
Brian Sims
Editor
Brian Sims
Editor
TEAM SOFTWARE by WorkWave has introduced a comprehensive new eGuide for those security businesses actively seeking to harness the power of their operational data. ‘Data-Driven Success: Essential KPIs for Commercial Security Businesses’ provides practical guidance on implementing Key Performance Indicators (KPIs) that matter in a competitive security market.
Given today’s slender profit margins and increasingly complex operational demands, security companies need robust data intelligence in order to drive profitable growth. The essential eGuide outlines the five critical KPI categories that security managers should actively monitor to improve decision-making and operational efficiency.
Financial KPIs and trends
Real-time visibility into financial performance helps security businesses to make faster and better decisions. Monitor revenue versus budget by service line, track gross and net profit margins and identify cost variances before they impact the bottom line.
Financial data helps to answer critical questions about which services generate the most profit, which jobs underperform and, what’s more, how seasonal changes impact revenue.
Employee retention and turnover
Staffing challenges remain a significant obstacle for security businesses. Each lost employee potentially represents thousands of pounds in replacement costs and lost productivity.
By understanding turnover rates by position, job site and supervisor, security businesses can target retention efforts more effectively and identify the early warning signs of potential staffing problems.
Job budget to actuals
The gap between estimated and actual job costs is where profit disappears for security providers. With labour costs typically taking up a huge portion of contract value, even small variances can dramatically impact profitability.
Those security companies that master job costing can identify early warning signs of underperforming contracts and determine to take corrective action before margins erode.
Eliminating data silos
Security companies rely on extensive data to manage distributed workforces and monitor the quality of service delivery. With operational, workforce management and financial information often spread across different systems, identifying meaningful patterns becomes challenging.
Consolidated data approaches enable security managers to track critical metrics like missed services, compliance issues, qualification gaps, staffing shortages and overtime exceptions in a single view, in turn making it possible to address problems quickly before they escalate and impact client relationships.
Employee scheduling optimisation
Between turnover, employee absence and changing contract requirements, scheduling remains a significant challenge for security operations.
Better insight into scheduling data improves resource efficiency by tracking schedule adherence, travel time between sites, skill matching effectiveness and unfilled shifts.
Informed scheduling directly impacts labour costs, billable hours, service quality and employee satisfaction.
*Copies of the complete eGuide entitled ‘Data-Driven Success: Essential KPIs for Commercial Security Businesses’ are available online at www.teamsoftware.com
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