With the New Year approaching, now is the time that many companies start to evaluate new projects as well as where capital outlay is needed or desired. Security systems are one of the areas that many companies regard as a “If it’s not broke, don’t fix it” mentality.
However, most business owners aren’t aware of how incremental and continual improvements in your commercial security system usually end up costing less over time, and have a higher employee safety factor. That does not include the rise in efficiency when it comes to your security staff, reduction of time needed for training, and an increase in the overall security of your company and building.
Here are four questions that most businesses won’t even think to ask themselves when evaluating their security needs:
1. How much is a good employee worth to me?
Most employers do not connect their security systems with the worth or productivity of their employees. However, many industrial buildings are in areas that have higher crime threats, or are more of a target to potential criminals. Employees are often more affected by these risks than an employer, simply because they are the ones on the front lines of an attack.
They also have the continual distraction of looking over their shoulder at odd noises, unfamiliar people or potential threats during evening or night shifts, or in industrial or urban areas. It’s not just job safety, it’s personal safety that becomes affected. An employee that needs to be on the lookout for potential threats is more anxious, less productive, and more likely to take personal time, because of the additional strain of monitoring for potential issues.
A strong security system allows an employee to focus more on their work, less on distractions or potential issues. Less anxiety and a higher feeling of safety results in fewer vacation days, fewer employees being late, and fewer sick days. And there’s a good case for lower employee turnover as well. These savings alone will probably cover any additional costs associated with improving your security system.
A prospective employee that sees a strong security system and an employer that is willing to invest in their employees’ safety through security systems is also more likely to accept a desired position .
2. How much money will I save by deterring 1-2 major workman’s compensation suits per year?
While you may do everything possible to maintain employee safety, the truth is that accidents can and will happen, especially in a business with a large amount of physical labor. In this issue, your best offense is a good defense.
In terms of security that means stronger access control monitoring, higher quality cameras with fewer blind spots and better integration of systems. These measures deter a lot of false or questionable cases that eat up valuable time, resources and money. They can also provide valuable evidence in an actual case.
3. How much money will I save on my commercial insurance premiums or deductible with a stronger security system?
When was the last time you looked into updating your business insurance? One of the underwriting aspects of business is the strength and quality of your security system. You can actually reduce your premium or deductible with a better security system. Staying up to date and continuously improving your security system can also reduce claims made to your insurance, keeping premiums low and reducing capital expenditure.
4. How do these savings make my business more profitable?
At the end of the day, while we want to provide the best systems and resources possible to and for ourselves and employees, there’s always a piece of the conversation that has to come back to the bottom line: how does this affect my profit?
None of the measures above improve your incoming revenue. Some people would be quick to write
Which brings me to a favorite phrase about top and bottom line revenue: “Top line is vanity, bottom line is sanity.” It’s not just about bringing revenue in, but keeping more of the money you’re making. This area is where small changes and continual investment in your security system can result in reducing your expenses throughout the year, which overall lead to higher profitability for your company.
Also, if you’re looking to reduce your taxes for the year, a capital expenditure like a security system is an excellent tax deduction. For a free quote or consultation, please contact Quinlan Security Systems at 708-478-0707.