Jobsite Theft: What Does it Cost You?
Jobsite theft is a costly problem in the construction industry. Some figures estimate jobsite losses to add up to $1 billion or more per year. This is a lot of money, but honestly, this figure is likely only based on the cost of items stolen. Jobsite theft is costly in many areas, not just replacement cost. The true cost of jobsite theft is likely much higher than we think.
Why is Jobsite Theft so Costly?
Jobsite theft is costly in many areas. As mentioned, the most obvious way jobsite theft is costing construction companies is in replacement value. When tools, equipment, or supplies are stolen, replacement cost is the first number considered. However, when these things disappear, the residual effect is sometimes felt through the entire project. The following things all factor into the true cost of jobsite theft:
- Replacement value
- Delayed timeline of project
- Increased insurance premiums
- Loss of new jobs due to delays
- Training cost for new employees if thieves are caught and are workers on the site
- Damage to facilities or equipment
- Many more unforeseen costs
Why does Jobsite Theft Occur?
There are many reasons jobsite theft can occur, but a few of the main reasons all center around construction companies not being proactive in trying to prevent it. It is a problem on the rise, yet many companies still do not address it head on. Many factors contribute to the high theft rate on jobsites, but here are a few that stick out:
- Jobsites are often poorly lit at night
- With many subcontractors and workers on the site each day, theft is hard to pinpoint
- There is very little to no construction site security at night or on weekends
- There are many points in the process where theft can occur
- One key can fit multiple pieces of equipment
How do I Improve Construction Site Security?
The best way to prevent jobsite theft is to invest in valuable onsite surveillance equipment. The construction industry is one in which conventional surveillance just isn’t always feasible. Sometimes the infrastructure is not in place to power a conventional security system. As construction progresses, a jobsite is constantly changing, as are the surveillance needs of the site. Solar-powered mobile surveillance units allow for movement of equipment as necessary to provide full construction site security coverage. Construction site security should be a top concern for project managers, site superintendents, and any other number of professionals in the construction industry.
In addition to having mobile surveillance units in place, video-verified alarm systems can provide multiple advantages in preventing jobsite theft. Video-verified alarm systems can allow breaches to be immediately investigated for validity. They also can provide a priority response from authorities, resulting in a higher likelihood of apprehension of the thieves.
Jobsite theft is an epidemic in the construction industry, and it is a problem often easily prevented. Proper construction site security can prevent theft from employees and laborers during the workday and keep your site and equipment, tools, and facilities safe at night.
