Key chaos or control? Why poor key management is costing your business more than you think

We all know it’s annoying to lose track of keys. But if you work in a large workplace such as a school, hospital or hotel, lost keys can create serious issues beyond pure frustration.

From staff unproductivity and job delays to security and safety risks, the real cost of poor control over keys is immense and never-ending.

The obvious cost: key and lock replacement

“Who’s got the keys to the van?”
“Did the electrician leave without returning the keys again?”
“Who has the master key(s)?”

If you regularly hear questions like these at work, it’s likely that your staff are too often replacing keys and locks.

Of course, if this only happens every now and then, your bottom line won’t be taking too much of a hit. 

But if key and lock replacement is a regular occurrence in your workplace, a small cost will blow out to a big cost in no time.

And if a master key gets lost? You’ll suddenly have no choice but to re-key the entire site, which could amount to tens of thousands of dollars.

The hidden cost: poor productivity

The direct costs involved in replacing keys and installing new locks are one thing. But what about the time your staff spend managing your current key control process?

There’s no question that ‘manual’ key management in the workplace sucks up huge amounts of people’s time – in countless ways. 

Just think how much time your staff members spend every day:

  • Searching for keys
  • Scouring manual records to track and locate keys
  • Calling people asking for keys to be returned
  • Manually issuing and receiving keys at the beginning and end of every shift
  • Travelling to and from work sites just to pick up and return keys
  • Delaying or cancelling jobs because they can’t find the right keys

And who is it that’s doing all this key chasing and handling?

Is it a dedicated person whose sole job it is to manage keys? Or is it other personnel – such as receptionists or security officers – who should be focusing on higher value tasks?

Whatever the case, it’s almost always inefficient and a burden to your bottom line.    

The ultimate cost: workplace security and safety

With every lost key, there’s a chance it could fall into the wrong hands.

And if it does? Your workplace is suddenly at risk of things like:

  • Physical theft
  • Property damage
  • Data privacy breaches

But the consequences go a lot further than that.

Whether you manage a hospital, hotel or school, missing keys threaten people’s physical safety every day. 

It’s not something we like to think about (so we don’t). But it’s also something we can’t afford to ignore. Because if the unspeakable happened to someone on your watch – simply due to a lost key – the cost to your reputation, business and bottom line could be catastrophic.

To learn more about the many benefits of efficient key control and automation in the workplace, contact Torus today.