Cargo theft accounts for as much as $30 billion per year in inventory loss, and this figure also includes warehouse and distribution theft. The chances of experiencing inventory loss are real.
To prevent lost product, many businesses use armed security to help secure their warehouse. And the results speak for themselves. Armed guards deter theft. But that’s not their only job.
Armed guards also help employees feel safe in the workplace, as well as protecting your company from litigation should disaster ever occur. So today, we’re helping you decide if armed security is right for your warehouse or distribution center.
Risk Tolerance
Deciding whether armed security is right for your company depends on something called “risk tolerance.” It’s a term that measures risk versus investment. In financial systems, risk tolerance measures your investment versus the assumed risk of making that investment.
So risk investment is the level of risk someone assumes.
Armed security for your business works the same way. Risk tolerance measures two different metrics. First, the risk assumed by not hiring security versus the money saved.
Next, it measures the risk assumed by not hiring security versus the potential prevented inventory loss.
Let’s take a look at the components of both types of risk tolerance.
Product Value
The more valuable your products, the greater the risk of leaving them unprotected. We can think of it in simpler terms. Your watch is more valuable than your socks.
Though determining product value isn’t always straightforward. Some inventory can appreciate over time while some depreciate. Armed security provides a better return on investment for products that appreciate.
Take inventory of your entire warehouse and determine your current product value and also your long-term product value. Then compare that value with the cost of hiring armed security.
Security makes the most sense if your products hold more value than the cost of protecting them. And they will in most circumstances.
Employee Safety and Liability
Unfortunately, stories about workplace violence seem to fill the news cycle. People want to feel safe at their jobs and armed security is an excellent way to offer that feeling.
Plus, if the worst should happen you’ll have protection from lawsuits. Armed security shows that you’re actively protecting your employees from harm.
While most people think “it won’t happen to me,” that doesn’t mean you shouldn’t take precautions. After all, we wear seatbelts even though you don’t often get into car accidents.
And if you’re not comfortable with armed security, you can also hire on a need be basis. If your threat level rises (disgruntled employee making threats) it’s easy to quickly hire from the best-armed security companies.
Additional Liabilities
In addition to protecting from employees lawsuits, armed security is a must if you’re storing or distributing hazardous materials. Anything that could cause harm to the public if it fell into the wrong hands.
Stolen guns, chemicals, ammunition etc. can lead to class action lawsuits should someone use them to harm the public. Armed security shows the courts that you’re doing your part to protect your dangerous inventory.
Don’t Go Overboard
Your inventory is important. We understand that; it’s why you’re reading an article on armed security. However, unless you’re protecting gold (and you probably aren’t) you don’t need an armada.
Remember that your business isn’t Fort Knox. In most situations, minimal armed security works just as well as arming your entire staff. When one person has a gun, every person could have a gun.
Hiring just enough security also helps save money. Talk with the experts to help find the perfect amount of armed guards for your unique needs.
Hiring New Employees
As we touched on above, employees appreciate security in the workplace. And this goes not only for the employees that work for you, but also your future hires. Armed guards provide security that helps attract new workers.
In the internet age, people review businesses and prospective employees know all about your company before applying. Drawing the very best talent means keeping current employees feeling safe and secure.
Choosing the Right Armed Security Provider
Armed security companies aren’t created equal. Providers vary in price, ability, communication, certification, and more. You need to shop around to find not only the right provider but a good provider at all.
Certification
Providers need certain certifications that vary based on both state and local laws. Any company that isn’t certified isn’t worth working with, and often times isn’t following the law. Always ask to see a certification before beginning any type of negotiation process.
Training
After confirming their certification, ask about the provider’s training process. Training can vary from comprehensive to minimal. The less training, the more danger the armed security poses.
Imagine a situation where armed security needs to use their weapon. Will they make sure no one’s in the line of fire? Have they tried deescalation first?
Scale
Your chosen security provider needs to scale along with your business. Can they provide enough security for your warehouse? And what if you grow? Can they also keep up with your expansion?
Hire a company that’s larger than your current needs. It’s better to hire a large company than one who can’t provide more security if needed.
Price and More
Price is the final negotiating point. You need a company that’s within your budget and that can scale with your business. Though do remember that price often varies by quality. Experienced companies tend to charge more than those just starting.
So if you’re in the market for an armed security company that’s certified, highly trained, can scale, and is affordable, get in contact with us.
Our experts would love to help get you on the fast track to protecting your investment, your employees, and yourself.