Keeping An Eye On Longtime Employees

As a contractor in the Philadelphia area, I don't get time to read much, but "The Inside Job" by Ann Therese Palmer caught my eye, and I found it enlightening.

I have a bookkeeping setup similar to the one described in the article. I have a longtime bookkeeping employee, and I trust this person very much. When I started my business, I put in place some common-sense checks and balances to prevent the type of theft described in the article. But as my company grows, I find myself wanting to delegate more. Recently I have thought about easing some of my previous practices to lessen my involvement in the company's bookkeeping.

The story gave me the desire to keep my checks and balances in place. Somehow, I now feel O.K. about not trusting a longtime employee. It's not that I don't trust this person in particular. Instead, it's a business decision not to trust anyone. I guess it's O.K. to watch every penny like it's mine, because it is!

I think I'll continue doing what I've been doing. It's healthy!


Before it's here, it's on the Bloomberg Terminal.