Statistically, at least 40% of all (if not more), dental practices will be the victim of employee embezzlement. Employee embezzlement has an enormous financial and operational impact on a dental practice. However, there are many signs that employee embezzlement may be taking place. Here are some of the most common warning signs of employee embezzlement:
• An employee is having financial difficulty
• An employee’s changes in personality
• An employee with newfound wealth
• An employee is always first to arrive and last to leave
• An employee who is very controlling
• An employee who is taking work home
• An employee who is resistant to change
• An employee is constantly working overtime without sufficient reason
• An employee who never takes vacation/sick/personal days
• An increase in past due accounts or a decrease in collections
• Co-worker complaints about a specific staff member
• Inconsistent financial records
Employee embezzlement can be very difficult to discover. Therefore, it is important to look for several warning signs regarding an employee’s behavior.
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