Today, more and more businesses are developing the need to implement more robust security systems like video surveillance. Both internal and external security threats – like theft and vandalism – are on the rise. This means businesses are seeing more security risks from both employees and non-employees. Additionally, there are over 25 million commercial security cameras installed worldwide, and experts say over 67% of security incidents could have been eliminated by installing video surveillance.
If you haven’t yet thought about your business’s need for video surveillance, it may be time to look into it. Installing a security camera can prevent and deter incidents. This can save you tons of time and money down the road, as well as assure security to employees and business assets.
Here are the top reasons why millions of businesses are installing security cameras:
1. Deter theft, vandalism, and trespassing
Perhaps the #1 reason that security cameras help businesses is that they reduce the risk of theft, vandalism, break-ins, shoplifting, and other security breaches. Not only are these issues concerning for your employees’ safety, but they also often result in revenue loss. In fact, a recent study showed that small businesses can lose as much as $50,000 annually due to theft and vandalism incidents. Plus, criminals tend to target more vulnerable locations, especially those without security cameras present. This is not something worth risking, especially when your company is trying to grow.
2. Reduce liability in legal disputes
Unfortunately, businesses have to face the possibility of incidents like burglary, assault, and more occurring on their premises. If this were to happen, having video surveillance evidence to offer authorities can make a huge difference in reducing liability to the business. In these cases, you’re much better safe than sorry. Security cameras can offer you reassurance that your business will be covered.
3. Reduce Stress
Many businesses feel more secure and less at-risk when installing security cameras. When you have video surveillance monitoring your premises at all times, you can focus on your work and rest assured that your security needs are taken care of.
4. Protect valuable business assets
Especially if your business has items that require a large capital investment, you are going to want to install security cameras. Expensive or highly valued items are considered “high-risk areas” in terms of security. Instead of having someone monitor these items regularly, the best way to ensure their security is installing 24-hour video surveillance.
5. Ensure customer and guest safety
If you are a business where customers, clients, and guests visit regularly, it is your responsibility to ensure their safety. Without a great security system, visitors to your business may not feel safe against criminal activity. This is a great reason to install security cameras both inside your building and outside. When your visitors return to their cars, they can feel more certain about their safety.
6. Monitor activity to reduce employee theft
Theft – such as data theft and fraud – within the workplace by employees happens a lot more frequently than you may realize. In fact, according to Statistic Brain, 75% of employees have stolen at least once from their employer and 33% of business bankruptcies happen because of employee theft. Small businesses are especially at risk. 80% of internal theft by employees happened in businesses of 100 employees or less, and over half of these had less than 25 employees. Businesses also may have concerns about data fraud and stolen business property by employees. Security cameras can deter employees from engaging in this behavior.
7. Improve employee productivity
When employees know they are not being monitored by supervisors and managers, it’s possible that they are less productive and work less hard. However, when employees are under video surveillance, they will understand that their supervisors can monitor whether or not they are working their hardest. In turn, you’ll see higher productivity in your workforce.
8. Save money on security costs
Without security cameras, many businesses have to hire security personnel to handle their security needs. Many times, businesses have to pay for security to work around the clock – 24 hours per day. On the other hand, when these businesses purchase security cameras, the capital investment pays for itself in no time. Overall, the business will save money moving forward.
9. Increase profits
Not only does installing video surveillance reduce crime and help businesses save money overall on security. It’s also proven to help them increase profits! A Bloomberg study looked at almost 400 businesses with video surveillance. It found that there was a 22% drop in theft, which resulted in a 7% increase in profit.
10. Ensure business compliance
Depending on your business industry, you may have to install security cameras to stay compliant with industry laws and regulations. For instance, some businesses may need video surveillance to comply with HIPAA or SEC laws. Additionally, if your business is part of a larger corporation, there may be corporate policies that your location must upkeep – which may include installing security cameras.
11. Monitor customer purchases
For retail and restaurant businesses, there are times when a customer may want to dispute a transaction or return an item. At the same time, employees need to juggle providing great customer service and assure they are defending the business. If an employee has no evidence of the transaction, it can be hard to give that customer a refund for their purchase. However, with security cameras, managers will have oversight over what really happened during the transaction, so they can handle the refund appropriately.
12. Resolve business disputes
Many businesses have to deal with disputes between employees. In these cases, managers and HR usually have to step in to resolve the issue. However, when these mediators do not have access to real evidence, they may resolve the issue in a biased way. When your business has access to video surveillance, you can be sure business disputes that happen in the workplace will be resolved more efficiently and fairly.
When considering video surveillance, you will also want to complete your business security system by looking into physically securing your business doors and entryways. Read about the benefits of access control systems for business security, and prepare to install your security system with our access control checklist.