If the very idea of internal audits emanates a shudder down your spine – you don’t know the power of a good internal audit. Don’t stress – internal audits are here to make your life (and business) better. With the right employees and the right training, you can set your business on the path to growth and success.
We’ve got three huge benefits of internal audits, so read on and get your team ready!
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#1. Safe and skilled employees are happy employees
Internal audits have many benefits for your business, the primary benefit being safety. Internal audits identify gaps in safety procedures and help management improve safety procedures to close the gaps.
Employees will be much safer as a result of these internal audits – simply due to the improvement in safety procedures and training.
You will also reduce your staff turnover.
How?
Staff who are educated, upskilled and safe in the workplace are happier than those who aren’t.
It’s a serious benefit.
Happy staff don’t leave jobs. You are safeguarding your business from employee turnover, and the painful process of re-hiring.
Safety auditing in businesses may seem boring, but to your team, the additional safety training proves they are valuable to the business and will relish the opportunity to make the most of their knowledge.
#2. Staff trained in internal safety auditing save your business money.
Perhaps the most obvious reason you should practice regular internal audits – businesses that are regularly auditing themselves are constantly improving. By casting a critical eye over your existing systems and processes, your business is identifying areas of weakness which require your attention.
By conducting these internal audits, you are safeguarding your business from mediocrity. When a business readily has internal auditors in the workplace they are able to identify areas of improvement and identify any red flags before they develop into potential crises. This can save your business thousands (potentially millions) of dollars in compensation or lost business.
#3. Your business will grow (much faster than your competitors!)
Business growth is an exciting thing.
It means success, new customers, and adding to your team.
It also means extra dollars hitting your bank account (with any luck!)
When your business conducts regular internal audits, your business can identify cost-saving opportunities (check out an example in our other blog post), minimise safety risks, and pinpoint areas for growth.
Conducting these internal audits, and taking actions based on the results can lead to some serious business growth.
Think of your business like a garden – you can’t just ignore it and hope the weeds don’t overtake your roses. You have to prune your hedges, pull out the weeds and fertilise your roses. Without tending to your business, you’re letting inconsistencies fly under the radar, and allowing mistakes to happen without creating a strategy to ensure they don’t occur in the first place.
Internal auditing identifies those things and can help influence positive change in the business.
Has your business conducted an internal audit lately?
If you can’t remember the last time your businesses conducted an internal audit, it’s time to push your sleeves up and book one in.
If you’re not sure how it works – get in touch with our team. Our experienced team of auditors and trainers can help you out.
Our team can help your business with internal audits – just ask us how!
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