The National Insurance Crime Bureau reports that the cost of equipment theft amounts to almost $ 400 billion a year. This includes theft of tools, equipment, building material, and other assets from construction job sites. It also says that due to low recovery rates, to the tune of only 22 percent, construction companies suffer huge losses.
While these are statistics for some, construction company owners and managers know the real cost of these thefts that their businesses suffer.
Read on to know everything about the kind of equipment that gets stolen, its impact on the business, and how temporary fencing helps avoid all this.
What Are The Different Types of Thefts?
Construction sites are vulnerable to not just theft but also vandalism. The main reason is that they are often left unattended after the construction has gotten over for the day. Often construction professionals underestimate the importance of securing their sites round-the-clock.
Let’s take a look at some of the most common items stolen from construction sites:
- Small appliances and tools.
- Base materials such as wood, are often used for side projects or as fire material.
- Metals such as copper due to the recent increase in their prices.
- Heavy equipment.
Besides these tangible materials that are at risk of theft, there is another very important cost that needs to be taken into account. This includes the costs occurring from injuries or deaths occurring on the construction site. These costs broadly include:
- Wage losses.
- Loss of manpower.
- Medical expenses.
- Administrative expenses.
- Other employer costs
What Is The Importance of Temporary Fencing For Construction Sites?
As mentioned above, theft and vandalism of construction material and equipment don’t only spell billions of dollars as direct losses, but builders also suffer indirect losses. These include:
- Expensive project delays or loss of the project.
- High insurance premiums or cancellation of the insurance policy.
- Operator’s downtime.
- Reduced borrowing power.
- Loss of reputation.
This is where the importance of construction site security comes in, particularly by installing temporary security fence panels.
Here are some reasons why these fence panels are the perfect solution for reducing job site expenses:
Cordoning Off Equipment Storage Areas
Temporary fence panels have massive benefits when it comes to equipment safety. They offer a solid and tall perimeter to the equipment storage area and safeguard them.
Prevent Trespassers From Entering
One of the most important ways in which security panels help in reducing job site expenses is that they deter vandals or criminals from clearly seeing the equipment. Often a temptation, seeing costly equipment lying around increases the chances of theft.
Temporary panels allow controlled access to the construction site and help reduce the risk of theft directly.
They Make For Great Signage Panels
Temporary security fence panels are not just a robust security measure in themselves, they also serve as spaces where you can put up warning signage. For instance, a fence panel that carries a sign, which says ‘you are under 24-hour security surveillance’ is a deterrent.
A well-lit construction site has low chances of theft as compared to a dark and dingy site. Temporary fence panels can be used to put up extra lighting. You may choose motion-censored lighting to deter vandals and criminals from lurking at your site.
On-Site Security Cameras
Installing surveillance cameras is one of the best ways to safeguard your site against theft. Temporary fencing serves as a great place to install CCTVs to monitor who is accessing your site.
Safeguard Your Employees and Public
Construction sites are potentially dangerous places. At all times, there is a risk of people running into exposed electrical wiring, dug-up patches of ground, toxic chemicals, or heavy machinery in use. Add to this the fact that these sites receive a fair number of onlookers.
Barricading these dangerous spots on the construction site saves not just the lives of your employees but also of the members of the public.
While adding a temporary fence panel to your site is an additional cost in itself, its role in reducing your on-site expenses cannot be underscored. To make your site foolproof, what you need is solid fencing from credible companies such as Battlefield Supply. We have been creating safer spaces for more than two decades and understand projects of every scale and size. To get in touch with our fencing specialists and get your free quote, call us at 403-700-5922. Or, visit our office at 255185 Rg Rd 280 Delacour, Ab.