There are a lot of factors that can cause financial dilemmas in a company. One of them is known as “retail shrinkage”. Retail shrinkage is the loss of inventory due to wastage, shoplifting, and employee theft. Shrinkage has always been a critical concern for retailers all over the world.
Another crucial problem among businesses worldwide is robbery. There have been a lot of strategic plans made to eliminate this crime but it is very challenging and often takes time to make a real impact on robberies. To avoid being robbed, companies are best outsourcing their banking transactions to cash couriers rather than going to the bank by themselves. Others to hire bodyguards to escort them to and from the bank.
According to OSAC’s 2019 Crime & Safety Report for Turks and Caicos, the vast majority of crime and security threats occur in Providenciales. In a press conference to address crime in the country, Governor Nigel Dakin mentioned that there was a significant increase in firearms offences and that some of these offences are linked to robberies. The local government advises everyone to exercise increased caution.
Robbery and theft can cause major corporations and small businesses to go out of business. Understanding your company’s status, state of shrinkage and the threats that your business faces can help you evaluate better solutions to prevent loss and theft. Hiring the right security company should be your first step in combating crime so that you can maintain a superb service for your customers.
WC Security Services specialises in providing unmatched security solutions to a wide range of clients including commercial, retail, resorts, private villas, and residential groups in the Turks and Caicos Islands. From static guarding to mobile patrolling and response, they provide highly-trained security officers to protect you from retail shrinkage. Read on to know why it’s important to understand the benefits of manned security for your company.
Prevention from Theft and Other Crimes
Robbery is one of the most violent crimes that have left many companies anxious and scared. Robbers mostly attack small and mid-sized businesses like convenience stores, pharmacies, and liquor shops. They carry guns and threaten cashiers as they take money from the cash registers. This can be averted with a security guard on duty who is well-trained in these situations.
Another familiar problem is shoplifting. Shoplifters are rarely caught especially if the premises don’t have enough security devices. Commonly stolen items include cigarettes, pills, infant formula, mobile accessories, and liquors. With enough security guards near the entrance and exit doors and enough security inside, the merchandise can be monitored and shoplifters will be reluctant to steal.
WC Security Services provides uniformed guards who are effective visual deterrents from robbers and shoplifters. They are trained on how to detect these types of crimes and are knowledgeable in handling and escalating them to law enforcement.
It is extremely important to get a security service that can protect your company from random acts of crime. This will encourage more customers, knowing that your store is a safe place to buy from. Manned Guarding also protects your company premises from vandalism, loitering, and breaking and entering.
Increased Visibility and Monitoring
According to Static Brain, a crime contributing to retail shrinking is costing US companies over $50 billion annually. In a Forbes article, the Association of Certified Fraud Examiners estimates that this crime had companies lose 5% of their annual revenue. This crime is known as “employee theft”, and is greatly affecting small organizations especially those who have fewer than 150 employees.
Employee theft includes embezzlement, fraud, larceny, and skimming. But the most common form of employee theft is pilferage, the act of stealing things that are of small value. Pilfering happens when employees have access to the merchandise and steal it on their way out unnoticed. If pilfering is done regularly by an employee, the price of each stolen good, no matter how cheap, will sooner or later sum up to a great value that will contribute to your company’s retail shrinkage. Though companies have invested in theft prevention devices like POS, EAS, RFID systems and have placed anti-theft signages in shops, these things are not enough to prevent crime. It is necessary to have somebody who can check and monitor shoppers and employees directly, which is harder for thieves to circumvent.
WC security officers are trained on how to professionally handle theft and counteract the occurrence of a crime. This way, you can make sure that your company’s merchandise and assets are safe and are paid for by the time they leave your store.
Sense of Security
The absence of manned guarding security will affect a company's working environment. Security provides peace of mind, giving your employees more focus at work. A safe workplace enhances creativity and productivity among employees which could sum up to better output for a better company. A credible security presence reassures visiting guests who vacation and stay at your resort or villa. With exceptional security, your business partners are safe when working with you. If they feel safe, they will acknowledge your capabilities as a business owner and will be happy to do more business with you in the future.
The unparalleled level of trust between you, your employees, and your business partners are essential in the success of every business. To attain this, security and communication must always be a priority within the workspace. Once these factors are developed, the company should be able to thrive financially.
WC Security Services does not only deliver high-quality security solutions, but they also believe in building solid customer relationships. They are committed to consistently fulfil and exceed their clients’ needs and expectations in a spirit of true partnership. Preventing loss and risks while protecting their clients’ reputation holds high in its approach to providing exceptional products and services.
WC Security Services is a supporter of CrimestoppersTC and the UK Security Institute.