In my personal experience of heading a security services company now for over a decade, I have found people find it difficult to choose the right security services company. In this mail, I will share with you my views on how to find the one that is suitable for you.
The single most important question that you should ask is
“What is minimum level of statutory compliances you are prepared to live with?”
Some of the compliances include ESI, PF, Bonus, Leave compensation and over-time. You are likely to have 3 options, and characteristics associated with each of the options are listed below.
Answer to the above question would broadly decide the cost you are likely to incur, as compliances can comprise up to 40% of the total costs incurred by the security company.
So, the cost you pay is less dependent upon quality of services or profit margin of the security services provider but more on degree of compliances you wish to adhere to.
Kindly note I am not passing any ethical or legal judgment for any of the options.
Once you have identified your option related to compliances, three most important characteristics of company you should look for are
So do check if your requirement for compliances is matching with the compliances provided by the company so as to ensure you are not under complied or over paying for compliances you do not need besides checking for the other 3 important characteristics mentioned above.
I hope the above information helps and if you need any help in selecting one feel free to ask me.
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