An estimated $300 million to $1 billion of construction equipment is stolen each year. And 25% of stolen equipment is never recovered, making it a huge setback for small business owners.
If you have or are concerned about a theft problem, the best way to handle it is to prevent it from happening. Luckily, there are many ways to safeguard your business assets.
Read on for 5 construction equipment theft protection tips.
1. Keep an Equipment Inventory
The best way to stop theft is to have an equipment management strategy. In some cases, you might not know something is missing until you have to use it for a project.
Keeping an inventory and checking it often will stop items from disappearing. Plus, if you have a record of all your serial numbers then you can prove an item belongs to your company when it is found.
2. Lock Tools Up and Put Them Away
Investing in construction equipment that hides and locks your tools will save you money in the long run. Not only do lock boxes keep items protected they also keep things out of sight.
If a thief cannot see a tool then they will not be able to steal it. However, if they spot a locked box then they might try to unlock it. So, be sure it is a heavy-duty box with a strong lock.
3. Use a GPS Tracking System
Preventing heavy equipment theft is also necessary because thieves can easily pick them up if they have a truck and several people with them. And even worse, your work truck could be stolen with these heavy items inside.
Use construction vehicle tracking to locate your car and everything inside. You can also use GPS on mobile equipment like pavers and bulldozers.
4. Do Employee Background Checks
Construction equipment management will not be effective if your workers are stealing from you. They have access to your equipment and cannot be supervised all the time.
Keep your equipment safe by ensuring your employees are trustworthy. Conducting background checks will make sure they have no criminal record, which will help you decide if you can trust them not to steal.
5. Secure the Worksite
Leaving your equipment at your work site is convenient and sometimes necessary. However, it is hard to secure your tools and large items out in the open.
Try to prevent construction site theft by installing a temporary fence, hiring a security guard, or using video surveillance to monitor the area. If these tactics are not possible then try to take as many tools with you home at night or in between jobs.
Construction Equipment Theft Protection Saves You Time and Money
Investing in these tips for construction equipment theft protection will save you from having to report the stolen property to the police, trying to find missing tools, and buying new ones. Therefore, doing everything you can from this list should be your priority given that construction tools get stolen so often.
Check out our Business section for more ways to improve the efficiency of your construction company.