How Video Surveillance Can Save Your Business Money
Besides the obvious effect of preventing burglaries and break-ins, incorporating video surveillance into your security system can have many benefits for your business - though preventing burglaries is enough of a benefit on its own, considering the fact that businesses are more than four times as likely to be burglarized than homes.
Other than crime prevention, video surveillance systems for business can yield a high return on investment in a multitude of ways, five of which we’ll list for you now:
Five Benefits of Video Surveillance Systems for Business
1. Preventing Employee Theft
Though everyone wants to believe that their employees would never steal for them, a recent study has shed light on some truly horrifying facts about employee theft - including the facts that a whopping 75% of employees have stolen from their employers at least once. Remember: employee fraud can take many forms - be it “forgetting” to swipe a transaction or embezzling thousands of dollars.
Video surveillance systems for business can help to prevent employee theft by acting as a deterrent, but are also essential for documenting any incidents that do occur.
2. Possible Reduction in Insurance Costs
Given the fact that cameras deter 61% of criminals, having property safety measures such as video surveillance in place can show insurers that your business will be less of a liability to them. While it is more common for homeowners insurance to offer lower insurance premiums for the presence of security measures, some business insurers will too and decreasing the likelihood of break-ins can’t hurt.
Talk to your business insurer about any discounts that may be available for security improvements made to your business.
3. Workflow Monitoring
Rather than stealing materials, products or money, many employees steal time from their employers. Video surveillance systems can help you to ensure that your employees are actively working and being productive while they’re on the clock, and that any protocols, whether safety or otherwise, are being followed. Giving a second pair of eyes on the floor can also help business owners to figure out if they’re over or understaffed.
According to recent data, employee surveillance can actually boost profits and productivity. With video surveillance, managers are able to spend less time on monitoring and more time being productive.
4. Preventing Frivolous Lawsuits
Though many business owners would prefer to think the best of their employees, it isn’t unheard of for employees to fake workplace injuries to claim from workman’s compensation, or even to file a lawsuit. As more than 94% of businesses carry workers' compensation insurance, this likely applies to your business too, and these types of fraudulent claims can lead to you paying higher premiums.
Not only can visible security cameras deter this kind of behaviour, they also serve as documentation of the incident. This can apply to many other situations, as many small businesses are the target of more than half of all civil lawsuits annually. Video surveillance systems can serve as documentation of any harassment claims, physical fights between employees or as evidence in frivolous professional liability and personal injury lawsuits.
5. Creating a Safer Workplace
As we’ve established, visible security cameras can deter many types of crime - including break-ins and vandalism. A fair number of of fatal workplace injuries in the are a result of workplace violence, and security cameras can discourage these and other types of incidents before they happen. This, in turn, helps to create a safer working environment for employees, especially when cameras are placed at entrances and exits, as well as in parking lots. Though this may not have a direct monetary value, employees who feel safe at work and who feel looked after by their employer are far more likely to go the extra mile.
Video Surveillance Installation
While many business owners may balk at the idea of shelling out for video surveillance systems, the benefits are undeniable. Further than protecting your business from vandalism and theft, they can also improve day-to-day operations and improve productivity and profits. Incorporating video surveillance into your security system can help you to protect, monitor and secure both your employees and your company.
Video surveillance installation should be personalized in a way that will be of the most benefit to your business, including choosing the best type of camera, whether IP or analog, the type of recording software as well as the best camera placement.