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G4S: Labor Shortage Big Headache for Private Security Industry

Source: Photo: Postimees/Scanpix

Board member of private security company G4S Artjom Sokolov said that technology is playing an ever increasing role in security as the working-age population declines, and finding employees is more difficult.

Statistics Estonia predicts a 7 percent decrease in the working population in the next ten years, but a 30 percent decline is expected in the young workers segment, which is the primary source of new staff for security companies.

“Clients and security companies both need to take into account these demographic realities when devising their long-term strategies,” said Sokolov, speaking to uudised.err.ee on Friday.

According to freshly released figures by the Security Association, the private security market grew in 2012 by 8.8 percent to 127.2 million euros.

G4S is still the largest private security provider in the country, with a 43 percent market share, even after a drop from 46.3 the previous year.

Urmas Sõõrumaa's USS has climbed to second place, up from 7.1 percent in 2011 to 9.1 percent last year. Securitas is third with 6.4 percent of the market.

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