and Motivation
• Recognize early and often!• Give honest feedback and coaching• Determine first year milestones• Recognize and celebrate
accomplishments• Get to know the whole person• Learn what’s important to this
employee
13
What’s good for new staff is good for all
• Don’t have dumb policies• Nip bad behavior in the bud• Encourage and value employee
ideas. Listen!• Engender trust: keep your word,
communicate often (even to say “I don’t know yet,”) never publicly criticize, be consistent in actions, values, practices.
• Accentuate the positive!
15
Risk Management• Once risks have been identified and
assessed, all techniques to manage the risk fall into one or more of these four major categories:• Avoidance: eliminate- withdraw from • Reduction: optimize – mitigate-
disperse and redundancy• Sharing : transfer risk – outsource or
insure• Retention: accept and budget
16
Break it down to the most obvious threats to your operation:• Employees not able to come to work
and the fall out of whatever has happened to them.
• Power/communication interruptions.• What will produce these outcomes?:• Fire.• Flood.• Blizzard/Ice storm.• Theft, vandalism, PHISH reunion.
32
Industry Statistics
2006 2009 CAGR*
Total (billions) 95.2 108.9 4.60%
Checks 30.5 24.4 -7.2%
Debit Card 25.0 37.9 14.8%
Credit Card 21.7 21.6 -.052%
ACH 14.6 19.1 9.3%
2010 Federal Reserve Payments Study
34
Prevalence of Fraud by Payment Method
Type of payment % of organizations subject to attempted or actual fraud in 2011
Checks 85%
ACH Debits 23%
Purchasing Cards 20%
ACH Credits 5%
Wire Transfer 5%
Payroll & Benefit cards 5%
Source: 2012 AFP Fraud and Control Survey
36
Who is committing the crime?Kind of party % of Organizations subject to
attempted or actual fraud in 2011
Outside individual (ie. checks forged, stolen) 85%Organized crime (ei. City specific crime spree) 16%Internal party 11%Third party or outsourcer (ie. Vendor, professional services provider)
7%
Account takeover (ie. Hacked system, malicious code – spyware, malware, man in the middle)
7%
Lost, stolen or compromised laptop or mobile devise
*
Source: 2012 AFP Fraud and Control Survey
37
But why?
•Can’t look at every check•Check Conversion (check 21)•Accelerated availability•Low cost, high quality equipment
38
Regulations are changing…
Isn’t the bank responsible when there is check fraud?
Changes to Uniform Commercial Code (UCC)• Significant rewrite of articles 3 and 4
•Introduced “negligence” and “ordinary care”• potentially shifting responsibility for fraud
•“Ordinary care” requires companies to follow “resonable Commercial standard”
40
What should I be worrying about?
•Keep checks & endorsement stamps in a locked location
•DO NOT take photocopy of checks that come into your office
•Banks will never send you an e-mail asking you for information
42
Other Ways to Protect Your Business•Segregation of duties•Timely reconciliation of accounts•Insist on vacation time off•Protect check stock and endorsement stamps•Positive Pay•ACH Debit Blocks•Create separate accounts for tax payments, payroll, etc.
44
On Sept 17th, 2011 Floyd Mayweather sucker-punched Victor Ortiz in Saturday night's welter-weight title fight in Las Vegas.
46
Security:• Use and Manage a quality Firewall Appliance• Don’t assume that no one wants to access your
data• Don’t store confidential data unless required.
• Credit Card data• Social Security #• Birth Date
• Use strong passwords – 8 case sensitive, alphanumeric
• Change Passwords periodically. 90 days.• Case Study.
47
According to the US Archives and Records
Administration, 93% of the companies
that lost their entire data for 10 days or
more filed for bankruptcy within one year
of the disaster and 50% of businesses
that found themselves without data
management for this same period of time
filed for bankruptcy immediately.
48
Business Continuity:
• If your server was stolen today could you be operational tomorrow?
• What would happen to your business?• What is your Business Continuity Strategy?• Do you test your backup on a regular basis? How
do you know you can restore data?• Business Continuity is not the same as backup.• If you delegate this function, test it quarterly.
51
With today’s technology and pricing, the only reason to lose data or have significant downtime is poor decisions.
Never Click Here!
One Tip: Protect Yourself at all times!
https://www.facebook.com/policies/
Facebook cover images on brand pages are for visually branding
your page – think striking image – NOT advertising
Consumer Engagement
Think Beyond AdvertisingBuild A Relationship
Creating ExperiencesMultiple Touchpoints
Keys To Success
1// Evolve Your Internal Marketing Culture2// Create Experiences
3// Consistent Personality4// Listen & React
5// Empower
82
“I’m not going to do it [all] myself.”Benefits
Workforce flexibility
= Better results
> Efficiency
85
THANK YOU FOR ATTENDING TODAY
Copies of today’s presentation are available for sharing or download at:
www.twitter.com/FamBizSuccess www.facebook.com/vermontfamilybusiness www.slideshare.com/dvdv