As a member of a Board of Directors in New Zealand, ensuring the safety and security of the organisation's assets, employees, and customers should always be a top priority. Physical security risk management plays a vital role in achieving this goal, and the Board of Directors has a crucial role to play in ensuring that their organisation's physical security risks are adequately managed.

• Legal and Regulatory Compliance. Organisations in New Zealand are subject to legal and regulatory requirements regarding security measures. Effective physical security risk management can help ensure compliance with these requirements, minimising the risk of fines, legal action, and reputational damage. The Health and Safety at Work Act 2015 (HSWA) is an example of legislation in New Zealand that requires organisations to ensure the safety of their employees and customers.  By ensuring adequate physical security risk management, the Board can demonstrate their organisation's commitment to complying with industry regulations and avoid legal and financial consequences. 

• Protection of Assets. Physical security risk management can help protect an organisation's assets, including property, equipment, and information. Organisations invest significant amounts of money in physical assets such as buildings, equipment, and inventory - in the retail sector, for example, organisations hold valuable stock, making them attractive targets for criminals. Without proper security measures, these assets are vulnerable to theft, damage, and unauthorised access, which can result in significant financial losses, reputational damage, and business disruption. Effective physical security measures, such as access control systems, surveillance cameras, and security guards, can deter criminals, prevent theft, and minimise the impact of security breaches.

• Protection of People. Physical security measures not only protect the organisation's assets but also enhance the safety of employees and customers.  The safety and well-being of employees, customers, and stakeholders are essential for an organisation's success, and a safe and secure environment can improve employee morale and increase customer confidence in the organisation. Physical security incidents can harm individuals and damage an organisation's reputation and relationships with customers, partners, and other stakeholders, which can have long-term consequences for the business.  By ensuring adequate physical security risk management, the Board can create a safe and secure environment that protects individuals from physical harm, violence, and other threats.

• Business Continuity. Security incidents can disrupt business operations, leading to financial losses and reputational damage. Effective physical security risk management can help ensure business continuity by minimising the impact of security incidents on the organisation.

• Reputational Damage. In today's world, organisations' reputations are vital, and a security incident can have a significant impact on the organisation's brand. Effective physical security risk management can help prevent security incidents, such as information breaches or workplace violence, that can damage an organisation's reputation.

• Liability. It’s also definitely worth noting that Board members can be held liable for security incidents that occur on the company's premises if they are found to have been negligent in their oversight of physical security.

In conclusion, physical security risk management is a crucial aspect of protecting an organisation's assets, employees, and customers. As a Board member in New Zealand, it is essential to be concerned with physical security risk management to ensure legal and regulatory compliance, protect assets, mitigate risks, enhance employee and customer safety, ensure business continuity, and prevent reputational damage. Boards should work with experienced security professionals to develop and implement tailored physical security risk management plans that address the unique challenges of their organisation. By prioritising physical security risk management, Boards can help ensure the long-term success of their organisations.

Protect your organisation from physical security threats with our expert risk management solutions. Our experienced security consultants will identify potential risks and implement effective measures to safeguard your people, assets and operations. Contact us today to learn how we can help you secure your business.