24 Hour Emergency Response 604-644-9229 (BC) 780-995-9229 (AB) 416-628-3393 (ON)
24 Hour Emergency Response 604-644-9229 (BC) 780-995-9229 (AB) 416-628-3393 (ON)
Before you can begin to implement any strategy, you first need to understand what it is and why you are doing it.
A key factor in this process is considering risk mitigation. Risk is defined as “a situation involving exposure to danger,” whereas mitigation is defined as “the action taken to reduce the severity, seriousness, or painfulness of something.” Essentially, this means the strategy you take to reduce the exposure to danger for your business.
However, what is considered a danger in the workplace? There was a time when it would just concern people walking into your business with the intent to steal, but in today’s modern world, there are so many more risks that need to be thought about and planned for.
Today, many activities are being conducted online, including shopping, banking, as well as keeping up with the latest in TV shows and what your friends are up to on vacation.
With the cyber world being so important in our day-to-day lives, it has the potential to leave your business exposed to hacking. For example, a company’s confidential data can be stolen and sold, your money can be removed from your bank accounts within seconds, and people can post slanderous comments on review pages.
While you may think that you have taken every precaution to prevent cyberattacks from happening, online hackers’ methods evolve almost as fast as the technology designed to stop them.
You should complete weekly or monthly reviews of your technology practices. To help you, consider working with an external and reputable IT company. They can even monitor your servers and online presence for you. Constant updates and patches, changing passwords, and more should all be common practices to keep your business safe online.
Almost every industry is now required to follow regulations and rules as set out by the relevant governing body. This can also include federal and provincial laws. As these regulations can change on a moment’s notice, especially in the case of a worldwide pandemic, your business needs to remain on top of these changes and implementations.
While you may have a department dedicated to risk and mitigation, the best way to remain compliant is to have a workforce that understands the importance of what they do and how they do it.
Create a culture where risk and mitigation strategies are explained and updates are communicated, and hold the entire team accountable, not just certain people. Everyone within the company has an essential part to play.
It’s the dream of every business owner to be able to expand and grow, to spread out from their hometown, and to bring their products and services to people all across the country or maybe even the world.
Here, it is essential to have risk mitigation strategies in place to ensure that the place you are expanding to (or trying to get into) is the right place. It’s not just a case of having the products that people need. It’s about being in a location where the market is not already flooded with similar things, or a hostile environment or a wrong financial district.
Market saturation is a real problem for a lot of companies, so avoiding it where possible gives you the chance to get ahead and grow. This is where a great security team comes into play. They can review the risks and create a game plan for the area you are considering, even if the plan involves finding another location.
Companies that have only a few products to bring to the market often fail. By having multiple commodities that cater to one specific area, you are more likely to generate more interest and sell more products.
Product diversity minimizes the risk of a company failing due to a limited catalogue of services and other items. Having backup merchandise gives you something to fall back on if the market suddenly drops for your primary item. This also applies to having a range of services. Diversity gives you more protection in what could be a volatile market or economic climate.
The healthcare or finance industries may require background checks of their employees prior to hiring, especially if the job is high-risk. This helps to find the best person for the role. You likely wouldn’t hire a convicted thief to work in a bank, just as you wouldn’t hire someone with a dangerous criminal background to work in schools or hospitals.
Creating a safe and positive environment for people to work in, and where they can report potential threats in safety, is key. While technology can oversee many aspects in our lives, the human eye is still one of our greatest weapons against risk in the workplace.
Combined with criminal record checks, additional security scrutiny in the workplace, and regular policy reviews with the staff, this helps to keep people compliant and develop pride in their company and colleagues.
In a world where so much can change in a heartbeat, it can be difficult to keep on top of compliance and risk management. Partnering with a company that can do both is a rare opportunity.
At Optimum Security, we can provide security to commercial properties, government buildings, and educational institutions, among many other spaces. All our security personnel are trained in the latest technology and risk mitigation techniques. We also provide 24/7 emergency services.
For more information about our security services or to get a quote, you can call us at 416-628-3393 or contact online.
