The challenges faced by private security providers in retaining clients: a survey of Fawcette, Safeguard and Securico
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Client retention is a challenging task which demand organizations to formulate competitive strategies. This research investigated the challenges facing private security providers in retaining their clients in Gweru and also made recommendations on ways retaining their clients. It is based on the following objectives; to determine the challenges faced by private security providers in retaining clients, to establish the strategies used by Private Security Companies in attracting and retaining clients, to establish factors leading to poor client retention by private security providers and to determine the role of Private Security Companies in banks.The study, which adopted a descriptive survey design was restricted to private security companies and their clients, in particular banks. A total of 35 respondents was invited to participate through questionnaires and in-depth interviews. The selected target populations were composed of major security companies (Safeguard, Securico and Fawcette. Four major banks (ZB Bank, Stanbic, CABS and Standard charted) were deemed to be representative of banks in Gweru. The sampled data was analyzed using Microsoft Excel package and was used in data presentation. The study found that there are many challenges facing private security providers in retaining banks as their clients. However these challenges need to be countered by clear strategies which must be formulated by both security providers and banks. Further studies in this area of study must be carried out.