A product recall is potentially one of the worse PR nightmares that could happen to any company. It’s the kind of scenario that keeps CEOs awake at night, and – as unfortunate and potentially disastrous as a product recall can be – it happens to companies large and small. But what sets companies apart is that smart CEOs make use of recalled product destruction to mitigate their losses and prevent future damage.
Product safety recalls can happen to any company. In fact, Statistic Brain reported on research conducted in March 2017 but the U.S. Consumer Product Safety Commission, and noted that there were over 5,000 product recalls in the United States in the twelve months from March 2016 to March 2017.
Statistics Don’t Lie
Of these 5,000 United States product recalls, more than 1,500 involved home products, and another 1,200 were major product recalls relating to children’s product, but not including toys. On their own, toys made up almost 900 of the product safety recalls. The rest of the recalls involved sports and recreation products, outdoor products, and specialty products.
As to the reasons behind the product safety recalls, the clear majority – over 1,500 cases – were because of fire and fire-related burns.
So, Your Product Has Been Recalled, Now What?
Product recalls are expensive exercises. In addition to the damage to a company’s reputation, it is often the financial consequences to product safety recalls that keep CEOs awake at night.
While it may seem tempting to go on a cost-cutting mission after a major product recall has occurred, now is not the time to skimp on costs.
After all, perhaps even worse than the financial losses that may result from a product safety recall is the potential damage to your company’s reputation if additional damage is caused by the faulty products.
Mitigating Your Losses
It’s bad enough that enough damage has been suffered by your products to initiate the product recall in the first place: but most people would agree that it would be even worse if additional damage was caused by the recalled products after the recall was put in place.
Luckily, there is a simple way of mitigating your losses and putting a stop to the damage caused by the recalled products: recalled product destruction.
Recalled product destruction ensures that recalled products are disposed of properly, ethically, and completely. If disposed of in any other way, your potentially dangerous recalled products could wind up in the wrong hands, and could easily be repurposed or resold – unbeknown to you – but still under your company’s name.
Recalled Product Destruction Prevents Further Losses
Imagine the horror you would feel knowing that your company’s products, products that had been the subject of recent product recalls, had still ended up on the market and in your customers’ homes, without your knowledge.
Without proper product recall destruction, products can be collected from landfill and on sold by opportunistic people looking to make easy money at your company’s expense.
It is only by hiring the services of a licensed and NAID certified data destruction company that specializes in recalled product destruction, not just one-time paper shredding or hard drive data wiping, that you can completely mitigate your losses and put an end to the damage caused by your potentially dangerous products.
And while you may be hesitant to devote extra funds to your faulty product line, you would agree that the minimal cost of professional recalled product destruction will earn itself back many times over, if it prevents further damage from being caused by your recalled products.
To discuss how Data Destruction Corporation can completely handle every aspect of your recalled product destruction, contact us today.