Even though the American economy is slow to rebound, some products have seen sharp price increases in the past year. In particular, commodity prices have skyrocketed, leaving restaurants, including those at private clubs, struggling to keep up. Consumers have seen higher prices at grocery stores
Tough economic times can bring out the best and the worst in people. While everyone would like to believe that all employees act ethically and responsibly all of the time, fraud does happen. Clubs should take a closer look at their fraud insurance and take
As your club is considering its benefits package and health insurance offerings, there are a few things that you might want to keep in mind. Though the cost of health insurance has been steadily rising over the past several years, this year saw a drastic
Many clubs permit tipping for servers providing food and beverage service. In the “restaurant” world, an employer must maintain some method of tip reporting. This means that the entity must have a system to capture the tips received by a server in cash or by
One area in which the recession has had a significant impact is the state trust funds for unemployment insurance. As of January 14, 2011, 30 states have depleted their UI trust funds and collectively have borrowed more than $40 billion from the federal UI trust
Clubs strive to be the best that they can be in providing services to their members. In this pursuit of perfection, club leadership is generally interested in not only what other well-run clubs do, but also in what would be described as “best practices.” Best
Fi•du•ci•ar•y (noun): a trustee or a manager entrusted to control property or to act on behalf of and for the benefit of another. Surprise and concern are two emotions we often encounter when club managers and directors learn from us they may be considered fiduciaries
Are you PCI compliant? If you take credit card payments, you’d better be. The Payment Card Industry Data Security Standard (PCI DSS) was designed to ensure that any organization that processes, stores, or transmits credit card information does so in a secure environment. In basic terms,
Economic pressures, job losses and cutback hours have all added to the financial pressure our club employees are facing. And when this pressure is combined with opportunity and rationalization, the “Magic Triangle of Fraud” is created. What can clubs do to prevent the Magic Triangle
Consider these findings from the Association of Certified Fraud Examiners’ 2008 Report to the Nation on Occupational Fraud and Abuse: Small businesses (defined as those with fewer than 100 employees) suffered both a greater percentage of frauds and a higher median loss ($200,000) than their larger