Security Cost

The average cost of security depends on the selected service requirements and the category of officer or agent added.

Security Cost

The average cost of security depends on the selected service requirements and the category of officer or agent added.

HOW MUCH DOES SECURITY COST?

The average cost of security depends on the selected service requirements and the category of officer or agent added to special skill sets that would be needed to fulfill the obligation of the service requested inclusive of tools and personal protective gear e.g. patrolling, detecting, and fighting off an intruder, alerting armed response, canine handlers, VIP protection agent, etc.

To more accurately estimate your costs, you’ll need to consider the level of service you expect, the hours of work, the no. of officers, and the frequency added with any special requirements in the context of the officer’s Kit, Special tools, and equipment with any insurance coverage to mitigate risks.

The general formula for TCoS (short for Total Cost of Security) is summarized by the following equation:

Total Cost of Security

TCoS starts with expected spending on security and security-related costs (losses, etc.) that are reflected in an organization’s budget. Then add the cost of insurance premiums to cover losses with low probability-high impact losses, but below the level of catastrophe. Finally, the cost of business continuity allocated to information security is added. Once these three components are added, the result is a TCoS in current dollars for the next time.

One of the biggest factors to consider is the risks associated with the job as well as the risks security officers are facing.

1. What would be your rates of theft and violent crime?
2. Have surrounding businesses experienced recent break-ins?
3. Is the establishment a target for criminal elements?
4. What are the crime statistics indicators? In general, on-site security will be more expensive in municipal areas than in rural, and prices will rise as crime rates do.

It is a well-known fact that crime rates and their impact is higher for urban areas, with the following three explanations for this:

1. The degree of urbanization and populated density,
2. The greater rate of migration and population growth in urban areas, and
3. The differences in demographic structures between urban and rural areas.

The reality is that cities have greater access to wealth, greater anonymity, and a larger population density, which reduces the likelihood of arrest and the ability to attract crime-prone individuals.

The Anatomy of Security Cost

What Factors to Consider When Establishing Your Security Program Cost

What Goes into a Bill Rate?

The Impact of Turnover on Security Cost

Payroll, taxes, and benefits

Taxes
Insurance/liability
Leave Benefits
Medical benefits
Life insurance
Overtime
Subsistence
Drug testing
Background Screening
Skill assessment testing
Medical Exam

Uniforms

Special Equipment Cost

Office Area

Special Equipment Cost

Training costs

Training time
Trainer’s time/salary
Training material and learning management systems
New hire and refresher training

Indirect costs

These are ongoing expenses that may be more difficult to quantify but are part of the value of the overall cost

Rostering
Transportation
Develop training materials
Quality assurance process
Compliance management
Administration
Emergency response resources
Develop standing orders
Outline code of conduct programs
Recognition programs
Employee development
Create job specifications
Procurement of uniforms and equipment

The impact of Turnover on Security Cost

The turnover of staff in security can impact the cost, Every time a security guard firm loses an employee, for example, taxes and workers' compensation are impacted. The cost to recruit, hire, and train any replacements must also be considered as well as the uniform and equipment and replacement costs that arise due to an employee’s departure. These costs can also influence the rise of non-billable hours – costs that ultimately weigh on margins and impact bill rates.

The turnover of staff in security can impact the cost, Every time a security guard firm loses an employee, for example, taxes and workers’ compensation are impacted. The cost to recruit, hire, and train any replacements must also be considered as well as the uniform and equipment and replacement costs that arise due to an employee’s departure. These costs can also influence the rise of non-billable hours – costs that ultimately weigh on margins and impact bill rates.

What is a Security Officer?

Security officers are responsible for protecting life or property by patrolling and apprehending suspicious or unlawful individuals. Security offers reassurance to the public as well as prevents theft or criminal activity. Security officers are required to have an extensive working knowledge of firearms and self-defense to protect the properties, the individuals, and themselves during an incident.

Here are just a few of the services a security provider can offer:

Theft prevention (from both shoplifters and employees) in your business
Crowd control for large events such as concerts
A physical presence to deter crime at social or business gatherings
Ongoing security presence
Evening escort for guests or employees
Adherence to venue regulations
Personal protection in times of business or personal need
Executive protection for a company
Mobile patrols with rapid response
Receptionist or concierge service
Audit checks

Factors that Affect the Cost When Hiring a Security officer

When to consider Armed vs an Unarmed Security Officer. Below is a simple breakdown:

The type of security you hire will affect the level of professionalism you need, therefore the cost too. Experience includes both the length of time on the job and the type of experience.

Type of Security

Unarmed Security

Unarmed security officers are responsible for guarding industrial or commercial property against fire, theft, vandalism and illegal entry, and other acts that violate security and jeopardize the protection of life and limb by performing the following:

Preventing illegal or inappropriate actions by maintaining a high visibility presence
Performing access control procedures on vehicles, personnel, and visitors
Patrolling the buildings, facilities, and perimeters of the premises.
Informing personnel and visitors of security procedures, as well as acting upon non-compliance
Monitoring alarms systems and video surveillance systems

Armed Security

Armed security officers protect clients, and property from harassment, physical attack, vandalism, and other forms of abusive or unauthorized treatment. Carries a weapon for de-escalation and defensive purposes. Utilizes the weapon in times of extreme attack, when non-violent options have been exhausted.

Canine Security

Canine security officers handle and use the skills of dogs to assist in the execution of their duties such as patrolling location property and grounds with canines on a leash. You need to say why a canine vs something else.

Bodyguard

A bodyguard provides personal protection to clients from threats such as assault, kidnapping, and stalking by assessing threats, planning routes, and searching cars and buildings. Duties include but are not limited to:

Undertaking protection monitoring activities to closely protect individuals, personal property, location, and/or estate of a client from any potential risks.
Executing high-risk operations such as hostage situations, alarm response, undercover investigations, neighborhood watch, etc.
Serving as a support to patrol, investigations, and intelligence by assisting with surveillance, fugitive apprehension, negotiator response, and special weapons and tactics response.

Mobile Patrol Security

Mobile patrol security guards secure premises and personnel by patrolling property; monitoring surveillance equipment; and inspecting edifices, equipment, and access points; permitting or refusing entry. A Typical Shift for Mobile Security Includes:

Patrols properties strategically and “randomly”, usually after hours when properties are unoccupied
Scheduled lock-ups and unlocks where clients are not available to do so
Responds to alarms if a client intrusion system is activated
Removes unauthorized persons of interests from private property
Supports static coverage Officers in the event of emergencies
Performs on-the-scene investigations

If anything appears out of the ordinary, Mobile Security Officers will promptly deal with situations. They do this based on incident escalation protocols and pre-agreed upon instructions.

Mobile Security Officers also answer alarms and dispatches from several alarm monitoring stations. These alarms include burglar alarms, fire alarms, and anything that requires after-hour access to buildings. They also walk through client spaces to see if there are:

Damage or hazards to the property
Suspicious activity
Unlocked doors that should be locked
Unauthorized person(s) on the premises

Compliance Supervisor

Visit contract locations and conduct performance audits to ensure compliance with policy and agreed operational standards. Duties include but are not limited to:

Completing effective health & safety assessments, risk assessments, and site evaluations
Managing team resources to ensure adequate staffing for our customer
Inducting new personnel ensuring they are aware of site security procedures
Seeking ways of enhancing service offering by making frequent improvement suggestions, and encouraging the security team to do likewise
Supporting and developing team members in the performance of their duties, managing poor performance as required

Security/Site Supervisor

Security Supervisor ensures the professional operation, administration, and performance of a variety of security services for a customer’s site. The Supervisor will oversee facility security to protect all company assets. The Security Supervisor may also manage and/or implement security protocols related to the storage of confidential information and documents.

THE TYPES OF ACTIVITIES a SECURITY SUPERVISOR PERFORMS INCLUDE:

Supervising a team of security officers ensuring the best possible service delivery
Inducting new personnel ensuring they are aware of site security procedures
Ensuring quality of service, contract compliance, and that operational KPIs are met
Leading the team in incident management and conflict resolution
Provides and/or implements security and security protocols for all assigned facilities.
Taking proactive steps to provide a safe and secure working environment to staff and visitors.
Providing specialized security for and monitors access to limited and restricted access areas such as inventory areas, network equipment areas, and employee files and confidential records.
Conduct regular walk-throughs and security inspections for assigned facilities.

Locations

The first step in protecting your assets is to conduct a risk assessment of your location. It is important to remember that security is a dynamic discipline, therefore requiring periodic reviews to enable adjustments to the ambient and dynamic threat environment. Less populated areas experience more competitiveness due to the lack of requirements for protection.

Each industry must establish and define its reasonable standard of care obligations, given the ambient threat environment. Refer to the following figures representing the crime index by Country, and criminality score by country.

Security professionals often apply these tools, to quantify the level and probability of various categories of threats coming into fruition. Thus, the efficacy and the design of your security program require an understanding of and realities of the ambient threat environment. This uniqueness is driven by cultural diversity, sociological diversity, and a unique crime pattern diversity. In other words, the threat matrix for every hospital, every shopping mall, and every residential area are unique. These preconditions must be reflected within the design and structure of each security strategy. The first step is to determine the security history of your facility. This entails gaining an understanding of where the security program has been, where it is now, and where it needs to go moving forward.

Our professionals employ the four main principles of CPTED – natural surveillance, access control, territorial reinforcement, and space management to design systems that contribute to perceptions of increased public safety.

Crime Index by Country