I’ve always believed that firms which operate with a social conscience will prevail, writes Mark Rogers, pictured, Executive Director, at the guarding firm Corps Security.
Whether it’s offering decent pay or contributing to the uplift of the supply chain that surrounds your organisation, not only is acting with a social purpose a fulfilling and rewarding thing to do, but there is also a sound business case behind it. Indeed, evidence pointing to this conclusion is growing all the time. Consumers are being put off by firms with questionable ethical stances and practices, a trend which has grown during the pandemic despite the financial hardships endured by many communities and people. Meanwhile, investors are becoming increasingly aware of ESG principles and now routinely cover this as a fundamental part of their decision-making processes.
There are many reasons why operating as a social enterprise can pay dividends, not least during these difficult times we in the services-led economy face right now. The security sector, with many other services businesses, is faced with something of a perfect storm of challenges. From April this year, unless the UK government U-turns, National Insurance contributions will rise by 2.5 per cent. Meanwhile, the minimum wage will be going up to £9.50 an hour, with the Real Living Wage also rising to £9.90 per hour and £11.05 in London.
This has been partially caused by a backdrop of record inflation which has exceeded 5pc, a situation created by higher commodity prices and shipping costs and one that compounds the financial pressures already placed on businesses. The pandemic, of course, has not helped and is a big reason behind the government’s decision to raise taxes. In addition to rising costs, we’re also facing a labour crisis. At present, there are more than a million vacancies in the UK, many of them being in service-led industries that simply have not been able to offer job stability through periods of restrictions and lockdowns. Meanwhile, the so-called ‘Great Resignation’ is continuing to create gaps in the workforce – more people are handing in their notice to pursue their dreams, whether that be to retire earlier than planned, travel, remain in or rejoin education, or even set up their own businesses as opposed to entering the labour market. Added to this labour challenge is a perception that our sector is rarely a first-choice career, something that must and can be addressed – in part by switching to a socially-driven mindset.
These two things – rising costs and a labour shortage – are playing against each other. Organisations need to figure out how to attract and retain talent while ensuring not just adequate but generous investment in people. But what does that look like in practice?
For Corps Security, the only major social enterprise in the security sector and a Living Wage Recognised Service Provider, we’ve always taken huge pride in looking after our people. And we won’t let this perfect storm of challenges get in the way of that. In fact, we are even more determined to develop a people-first culture. Those who work with Corps Security can progress towards Buy Social targets which form part of the Social Value Act 2012. Our supply chain is diverse, ethical and sustainable, and our colleagues benefit from a series of key support structures, including a team of some of the most highly trained and experienced security offices in the sector, and a state-of-the-art technology setup operated out of our centre in Glasgow.
We are living proof that investing in your people and offering decent pay is a crucial step in alleviating staffing shortages. In today’s market, paying just the minimum wage is no longer enough, and we are readily seeing security officers taking on roles elsewhere, especially in less risky retail settings that offer greater wages. Alongside this, employers should be offering other reasons to keep people with them in the longer-term – that can include performance-related bonuses, flexible working conditions, enhanced training opportunities and a vibrant company culture.
But freeing up the capital to offer higher salaries may not be feasible, particularly for those firms that have already had to battle with the challenges that came in thick and fast with the 2020 and 2021 lockdowns. This is where technology could have an integral role to play. In our industry, security officers will always stand as a central part of the offering we provide to clients. Nothing will ever change that. But now is the time to invest in technology, because a blended security provision that balances manned guarding and security monitoring technology will result in more cost effective solution. Indeed, smarter use of technology can not only help to reduce some of the cost burdens and pressures created by labour shortages, but also enhance the quality of service provided and make for a more compelling experience for employees.
Today, security organisations can choose from a huge array of security monitoring technology on the market. If deployed effectively, they can lead to significant cost savings that can free up funds to improve the salaries of employees. In addition to investing in people and tech, there’s one more step – and that’s to remember that security has a social purpose. It’s shouldn’t just be about profit. There are two other Ps. Planet and Purpose. Both work together to keep the last P – People – happy and engaged, which in the end keeps businesses ticking. People are the lifeblood of a business after all.
Times are tough and no doubt 2022 will be difficult as cost and labour pressures continue to mount. Organisations that commit to doing everything in their power to look after colleagues, customers and the wider ESG agenda, investing accordingly along the way, will emerge stronger.
