Discover How to Reduce Turnover, Increase Engagement, and Retain Your Security Officers
Around $11 billion is lost annually due to overall employee turnover, according to the Bureau of National Affairs. This isn’t only representative of the physical security industry, and that number considers more than just lost hours. It factors in the cost associated with finding, training, and equipping replacement workers as well as reduced productivity.
But nowhere is the issue of turnover more acute than in the physical security industry. High turnover rates, low retention, and low employee engagement have always been a challenge for security firms and corporate security departments alike. Today, the high turnover rate in the security guard industry is a key challenge almost all face.
Security officer and security guard turnover rates are thought to be over 100% annually. That means that the average private security firm has a completely new workforce every 12 months. And that high turnover has potentially immense consequences.
When short on personnel, the exposure to risk increases. This may lead to people getting hurt, businesses experiencing increased incidents of theft and vandalism, and an increase in stressful situations that quickly get out of hand, like a lost child, crowd control, or medical emergency.
It’s why it’s so necessary for security companies to do things like offer competitive wages. This is one of many ways to help reduce churn in a role that can ask employees to risk their lives, as outlined in our guide.
In addition to speaking about wages, we go over common reasons for employee turnover and offer 10 ideas that can effectively help reduce your turnover rates, increase employee engagement, and retain your best physical security personnel.
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