Are Low-Cost Security Guards an Asset or a Liability?

When you hire security, it can be tempting to cut corners if it will cut costs. After all, isn’t the mere presence of a uniformed security card enough to deter wrongdoers? Maybe — if you’re looking to keep preteens from swiping candy from a convenience store. But that’s not the reality for most of today’s businesses. It’s possible to save money on security, but you must be sure you aren’t making trade offs your business can’t afford.

If you choose a security company with lower than average rates, you must question where they cut those costs. Are their background checks less stringent than most? Do they hire individuals that another organization might pass on? Do they provide inadequate training or inferior equipment?

Low Cost Can Mean Low Quality

Individuals who choose to become security guards are unlikely to be entirely motivated by money. After all, no one gets rich being a security officer. But, the reality is that the value of work is at least partially evaluated by how well you are paid for performing it. A fairly paid guard will take pride in their work and are likely to be high performers. Underpaid guards can be resentful and feel unappreciated. It’s in your best interest to hire individuals who are paid a fair rate. A competitive rate of pay can attract a higher caliber of candidates.

Low Cost Can Increase Your Risk

Bargain security can be worse than no security at all. If you are going to make an effort to protect your assets, why choose an option that offers inferior protection? People who live or work on your property have a reasonable expectation that appropriate safety will be provided.  If an incident occurs that could have been avoided with better security, you could face legal liability. You could be sued by those impacted because of inferior protection.  You can even lose your business because of losses incurred in judgments or damage to your reputation.

Is Security Really an Expense?

When you perform a cost-benefit analysis, the advantages can outweigh the cost outlay of a solid security plan. Your assets are protected, preventing loss and insurance rate increases. You can charge higher rental rates and keep vacancies down with evidence of an effective security program. Consider this benefit when evaluating how much you can afford to invest in security guards and alternatives.

What are the alternatives if your business is at risk, but your budget for security is tight?

Consider a Blend of On-Site Guards and Remote Monitoring

Remote video monitoring is a cost-effective way to keep your people and property safe. Place on-site guards only where in-person interaction is critical. In lower risk or remote areas, add cameras that can be monitored from a central location.  This offers a high level of security for a much lower cost. Affordable options such as BOS Security’s VirtuGuard™ remote video monitoring service.

 

Need to learn more about cost-effective security options?

Trust the experts at BOS Security. We help keep commercial and residential buildings secure 24/7/365. If you would like more information on balancing security and profitability, contact us at 404-793-6965.

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