“Real knowledge is to know the extent of one’s ignorance.” ~Confucius
It is surprising to see business owners take the “ignorance is bliss” approach to running their operation. In the past few months I have been especially perplexed by a few of them. One business owner knows that a specific employee is stealing from him, but, he would rather not know “just how much” he is getting away with. Other business owners figure the cost of “knowing” (either video surveillance or an investigation etc.) is just too much.
Actually, the cost of not knowing can be detrimental to a company. When there is undesirable behavior taking place in a business such as: employee theft and low employee productivity, not only is the company losing dollars, it is losing something much more valuable: THE GOOD EMPLOYEES. That’s right! The good employees get tired of the others “getting away with it” and they eventually leave. (Just Google the phrase ‘the cost of employee turnover’ and you will be amazed!)
Then there are the “knowledge is power” business owners. We recently installed a video surveillance system for a popular OKC restaurant. The owner was concerned about employee productivity. A few days after the system was up and running, we called to see how things we going. “I am MAD!” She told us. “I found out that my employees were standing around and wasting time (HOURS of time) every day!”
The interesting thing is, she has probably already recouped the cost of the video surveillance system in payroll savings! AND the morale of the good employees will improve now that the “bad apples” are not getting away with laziness.
I will take knowledge over ignorance any day!