*Originally published on Security Sales & Integration*
Though COVID-19 is putting serious stress on citizens and myriad industries, history has shown that the security industry will likely remain bulletproof.
From both business and personal standpoints, these are strange and challenging times for all of us, some of course more than others. Personally, my heart goes out to those most directly impacted by the coronavirus crisis.
Professionally — layoffs and furloughs notwithstanding (to whom my heart also goes out to) — this ordeal I believe underscores what a strong, vital and resilient industry all of us as security practitioners are fortunate to be a part of.
Those in the know understand those virtues are among the qualities that ought to draw many more talented young people to careers in security, but that is another topic.
Here, I wanted to offer some words of support and encouragement by reminding everyone that, amid the virus-inflicted economic downturn, security is about as recession-proof an industry as any one might speculate about. Or as I like to say, there is security in security.
It is not immune to market volatility but it is certainly more stable than most; so recession resistant is perhaps the most accurate descriptor. This is because when money flows, people, businesses and other organizations spend money on security and security-related solutions; and when things dry up, the haves continue to allocate funds to security to safeguard resources and assets from the have-nots.
Furthermore, humans’ basic need for security and safety remain relative constants throughout any Wall Street rollercoaster rides.
While from a societal perspective it is a shame, according to some reports, that crime is spiking in places, it is an opportunity for security dealers, integrators and monitoring providers to deliver solutions. During these daunting times, you and your company can come through heroically to help combat such crime and at the same time maintain profitability.
In cases where existing or prospective clients may be financially strapped due to the coronavirus crisis, your company can foster long-term brand loyalty throughout the communities it serves by extending payment plans or offering more value-add services. Doing so will also boost morale within the ranks for being associated with an empathetic employer.
An additional opportunity I want to highlight is how currently having so many places on lockdown could be taken advantage of from a security standpoint. Being able to freely access typically busy locations unimpeded by people, crowds or schedules can provide ideal circumstances to upgrade, install or service devices, systems and solutions without business disruption.
Those factors could in some cases dramatically reduce the time needed to complete projects — and help keep a security provider’s own personnel busily working during this crisis. It’s true that some end-user organizations may be experiencing cash-flow issues, but again that could be a means by which to work even more closely with them as a caring partner.
Whichever way you and your company navigate the present climate and emerge on the other side (yes, “normalcy” is just around the corner) for now I urge a continued outreach to maintain an ongoing connection with customers and the marketplace.
Make use of email, websites, social media and, in some cases, text or even phone calls. Remind them you are working through it just like they are, and eager to assist in any way possible to bring them more peace of mind and make their lives easier. For now, I continue to wish you, your family and business the best of health and outcomes.