The PSR Podcast | The Latest in Physical Security

An Open Letter: The Security Rundown is Our Newest Commentary Podcast about Physical Security

Hi friends – Tim Lozier here.

My colleague Jeff DiDomenico and I were having a discussion about what’s happening in physical security the other day, and we had an idea – “why don’t we just record these and provide these quick takes on the industry?” We wanted something that would be simple and quick; a rundown of topics that we can comment on. “Keep it simple” is our mantra. The Security Rundown will be all about the physical security industry in under 5 minutes (or as close as I can keep Jeff to it).

So, there you have it – newsworthy physical security industry topics in bite sized chunks. We plan to keep it up and have fun in the process. And hopefully, these episodes will provide some valuable insight into what’s going on in the security industry right now.

All Episodes of The PSR

1. Episode 1: The Swinging Market Hits Physical Security: wages, interest rates, subcontracting, insurance and valuations (on this page).
2. Episode 2: Robots Like Musical Chairs, Cannabis, and Sports: cannabis security, stadium and event security, compliance agents, unusual revenue streams and robots.
3. Episode 3: The Revenge of the Market Merge and Basketball Dreams: guard firm mergers, private policing, OSHA and officer safety, recruiting and a standout stadium officer.
4. Episode 4: A Security Guard’s Sunscreen: GPS tracking, reputation management, training and summer security.
5. Episode 5: What’s Next for Physical Security?: Jeff DiDomenico and Ryan Smith of Titan Protection on the future of manned guarding, training and de-escalation.

Now, introducing our first rundown:

Episode 1: The Swinging Market Hits Physical Security

1. Wage and Labor: The labor market is swinging back up, and we’ve seen that wage rates are up 1.2% higher than before the pandemic. What is the impact on the security guard industry and keeping profit margins?
2. Interest Rates and Inflation: The economy is seeing challenges and interest rates are rising, which is really looking to put risk on security guard companies with receivables, finances, and keeping their company protected.
3. Subcontracting: Thinkcurity just did a webinar on subcontracting for security guard firms and how they can build a partner network. What is the benefit for smaller security guard firms in becoming subcontractors, and how can larger firms leverage this network to expand?
4. Insurance Risk and Exposure to Higher Premiums: COVID brought a whole new set of risks and liabilities that insurance companies are looking to increase premiums on high risk areas. So what is the risk to security guard companies and how can they mitigate the risk?
5. Valuations: What are you worth? How do you know, whether you are looking to exit and sell, or even apply for lines of credit to get more financing and secure better interest rates. What is out there to help assess the value of your security guard company?

Hope you enjoy this first episode of The Physical Security Rundown. Stay tuned for more as we play around with how we chat about the important things happening right now in the physical security industry… in the span of 5 minutes or so.

Until next time. Take care,
Tim

What Episode 1 Means for Security Leaders Today

Market conditions change, but the questions from this episode come back every time they do. Here is how to answer each one.

Protect margins as labor costs rise

Labor is the largest cost in a guarding business, so wage pressure lands directly on margins. The answer is seeing problems while the pay period is still open. TrackTik Margin Insight shows how every contract is performing mid-period and flags overtime your contracts do not cover, while TrackTik people management tracks labor cost live to prevent overtime before it happens.

Shorten the path from shift to cash

Higher interest rates make slow receivables more expensive. Invoicing straight from verified hours removes the manual steps that delay billing and invite disputes. TrackTik builds each contract with its billing rates and generates invoices from the operational data your teams already capture in the field.

Subcontract with the same standards

Subcontracting lets smaller firms take on work they could not staff alone and lets larger firms extend their coverage. The partnership only works if every partner meets the same service standards and reports the same way. TrackTik Command Center unifies alerts, patrol tracking, response protocols and vendor management in one place.

Documentation is your best insurance

Insurers and clients both look at how well you can show what happened. Time-stamped incident reports and verified patrol records make incidents easier to defend and claims easier to resolve. Build that history on every site with TrackTik incident reporting and guard tour records.

Know what your company is worth

Buyers, lenders and investors want proof: margins by contract, client retention, revenue trends and consistent operations. TrackTik business intelligence turns your operating data into real-time dashboards and reports you can put in front of them.