10 Benefits to owning a Video Surveillance System
A video surveillance system is an integral part of a modern business. A video surveillance system has numerous benefits including the ability to save you money. The return on investment is realized very quickly for every business.
Theft Prevention, Detection and Prosecution
Both internal and external theft are significant problems for businesses of all sizes. Video surveillance not only helps to prevent theft, it can aid in detecting it and prosecuting the offender. The statistics on internal or employee theft are startling:
- 64% of businesses surveyed reported employee theft (University of Cincinnati Study 2014)
- 40% of thefts in small businesses were of money/cash (University of Cincinnati Study 2014)
- 61% of reported thefts were ongoing schemes and ranged in duration from a low of about two weeks to a high of 20 years. The average duration of a theft scheme was 16 months before the employee was caught. (University of Cincinnati Study 2014)
- the average amount stolen (over time) was $20,000 (University of Cincinnati Study 2014)
- Employee theft is on the rise – up more than 5% annually each year (Business News Daily 2013)
Its a simple fact – no statistic is needed to prove it — employees will work harder when they know they are being watched. But a quick examination of numbers shows just how much there is to gain from video surveillance. With a conservative improvement of just five percent in productivity for just one employee working at minimum wage, a business owner could expect to gain (or save – in wages) over $800 per year!
Workers Compensation Fraud Prevention
Video surveillance can help prevent Monday morning BWC claims from weekend injuries as well as exaggerated claims made on employers. A quick video review can validate or invalidate an employee’s story.
Three percent of slip-and-fall injuries are fraudulent. (National Floor Safety Institute) That three percent is known – many more could exist unaccounted for. Such false claims can be costly for a small business. Video surveillance can help to invalidate such false claims.
Improving Customer Service
Video surveillance can help improve customer service in many ways. With video surveillance you can monitor employees customer service skills and habits allowing you to catch rogue behavior early, use recorded incidents as examples in training, monitor customer habits and traffic patterns and measure the overall satisfaction of your customers based on reaction.
Video surveillance can aid in quality control, aiding in the ability to catch problems in production quickly and helping to identify problems in production later. Video systems are often embedded in machines and production lines to help early identification of problems or bottlenecks.
Video surveillance allows you to easily invalidate false alarms from a security system. It also allows you to validate alarms, giving you the ability to respond faster when required.
Create a Safe Environment to Work
Having video surveillance cameras throughout your facility and outside throughout your property can help maintain the comfort in working in a safe environment. Having cameras present throughout your property helps to deter criminal activity so you and your employees can be safe and secure.
When security cameras are present, honest employees can feel comfort in knowing they will not be falsely accused. In an environment without security cameras hostility or tension can easily arise after a theft. Every employee becomes somewhat of a suspect. With video surveillance the dishonest can be quickly caught and the honest can go about their work feeling assured of their continual employment.
Lower Insurance Premium
Most insurance companies offer a premium discount when you have a video surveillance system. This can be helpful in quickly realizing your ROI so you can enjoy the many other benefits!