Dishonest employees cost U.S. organizations an estimated $652 billion a year in occupational fraud losses, the average company loses 5% of its annual revenues to this type of fraud according to the 2006 Report to the Nation on Occupational Fraud & Abuse. It is because of this that the policy and procedure manual plays an important role in every business and organization.
The development and enforcement of policies and procedures are an important responsibility of managers and business owners. A well-written and comprehensive manual communicates to both internal and external stakeholders the rules, regulations, and processes that explain the policies of the business. Policy and procedure manuals are integral to the orientation and training of new and current staff they ensure compliance with laws, regulations, and accrediting organizations, promoting consistency, safety, and enforce the best practices.
Conversely, a poorly developed manual will cause confusion and inconsistency in the workplace. This increases the risk of violating laws, regulations, and health and safety standards. Even worse, an inadequate manual can heighten the risk of injury or harm to patients and employees, and place the organization at risk for lawsuits and other damages. Taking the time to carefully and accurately develop and maintain policies and procedures is an important investment for all managers.
Creating a policy and procedure manual will give your business a clear footing. Employees will be able to reference this material to ensure that they are completing tasks properly and conveying the proper message to the consumer. It is important to invest in your business and make sure all things are working toward helping your business thrive! #policyandproceeduresmanual #acqyrobusinessculture
