Right under your nose?!?
Recently, a friend and client told me a story about how their shipping guy had been cashing in the loyalty program awards from FedEx for himself.
Obviously, this is a problem…
A) Were they even aware of the loyalty programs offered by vendors?!?
B) Do they have a policy about vendor loyalty programs and who is entitled to them?
C) Is the shipping guy perhaps using FedEx because it’s the best, most economical option for the company or is he using them just because he’s collecting the loyalty program bonuses?
This brings up a couple of ideas…
- Are you aware of the loyalty programs offered by your vendors?
- Have you checked recently or compared the value of the services from these vendors? (With or without the extra perks?)
Back in the day, when we were shipping a physical software product (today it’s our online business development dashboard), we used to ship physical boxes with software, user manual, etc., we discovered that, when we shipped UPS Next Day and UPS 2nd Day Air, that most customers got everything the next day anyway.
So we decided to standardize on shipping everything whether it was Ground, Next Day, or 2nd Day… by 2nd Day Air. Overall, it was just more economical operationally to use one shipping method. (But, if it absolutely, positively had to be there the next by by 10 am, we did use FedEx.)
Something to consider.
Anyway, in the above example, my friend was able to enter the vendor’s loyalty program online reports page to determine exactly how much was rewarded / stolen by the employee.
- Perhaps an audit of your vendors’ loyalty payouts is in order?!?
- How to handle the employee misconduct?!?
When was the last time you reviewed your employee policies and procedures for your company?
Going into 2019, it might be a good idea.
You could save a lot of money and a number of headaches as well as run a much tighter ship for a more efficient and profitable business.
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