Protecting a company's assets isn't cheap, but it's well worth it when you consider the time and money that's wasted when unsavoury individuals get their hands on them.
Because of this, securing your property and the assets it contains is a serious concern, and should be budgeted for accordingly. A whitepaper from the Institute of Finance and Management (IOFM) found that businesses are reacting to this need for security guards by dedicating more money to the cause.
So, how much are they spending?
Physical security budgets focus on people
There are a number of physical security solutions that businesses can dedicate their protection budgets too, but according to the IOFM, personnel is the favourite choice. Of course, there's no reason why these professionals can't be complemented with technological solutions like video alarm systems. After all, why not make the best of both worlds?
The IOFM found that nearly two-thirds of their respondent's security budgets was dedicated to personnel solutions such as guards, indicating that businesses still value having an actual person overseeing their property.
Interestingly, most companies aren't interested in cheaping out either, proving they're aware that security is a concern that needs to be taken seriously. The firm found that the majority of businesses it surveyed correlate cost with quality when choosing security solutions.
The ASIS Physical Security Council broke down the key things business owners need to keep in mind when refreshing their physical security program or creating a new one.
According to the organisation, planning is an important part of this process. Business should be aware of exactly what they need from security staff or systems and what the best way to achieve this is. On top of this, these programmes should be aligned with business objectives, ensuring all procedures within a company remain consistent with each other.