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7 Experts – 7 Tips – 7 Minutes The Seven Blind Spots of Business

May 23, 2012

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Ground Rules

1. Each EXPERT will have SEVEN MINUTES to share their TIP.2. A one-minute warning will sound. 3. Once the signal sounds, no more TIPS! 4. Please hold all questions until the end. 5. There will be approximately 30 minutes for questions and answers after all have shared. 6. Questions should be directed to the moderator. 7. Please keep track of TIPS on the back of your info sheet.

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Today’s moderator

Veronica WilliamsPresident

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Jill MuhrDirector of Operations

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Hiring is a Big Deal• Lots of: time, money, effort• Turnover costs: • Minimum wage employee 1/3 to ½

salary ($5,600-$8,500)• $50,000 employee 1 – 2X salary

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After All this Effort:

• Sink or swim philosophy• We don’t have time to coddle

employees.• No one gave me extra help when I

was new.• We don’t have a training budget;

they’ll just figure it out.

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Some Employee Statistics• According to research by the Aberdeen Group,

86% of new hires make their decision to leave or stay within the first 6 months; and

• 89% of new hires say they do not have the optimum level of knowledge and tools necessary to do their job.

• According to research conducted by Society for Human Resources Management, 79% of those who quit their jobs cite lack of appreciation as the main reason.

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Onboarding: deliberate, focused efforts over the first 6 months to a year to help new employees acclimate. • Feel comfortable sooner• Feel competent and become more

productive• Become an engaged team member• Happier customers• Reduced turnover

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First Impressions Count• Send a new employee packet before the

start date; practical information: dress code, parking, lunch protocol, job description, sense of the culture, etc.)

• Clean work space• Make sure supervisor is in first day• Message: “We’re so glad you’re here!”• Tour, introductions, lunch• Spend time with top executive• Add to all communication lists• Be creative! (freebies, note from

top executive)

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Tools of the Trade• Assign a mentor or buddy• Provide all the materials and

equipment needed• Provide information or where to find

it• Provide role modeling• Check in periodically to see how

they’re doing; what else they need--weekly, monthly

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C-o-n-n-e-c-t-o-t-h-e-o-d-o-t-s• What is this job and its purpose? • What does excellence look like?• How does this position contribute to

the well-being of our customers?• Set up informational meetings with

managers in other departments• Communicate goals, mission and

core values

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Employee Recognition and Motivation

• Recognize early and often!• Give honest feedback and coaching• Determine first year milestones• Recognize and celebrate

accomplishments• Get to know the whole person• Learn what’s important to this

employee

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What’s good for new staff is good for all

• Don’t have dumb policies• Nip bad behavior in the bud• Encourage and value employee

ideas. Listen!• Engender trust: keep your word,

communicate often (even to say “I don’t know yet,”) never publicly criticize, be consistent in actions, values, practices.

• Accentuate the positive!

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Jon JamiesonPresident

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Risk Management• Once risks have been identified and

assessed, all techniques to manage the risk fall into one or more of these four major categories:• Avoidance: eliminate- withdraw from • Reduction: optimize – mitigate-

disperse and redundancy• Sharing : transfer risk – outsource or

insure• Retention: accept and budget

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Break it down to the most obvious threats to your operation:• Employees not able to come to work

and the fall out of whatever has happened to them.

• Power/communication interruptions.• What will produce these outcomes?:• Fire.• Flood.• Blizzard/Ice storm.• Theft, vandalism, PHISH reunion.

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Amy Mailloux, CTPVice President

Senior Cash Management Advisor

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Agenda

•Scope of check fraud?•Mitigate the risk?

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Nearly 60% of all business transactions are made by check!

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Industry Statistics

2006 2009 CAGR*

Total (billions) 95.2 108.9 4.60%

Checks 30.5 24.4 -7.2%

Debit Card 25.0 37.9 14.8%

Credit Card 21.7 21.6 -.052%

ACH 14.6 19.1 9.3%

2010 Federal Reserve Payments Study

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Why checks?

•Float•Fraud Prevention Services•Reconcilement•Remittance

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Prevalence of Fraud by Payment Method

Type of payment % of organizations subject to attempted or actual fraud in 2011

Checks 85%

ACH Debits 23%

Purchasing Cards 20%

ACH Credits 5%

Wire Transfer 5%

Payroll & Benefit cards 5%

Source: 2012 AFP Fraud and Control Survey

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2012 AFP Fraud and Control Survey shows that…..

Fraud is up 25%

Average loss

$19,200

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Who is committing the crime?Kind of party % of Organizations subject to

attempted or actual fraud in 2011

Outside individual (ie. checks forged, stolen) 85%Organized crime (ei. City specific crime spree) 16%Internal party 11%Third party or outsourcer (ie. Vendor, professional services provider)

7%

Account takeover (ie. Hacked system, malicious code – spyware, malware, man in the middle)

7%

Lost, stolen or compromised laptop or mobile devise

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Source: 2012 AFP Fraud and Control Survey

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But why?

•Can’t look at every check•Check Conversion (check 21)•Accelerated availability•Low cost, high quality equipment

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Regulations are changing…

Isn’t the bank responsible when there is check fraud?

Changes to Uniform Commercial Code (UCC)• Significant rewrite of articles 3 and 4

•Introduced “negligence” and “ordinary care”• potentially shifting responsibility for fraud

•“Ordinary care” requires companies to follow “resonable Commercial standard”

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What am I worrying about?Usually the WRONG things…….

Who is the boogey man?

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What should I be worrying about?

•Keep checks & endorsement stamps in a locked location

•DO NOT take photocopy of checks that come into your office

•Banks will never send you an e-mail asking you for information

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#1 Way to Prevent Check Fraud

Check your account on-line EVERY day.

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Other Ways to Protect Your Business•Segregation of duties•Timely reconciliation of accounts•Insist on vacation time off•Protect check stock and endorsement stamps•Positive Pay•ACH Debit Blocks•Create separate accounts for tax payments, payroll, etc.

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David RosePresident and Founder

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On Sept 17th, 2011 Floyd Mayweather sucker-punched Victor Ortiz in Saturday night's welter-weight title fight in Las Vegas.

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Protect Yourself at all times!IT Basic & Pitfalls

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Security:• Use and Manage a quality Firewall Appliance• Don’t assume that no one wants to access your

data• Don’t store confidential data unless required.

• Credit Card data• Social Security #• Birth Date

• Use strong passwords – 8 case sensitive, alphanumeric

• Change Passwords periodically. 90 days.• Case Study.

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According to the US Archives and Records

Administration, 93% of the companies

that lost their entire data for 10 days or

more filed for bankruptcy within one year

of the disaster and 50% of businesses

that found themselves without data

management for this same period of time

filed for bankruptcy immediately.

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Business Continuity:

• If your server was stolen today could you be operational tomorrow?

• What would happen to your business?• What is your Business Continuity Strategy?• Do you test your backup on a regular basis? How

do you know you can restore data?• Business Continuity is not the same as backup.• If you delegate this function, test it quarterly.

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With today’s technology and pricing, the only reason to lose data or have significant downtime is poor decisions.

Never Click Here!

One Tip: Protect Yourself at all times!

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Nicole Junas RavlinCo-founder

https://www.facebook.com/policies/

Facebook cover images on brand pages are for visually branding

your page – think striking image – NOT advertising

You must administer ALL contestson Facebook via a third-party app

ON the Facebook platform.

Insights = Measurement

Photo provided by facebook

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Issa SawabiniPartner

Awareness vs Engagement

Control

You Are Losing Control

Consumers Are Defining Brands

Shifting Mindset

Progression

Awareness / Adoption / Loyalist / Advocate

New Marketing Philosophy

Shouting Isn’t Enough

Consumer Engagement

Consumer Engagement

Think Beyond AdvertisingBuild A Relationship

Creating ExperiencesMultiple Touchpoints

New Marketing Philosophy

7 minutes vs. 420 seconds

Two Way Dialog

EngagingSharingAsking

AnsweringEmpowering

ReactingRewarding

New Marketing Philosophy

Chief Engagement Officer vs. CMO

360 Integrated Approach

ExperientialDigitalSocial

AdvertisingPR

RetailTrade

Why Care?

RecallPreference

Purchase IntentLifetime Value

Why Care?

It’s What The Consumer Expects

Keys To Success

1// Evolve Your Internal Marketing Culture2// Create Experiences

3// Consistent Personality4// Listen & React

5// Empower

Stop Shouting & Start Engaging

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Porter KnightAuthor

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“I can do it [all] myself.”

SHRED the illusion Sleep Hobbies Relationships Exercise Diet

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“I can do it [all] myself.”

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Process Documentation

Spell it out, step-by-step

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“I’m not going to do it [all] myself.”Benefits

Workforce flexibility

= Better results

> Efficiency

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Success is measured by

results, not “busy-ness.”

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Questions?

Please direct either towards a specific panelist or in general for any to answer

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THANK YOU FOR ATTENDING TODAY

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