To say that things are hard out there for a business is something of an understatement. Even if you pour your heart and soul into a business, you could still run into a variety of obstacles like an inability to properly communicate with your target audience, increased market competition, a retraction of the market as a whole and so much more. All of this is separate from one of the most pressing issues that businesses of all types face on a daily basis, which is theft. You may think your business is secure… but a closer look at the situation might reveal you shouldn’t be nearly as confident as you are.
Businesses and Theft: By the Numbers
According to information released by the FBI’s Uniform Crime Reporting Program, there were roughly 354,000 robberies nationwide in 2012. This represented a staggering 20.1% increase from the same numbers that were generated in 2008.
In addition to the fact that robberies of all kinds accounted for an estimated loss of about $414 million, the average dollar value of items stolen during a robbery was about $1,167. Banks and other financial institutions, in particular, are experiencing a very serious problem in this regard, where the highest average dollar loss was about $3,810 per incident.
Another very serious issue that many businesses face (that far too many people don’t pay enough attention to) has to do with internal theft – meaning employees that steal from the people they work for. According to one recent study:
- Internal theft amounts to a $50 billion loss to US businesses each year.
- Most businesses lose about 7% of their annual revenue to internal theft alone.
- 37.5% of employees admitted to having stolen from their employer TWICE at some point during their employment.
- Employee theft is the leading cause of inventory shrinkage at 42.7%. It beat out vendor fraud, administrative issues and even shoplifting by significant margins.
The Benefits of a Security System
The most important benefit of all when it comes to security systems has to do with deterrence. A visible, high-quality security system in a retail environment, for just one example, serves two distinct purposes:
- Not only does it help provide you with a superior level of visibility into all areas of your business, but it also helps remind everyone – from employees to customers – that they’re being watched.
- It also serves as a reminder that their actions have consequences. It tells the people who want to do you harm that they’ll likely need to go elsewhere and it helps honest people stay that way at the same time.
One of the best ways to make sure that you don’t wind up becoming a part of these statistics yourself is through a high-quality security system. Security systems are always present – they’re the loss prevention team that you never have to pay, that never takes any breaks and that never look away at the worst possible moment. They show that you take security very seriously and in the event that something does happen, they give you recorded evidence of the crime as it occurred. They’re also incredibly effective – according to another study, properties of all types that do NOT have security systems in place are 2.7 times more likely to be robbed than those that do.
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