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4 Advantages of Having a Comprehensive Security Plan in Retail Businesses

 

The retail business industry is always a prime target for criminal activity. A study in 2015 suggests that the Australian retail sector loses an estimated A$ 2.7 billion annually to theft, negligence, and fraud. Loss on such a scale is troubling not only because of the sheer amount of lost revenue but also because it persists in a time when modern security personnel and technology supposedly have the capability to prevent or at least reduce the effectiveness of criminal activity. Add the fact that in some cases, criminal activities not only result in damage or loss of income but serious injury or even loss of life and it should be clear that a comprehensive security plan in retail business must be a top priority.

 

Benefits Your Retail Business Can Get out of a Comprehensive Security Plan

 

Identifying Potential Threats to Your Business

A good, comprehensive security plan enables you to identify potential threats to your business, not just from the most obvious sources (like criminals), but also those that can be easily overlooked (like natural calamities or medical emergencies) because they are not necessarily considered “high risk” for your business. Such scenarios must be identified and addressed because not only are they avenues for potential loss but also being caught unprepared by such situations can bring about devastating consequences to your business.

 

Prioritizing and Addressing Potential Threats in the Most Cost-Effective Way

A good, comprehensive security plan will not only enable you to identify potential threats. It will also allow you and your security staff to determine which of the potential threats are biggest (again, not necessarily the most obvious) and how much attention or resources are needed to address each threat effectively. Is your retail business one that sells concealable items with high commercial value? Do you experience a high volume of transactions every day that can lead to losses due to negligence or staff error? Is mobility or shipping a cornerstone of your business? Each of these situations – and many more – requires a different approach and varying amounts of commitment and resources that may not be the same for all retail businesses.

 

Having Security that Grows and Adapts to Your Business

A good, comprehensive security plan is one that is able to adapt and “grow with your business”. As your business expands and reaches more clients, key elements and cornerstones of the security plan usually remain the same, but the way the principles are implemented should be easily modified and tailored to your business’ current needs. While the nitty-gritty details of a security plan are usually very specific, a good backbone can readily accommodate upgrades and upscales without sacrificing overall effectiveness.

Comprehensive security planning is not just about how many guards will be posted at your store’s front door, or how many cameras will be set up to monitor the store. A good, comprehensive security plan ensures that the different components that make up your business’ security system – from the building’s innate architecture, to the skill and attitude of security personnel, to even the training and preparedness of regular store staff to respond in cases of emergencies – are working seamlessly to provide your business the best protection from all possible threats at all times.

 

Increasing Your Revenue

Planning your security thoroughly makes its implementation more effective. The more secure your customers feel, the more trust and confidence they’ll have with your business. This means more repeat customers and even referrals. It creates a good customer experience that they can talk about on social media rather than gaining negative reviews. All these contribute to improving your sales and overall performance.

 

Conclusion

Your approach to your business’s security should go beyond stop-gap measures and short-term fixes. A comprehensive security plan not only ensures the effectiveness of your security interventions but also boosts your business’s performance as a whole.

Are you and your current security provider capable of developing a complete security plan for your retail business? Prosek Security has a deep understanding of the retail industry and its security needs. Contact us and let us help you come up with a plan that not only covers the protection of your assets but also contributes to your overall business goals.