Many businesses struggle with the decision of either hiring a full-time security staff or outsourcing to a security service. And, that’s not the only cost related to security—there are some estimates that theft (both employee fraud and external) is costing businesses between $20-50 billion each year, or an average of 5% of revenues for all U.S. businesses.
In this blog, we detail the 5 reasons why it makes sense to hire a security service for your business to help reduce costs.
Security Services Require No Overhead
It’s estimated that only 50-70% of the cost of an employee to a business is their direct salary. Other costs include benefits like health insurance, IT equipment like laptops, office equipment like desks and chairs, and taxes like Medicare, unemployment insurance, and Social Security. Once you add all of those costs up, you can start seeing why a security service, that just charges a flat monthly fee, can make a lot more sense than hiring a security staff.
You Own Your Office Building
If you are renting office space, most of the time your landlord is responsible for security. However, if you are the owner of your office building, you are responsible for all security costs including alarm installation and maintenance, security staff, security systems and cameras, etc. By hiring a security staff, you can cut down considerably on all of these liabilities.
You Are Experiencing Significant Theft Issues
If you are one of the thousands of businesses in the U.S. that experiences significant theft issues, it might make sense to hire a security service that can monitor both internal employee and external threats. While a service will initially cost you money, it can easily offset the revenue depletion that comes with regular theft of inventory and product.
Your Employees Have Expressed Concern About Safety
In the Bay Area’s competitive job market, it’s hard to find good talent, especially if they are concerned about security at work. Make sure to meet regularly with your employees, or ask your human resources staff, to get a sense of how safe they feel at work. If they are worried about being harassed or assaulted, it’s probably time to get a security presence to help patrol your office.
Your Customer Have Expressed Concern About Safety
Just as important as the previous point, if your customers have expressed any concern about safety and being harassed inside or outside of the store, you should seriously consider a security patrol. If your customers are concerned about their safety, it’s probably having an impact on your bottom line—and that’s not good for anyone.
Are you a business that is considering hiring a security patrol? Contact us today to learn how we can help.