Loss Prevention: How to Keep Your Business’ Physical Assets Protected

January 11th, 2019 | by Anica O
Loss Prevention: How to Keep Your Business’ Physical Assets Protected
Business
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Most businesses require a number of physical assets to operate. These can include machines, technology or even inventory, but in many cases will also include buildings or offices. All of these assets can represent a significant loss to the business if anything happens to them. Theft and vandalism are only two of the potential threats to your business. Here are 4 ways to keep your physical assets protected.

Assess Your Biggest Risks

If valuable heavy equipment or machinery is critical to your business, you might want to invest in protecting that. If your inventory consists of high-dollar goods, you might want to invest the most in protecting that. You also have to assess where the biggest threat to your business is: from inside or outside. As hard as it may be to face or admit, your business may be at greater risk from your own employees as from thieves or vandals.

Screen and Hire Carefully

If you aren’t careful about who you hire, your own employees can become your biggest security risk. It’s not enough to just simply run a criminal background check to see if they’ve ever been caught before. You need to also check references carefully and make sure they are on the up and up.

Good Inventory Management

If your business relies on any kind of inventory, it’s important to keep track of it and manage it well. When inventory accounting only happens once a year, things can go missing for months without anyone being the wiser. You don’t want to make it to the end of the year only to discover that half your inventory went missing without having any idea where it went.

Security

From motion activated cameras to an alarm system to security lights, the best way to protect your physical premises and property is with a good security system. However, just having a security system in place is not enough if no one is watching. The best way to keep your business and physical assets safe and secure is to hire a good security service to watch it for you, so you can spend your nights and evenings resting peacefully.

We often think of a business as being something you own, but the truth is, the only thing you actually own are the physical assets that allow the business to operate. The business itself is actually a collective of people working together to achieve a common goal. Protecting your assets doesn’t just protect you, it also protects the livelihood of all of your employees as well.