The need to secure their companies has prompted many business owners and boards of owners to ponder on the cost of corporate security. Any company that wants to thrive has to make some investments into its security.
However, knowing just how much to allocate as the budget for corporate security is another matter entirely. For many companies, trying to decide how much to spend on security has prompted the big question; what is the cost of corporate security?
Corporate security is the term used to describe the practice of protecting one’s business or company from any and every possible action that can threaten the survival and progress of that company. Corporate security involves putting a virtual and sometimes physical security ring around company employees, company property, and even information systems. This task is usually carried out by professionals who are proficient in that regard.
This is where corporate security firms come in. Corporate security workers are highly skilled and trained individuals. These individuals can quickly identify and efficiently manage any threat or security issue that may affect the company to which they are attached. Also, corporate security is responsible for oversight duties that involve the coordination of all departments within the company that may be involved in the safety, security, and longevity of the company.
It is no news that there is an increasing frequency of cyber-attacks, intellectual property theft, and other security risks in Toronto and the world at large today. Due to this fact, corporate security is a must-have for any company or business that intends to survive. On the digital end of the risk spectrum, there is cyber hacking and data breach, while on the physical end, burglary, vandalism, and even employee theft are credible threats.
All these are security loopholes that can be dangerous to the survival of any company. However, there is a simple solution that will drastically reduce if not completely curb such security breaches. Hire a corporate security firm!
Related article: What does corporate security mean?
Benefits of Hiring Corporate Security
There are a host of advantages that come with hiring a security company for your business. We will highlight some of these benefits for you.
It will increase your customer’s trust in you
When a customer knows that he is safe in your office building and that his or her data is well protected due to an effective security policy, it is more likely that that customer will want to keep his business with you.
It will lead to better company productivity
With the installation of surveillance cameras in the company, employees will be more inclined to work effectively and productively because they know that they can be monitored through the CCTV cameras.
Lives and property are secure
An on-site security team will deter potential burglars who may want to break in and rob. Also, physical attacks on employees by emotional customers will be avoided. Cyber attacks and data loss will also be reduced
It means an extra set of hands, eyes, and ears
Even more than the employees in your company, corporate security will also be responsible and involved in the welfare of your company. This means when the need arises, there is always a free helping hand or ear as the case may be.
It will give your company’s reputation a boost
Adequate and efficient security systems will provide customers, investors, and even employees with an assurance that they are in the right place. This will build a good image for your company that money cannot buy.
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Cost of Corporate Security
Due to the various types of companies, their sizes, and other such differences, it is difficult to say precisely what it will cost you to hire corporate security. However, we can give you a range of what the price of corporate security in Toronto is. The cost also depends on variables such as the job description for the security company and the knowledge or training required to carry out the duties efficiently with the least possible supervision.
Corporate security involves quite a lot of personnel. From the security guard at the gate to officer behind the CCTV cameras to the computer guru that keeps the company from being hacked. Each of these various corporate security workers contributes to the eventual cost of corporate security.
We will now give you a breakdown of the price of corporate security in Toronto today. For an unarmed security guard, you can expect to pay between $20 and 30$ per hour. However, for security guards that are licensed to carry concealed and have extensive training, you can pay as high as $100 per hour.
On the other hand, for corporate security staff with specialized skills such as computer experts, alarm and security system specialists, the bill may be way higher. A range is anywhere between $200 and $1000 per hour, depending on the amount of security work to be done.
Per year, your company should be ready to spend at least $20,000 on corporate security. Maybe more, the upper range is limitless. It all depends on how much a priority the security and safety of your employees’ lives, company property, and company information is to you. All in all, corporate security may come at a rather high cost, but it is a worthwhile investment in the long run.
Factors that Can Affect the Cost of Corporate Security
Even if Toronto, the cost of corporate security is rarely the same for any two companies. Many reasons are responsible for the variation in the price of corporate security.
Scale of company
Depending on the size of your business, the price of corporate security may reduce or skyrocket. The cost of corporate security for smaller businesses will be less when compared to that of large corporations. Larger companies will require more personnel and will subsequently have to pay more to a corporate security firm.
Working Hours
Since most corporate security firms charge by the hour, the longer you want the security personnel working, the more the bills rack up. However, a compromise can be reached, especially if your company wants around-the-clock service.
Risk Involved
In the security business, the higher the risk involved in the line of duty, the higher the compensation demanded. If your company is in an area where there are general unrest and conflict, then you may find yourself with a higher bill from your corporate security firm.
Training Required
For more technical duties in the execution of corporate security that involves extensive knowledge and specific skill set, the cost may be higher. Computer programmers and information analysts will come at a higher price than regular security guards.
Company Location
Finally, the region of Toronto in which your company is located will also influence the cost of corporate security in that area. Some parts have a more expensive cost of living and services. This will affect the price of corporate security that you will have to pay.
Related article: How much does commercial building security cost in Toronto?
Final Take
The cost of corporate security is no child’s play. Admittedly, it is rather expensive. However, security is the backbone of any company that intends to stay in business for the long run. So it is an expense that cannot be avoided.
Although the size of various company budgets for corporate security differ, do not compromise on excellent corporate security service because of cost. If you are wondering where to hire professional corporate security services in Toronto, please contact us. We’ve got you covered!
