There are several important steps you can take as a self storage owner operator to prevent or mitigate a human resources crisis before it happens. Here are helpful preventative tips that I’ve learned from my 13 years of facility management experience that can help prevent or mitigate human resources crises at your facility.
Human Resources Employee Theft
- Create financial controls to check and account for the accuracy of daily deposits. A team member not involved in the deposit needs to make sure the daily deposit slip matches both the bank receipt and your property management systems report line item for the day.
- Create a cap on how much money your frontline employees can waive or credit for late fees. Usually, this can be set up in your property management system.
- Implement operational financial controls on spending approval limits for supervisors. For example, District Managers can approve expenditures up to $1,000. Vice Presidents can approve expenditures up to $3,000 and Chief Financial Officers (CFOs) can approve disbursements up to $5,000.
- Learn more about business processes and supervisory controls for businesses.