One of the most competitive fields today is the security industry. There are many global corporations and established local companies that are hard to beat in terms of reputation and credentials. That is why these days, many smaller security firms are struggling with the same problems: how to increase the team size to maximize product and service offerings without increasing the bottom line and maintaining productivity.
There is a short answer that most have yet to consider that would benefit everyone involved in the process: subcontracting. While most would think about enhancing marketing or improving traditional sales, you should consider subcontracting as a great alternative. What is it, and what are its benefits? Read on!
Subcontracting for a Physical Security Business
Subcontracting is exactly how it sounds: hiring other security firms to supplement your operations. While it may seem counterintuitive to work with a possible competitor, the practice comes with many benefits.
Hiring Subcontractors Is More Cost-effective
Depending on the type of service you offer, you might need more equipment, software, and labor for your daily operations. If you are a smaller firm, you would have a challenging time fulfilling all these other requirements. This issue can get exacerbated if you are required to go above and beyond for the welfare of your clients. Even though your team and budget will be stretched to the limits, you do it anyway for client satisfaction.
The more cost-effective approach to this situation is subcontracting a smaller security company. If you look for ones that can provide the services you are missing, then they will be able to make your operations easier. From additional labor to specialized equipment, these firms will offer what you need, so you will not have to make expensive purchases. It is all a matter of choosing the right team to work with.
Opens Doors to Other Opportunities
Since you are working with other firms, you would be creating stronger relationships and expanding your network. That is why subcontracting opens doors to new business opportunities. You can get into new contracts through referrals, expand your capabilities, and gain a good reputation within the field.
For example, you are a security firm that specializes in security guard services. However, you need more labor as your business expands and gets more clients. You can look for a firm that focuses on security guard training. By partnering with them, you will have a stable source of recruits while the other firm has a partner where they send trainees.
Increases Security Guard Availability
Many physical security businesses are stretched thin when many clients need their services. This can affect your performance as a whole and increase security risks. One way to avoid this scenario is by subcontracting to another firm.
With their additional labor, you would be able to supplement your own force and bolster their capabilities. Depending on your negotiations or contract, the guards can work with you for a single project or a set amount of time. It all depends on your needs.
Allows Guards to Work for Multiple Companies
Contracts between two security firms allow guards to operate under many companies. This is especially useful if particular security personnel has certain specialties from their skills or past experiences. Finding work where their capabilities are suited is easier if they can shift from firm to firm. For your company, you would have access to elite guards who can provide exemplary services to your clients. It is a win-win for all parties involved.
Subcontracting in the physical security industry is not exactly new, but there are many things about the practice that some may not know about. Thankfully, Paul Ohm, Executive Vice President and Principal of P4 Security Solutions, and Ken Grossberger Ph.D., CPP of Elite Investigations, have shared their insider industry knowledge in our webinar, which you can now view on-demand.
Together, these two experts spoke about how security businesses of any size can leverage subcontractors to increase profits, grow their businesses, manage risk, and build a more robust workforce. Participants will learn about:
- Attracting top subcontractors and building a stronger security team
- Creating cost-effective ways to build and scale business growth with temporary partners
- Ways to improve working relationships within the security sector for mutual growth
Turn competitors into partners with our interactive and informative webinar now available on demand!