Corporate security consists of several components. Each component contains inherent risk. For example, corporations have more to lose in terms of profits and legalities. Therefore corporations should insure their top executives with a combination of liability, life, and crime insurance.
The following are five corporate security tips to consider.
All companies should screen their on-site visitors. It doesn’t need to be an obvious process, especially at smaller companies, but it does help prevent physical altercations.
A front desk security guard is an option for corporate buildings and complexes. The guard checks in guests before they head up to the appropriate floor or toward the correct unit. They also verify the guest’s identity by asking for their government-issued ID.
Requesting appointments for every visitor is another corporate security measure that works.
Sometimes travel is essential for completing corporate duties. In these cases, it’s worth employing the security services of a private bodyguard. Very few things remain a secret in 2021. It’s easy for corporate executives to become targets while they travel, dine, or give speeches.
Corporations continue to migrate their operations and data to online solutions. The Cloud, online content management systems and digital databases offer several benefits. For example, they help complete searches far more efficiently than sifting through paper documentation.
The lending industry has opened mortgage opportunities to a wider market. Their teams use software that evaluates applications faster. The result is analyzing more applications with the same amount of labor hours.
However, all technology comes with risks. Hackers, glitches, and power outages place online content at risk for theft, loss, and altering. To combat this corporate security risk, set up a firewall and hire a stellar information technology team.
Preventing accidents on corporate property, theft, or physical threats isn’t 100% possible. In cases when these risks occur, insurance acts as a hedge against financial losses.
A company pays its monthly premium in return for a set amount of coverage for a claim. If a court finds the company liable in a case brought against the entity, the insurance provider pays the claim.
General liability, commercial property, and business income are three types of business insurance. Worker’s compensation and unemployment are two other insurance policies mandated by several stages.
Securing insurance coverage is a corporate security must.
Another way to mitigate against risks that face corporate entities is to implement OSHA-approved safety protocols.
Accidents can happen anywhere on commercial properties. Workers, staff, and guests can slip and fall without warning. Freak accidents happen. However, several other workplace accidents are preventable.
The United States Department of Labor Occupational Safety and Health Administration office compiles an annual list of the top 10 most frequently cited standards. In 2020, the top three included fall protection at construction sites, general industry hazard communication, and general industry respiratory protection.
Scaffolding, ladders, and training requirements for fall protection were three others.
Adopting OSHA workplace safety protocols mitigates risk against a corporate entity.
Corporate security risks come from internal sources at a rate a smidge above external ones. To control internal risks, it’s important to conduct employee background checks.
Employee background checks ensure that the candidate doesn’t bring conflicts of interest with them. Some industries require employees who can resist shady sources of income. Bank tellers, casino workers, and bartenders are around attractive sums of money daily. The best employees in these industries aren’t going to skim funds off the top.
A study of security breaches found that 60% came from insiders in 2020. From 2018, the rate of security breaches by insiders increased by 48%.
In 2020, these breaches led to a cost of $2.79 million. Given that the world lives in the technology era, a company must tighten up its digital corporate security. Otherwise, it faces the loss of customers and an increase in litigation cases.
One way to prevent costly corporate security breaches is to run in-depth employee background checks.
In 2021, there are far more security threats facing corporations and companies of all sizes. The larger the company, the larger a threat becomes. In a litigious society, business entities must take proper precautions against online, physician security, and ethical security threats.