The thought may appear weird, but the need for security is common for all businesses, even if it is a Security Company.
The thought may appear weird, but the need for security is common for all businesses, even if it is a Security Company.
If a security guard is protecting your premises, you must feel secured to be under the watch of a dedicated professional. But, what about the security guards themselves or the security guard company itself? Are they protected all the time or do they also take extra measures to ensure the safety of their assets, data, and employees? As per the statistics, security guards are exposed to higher risk and the fatality rate for security guards is twice the rate for workers from other industries.
Some common threats that a security guard company may face include damage to the official property, security guards being injured at the client’s site, data breach or data theft, damage at the client site causing losses, frauds in the accounts department, expired licenses, poor compliance and more. However, thanks to the advanced knowledge of Security Management and access to the Security Management System that professional security guard companies have, all these threats can be tamed easily. The Security Industry Specialists state that efficient Security Management and preparedness can help almost any business to safeguard its assets.
If you are in a Security Management Business, wondering why and how to secure your business, this blog has much to offer. We have identified the key risk factors for security guard service companies as well as the best practices to ensure protection against them.
Security Management outlines several important aspects that make a Security Guard Business vulnerable. From security guards being sued for using excessive force to improper cybersecurity that leaves confidential client data exposed, there are hundreds of ways why security businesses may be more insecure than the clients they safeguard. Let us discuss the key protective measures a security guard company must take to strengthen its Security Management practices.
1. Buy an Insuranc:
Just like permits and licenses, buying an appropriate insurance policy is one of the critical requirements to ensure the legality of security guard companies. Your security guards must be efficiently protected with the right insurance. The two types of insurance that you must mandatorily have as a legitimate Security Guard Business includes:
If any of these risks result in an injury at the workplace, the Security Management Services provider is liable to take care of the injured security guard and its medical expenses.
Workers Compensation Policy covers such medical expenses. This in turn helps security companies in offering:
2. Invest in Technology
Just like any other business, Security Guard Business too needs to equip itself with various technologies. The use of a smartphone feature-rich app can help security guard Companies to make their security guard more prepared for their job. Besides, it boosts command, control, and reporting capabilities. From cyber threats to misallocation of resources and cost-effectiveness, a lot of critical security business issues can be sorted with the help of technology. How? Here are the details:
3. Physical Securit
Security guard companies, like many other businesses, have their assets. This includes employees, property, equipment, and more. Safeguarding these assets is the responsibility of the security company owner. Security guard companies need security guards protecting their office premises and all the tangible and intangible assets in the premises. Security Guard Management plays a crucial role. A great way to utilize the resources here is using backup security guards as dedicated security guards at the company’s site.
4. Legal Department
You may need a professional to represent your legal matters. Trust us, when you are a security guard company dedicated to law enforcement, you are exposed to a range of legal complications. Common civil lawsuits that can be filed on a Security Management Services providers include:
You can have a dedicated lawyer in your team or partner with a law firm to offer you professional legal advice. An experienced lawyer has a great understanding of the standards in the security industry and can help you draft legislation related to the industry.
Dedicated legal advice can help you with:
5. Accounting Department
Accounting needs are common to all businesses and hence a security guard company needs a dedicated accountant. Stats suggest that the average payroll and labor costs at a security guard company can be as much as 40% of the sales. The numbers matter a lot for your business if you are considering being a profitable Security Management Business. This is where effective accounting comes into action.
A dedicated accountant can handle your bookkeeping requirements, Tax preparation and planning, Payroll and HR services, and more. When you have your financial data safe and in the hands of an expert, you can feel secured internally and offer more efficient services.
Conclusion: A Security Management Plan for security guard companies must address all these security risks and elements that help them stay protected. Even the top-rated Security Guard Business needs to protect itself to offer reliable services to its clients. We hope this blog helps you understand the need for security. A Security Guard Business must address all the possible measures that can prove helpful in safeguarding your integrity.