How Poor Security Can Cost Your Business
Poor security practices have hidden costs
With the many expenses that business owners must juggle for day-to-day operations, security often falls by the wayside. Even though it seems like an easy way to save money, the cost of handling a break-in can surpass the money you'd spend on installing and maintaining a security system. Here are some of the hidden costs business owners might face in the aftermath of a burglary or other security incident and how commercial security measures can help prevent them.
Criminal activities
If your business lacks proper security coverage, it becomes an easy target for burglars and thieves. The absence of security cameras, inadequate lighting, or exterior visual obstructions can make it easier for potential burglars to break in. In the event of a break-in, you will have to spend significant money on repairs, replacing inventory, and covering your losses.
Apart from these upfront costs, you will also have to deal with the incident's aftermath. You may need to invest in additional security measures to prevent future incidents. If your employees feel unsafe, you may have to deal with higher turnover rates and the expenses associated with hiring and training new employees.
Without CCTV systems or security cameras, identifying and pursuing criminal charges against the perpetrator can be difficult. Recorded CCTV footage can serve as crucial evidence to present in court and seek monetary compensation. Even businesses with functioning security cameras may face challenges if they do not opt for video alarm verification services since the effects of the crime could have been minimized with a faster emergency response.
Access concerns
As a business owner, it's important to prioritize security beyond just functional locks on doors and windows. A security system can provide an added layer of protection against potential intruders and the associated costs. Relying solely on locks and other basic preventive measures can leave your business vulnerable to break-ins and unauthorized entries due to negligence. However, it's important to note that preventive measures alone cannot guarantee complete protection from theft or other incidents.
To ensure the safety of company assets and building access, business owners must remain vigilant and take further precautions. Educate your employees on how to use the security system and how they can prevent the company from facing additional costs. Consider implementing multiple layers of security and conducting periodic physical security audits to ensure that every component of your business is working towards the common goal of protecting vulnerabilities.
Legal liabilities
As a business owner, it is crucial to ensure the safety of your employees and customers. Neglecting warning signs of inadequate protection in the workplace can put anyone on or near the premises at risk. If an incident is attributable to negligence, you may be held legally responsible by customers, employees, or authorities involved. For instance, fire safety violations can result in citations, fines, and temporary closures until the issue is resolved. By failing to implement preventive measures, you risk facing penalties, legal proceedings, and significant financial losses.
Your goal as a business owner should be to prevent incidents from happening to your business, employees, and customers. Any risks that can lead to legal ramifications should be addressed with great urgency. If an aspect of your landscaping affects your building's visibility and security, you must address it to avoid potential issues and associated costs. Whatever the security vulnerability is, remedy the situation to keep everyone as protected as possible.
Get ahead with FSS Technologies
Revamping a security system or establishing precautions for the first time can be daunting when combined with the usual responsibilities that business owners face. Our team of professionals at FSS Technologies can help you identify common and unique risks to your business, provide recommendations, and help you build a security system that suits your needs. From the start of your first consultation to the completion of your installation and beyond, our team of experts is here to help you protect your business. Contact us today to get started.