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How Recent Acquisitions Create Opportunities for Small and Mid-Sized Security Companies
By Keith Oringer, Security ProAdvisors
Consolidation within the security guard industry has created new opportunities for the small and medium-sized guard company. Below is a discussion about the merger and acquisition integration issues and how to position your company to capitalize on these opportunities.
Merger and Acquisition Integration Issues
- Operational
- Pay Rate Discrepancies. When the acquired company has a dissimilar business base with lower bill and pay rates, it becomes difficult for the acquirer to cross utilize its existing labor pool to fill open posts in order to reduce overtime.
- Uniforms. Re-uniforming the acquired labor pool is costly. The transition must be smooth or the optics will reflect poorly on the acquirer with clients and the public.
- Cultural Differences. Operational cultures vary: some companies motivate through incentive programs; others manage with more heavy- handed methods. This often causes confusion and increased turnover.
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NCS4: Finding the balance between safety and
experience through better training, planning
By Dan Mendelson
Sports is big business. The $60 billion a year industry is growing, as is concern over fan safety. After all, potential attackers are looking for something that gives immediate global impact and sports certainly does that.
But the concern isn’t just about terrorism. Lone wolves, active shooters and even unruly patrons can disrupt the fan experience. Creating a worry and hassle free event that doesn’t interfere with the experience is key, and could determine whether a fan returns to a venue or stays home.
The National Center for Spectator Sports Safety and Security (NCS4) has helped security professionals strike the right balance between experience and safety since its inception. NCS4 is the nation’s only research center focused on spectator sports safety and security. Its recent partnership with Interpol expanded that scope, and promises to create a global platform of excellence and best practices within the international sports community.
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5 Terms In A Security Guard Contract That You Should Understand
Sooner or later it happens to you: You’re in the process of courting a new client, one that can really make a difference for your business. Everything seems to be going well, until it comes time to start discussing the security guard contract and then they begin asking questions about those terms that you’ve always meant to figure out. Now what?
It’s always best to have your own contract ready — one that your own legal counsel has gone over with you — so you don’t have to rely on the client’s language. But some potential clients might want to use their contract language, and that can increase your risk to a level you don’t want to take on. The Mechanic Group, a provider of insurance for private security firms, has created a quick primer to get you up to speed on terms that every security company executive should know, with the understanding that you should always consult your own legal counsel before signing any contract. Here is a summary of their primer.
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When Private Security Patrols Public Streets
With violent crime on the rise in some urban areas, neighboring communities concerned about their safety are hiring private security guards to patrol their streets. These guards are seen as an extra set of eyes for law enforcement, but their presence has raised concerns. Should they intervene during an incident? Are they armed? What is an acceptable level of aggression?
See how Chicago is grappling with these and other questions.
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