Balancing Profitability and Employee Safety in Challenging Times

Strategies for Ensuring Cost-Effective Security Without Compromising Employee Well-being

The prevailing economic conditions have precipitated a seismic shift in the retail sector. Escalating hostility towards employees, constrained financial resources, and overburdened staff are exacerbating the challenges retailers face.

According to the British Retail Consortium’s most recent Crime Survey, the retail industry witnessed a staggering 850 incidents of violence or abuse per day in 2022, a sharp increase from approximately 450 daily incidents the previous year. Concurrently, the Association of Convenience Stores’ latest crime report reveals that over 1.1 million thefts occurred in convenience stores last year alone.

In this high-pressure environment, where cost-cutting is imperative, employees are often tasked with additional responsibilities, compromising their safety. One frequently neglected aspect is the requirement for retail staff to attend to out-of-hours alarm calls, an onerous responsibility that poses significant risks to already overstretched employees.

Tim Moore, our Global Director of Risk Management, articulates the current dilemma for retailers succinctly: “There has always been the challenge to strike a harmonious balance between safeguarding employees and maintaining profitability—a concern that resonates with both employers and staff.”

Despite feeling increasingly vulnerable, retail employees are becoming more cognisant of their rights and the necessity for enhanced workplace protection. This awareness is further highlighted by the recent collaboration between the Retail Trust and Foot Anstey to launch an anti-harassment certification, emphasising its significance to the workforce.

The concern isn’t limited to employees alone. When consulting with Loss Prevention professionals a common goal united the experts in their feedback: they had a continuing quest for cost-effective, out-of-hours security measures to ensure employee safety, which they passionately wanted as a solution

Opting for a well-regarded and accredited security service not only ensures that you reap the benefits of outsourcing but also provides the invaluable peace of mind that comes with knowing your business and its employees are secure. After all, can one truly quantify the value of employee safety?

It’s imperative to remember that the focus should not solely be on allocating substantial funds for security measures, but rather on aligning employee safety with effective and appropriate solutions.

Outsourcing out-of-hours alarm response is not only cost-effective but also demonstrates a proactive commitment to the safety of your retail staff. This approach liberates you to concentrate on enhancing profitability and expanding your business.

For more information on effective services that can transform your strategy for managing out-of-hours risks, please contact us.

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