Amidst the COVID-19 outbreak, many businesses have had to shift from the office environment to work from home (WFH) to protect their employees. While the transition of WFH may have been an easy one for companies that already allowed employees to work from home (WFH) frequently, it presents more of a challenge to those who have kept work within the office setting.
Not only is it difficult to let go of the reins and trust your employees to get the work done without in-office supervision and accountability, but it can be a risk security-wise as well. According to Varonis, only 5% of companies’ folders are properly protected, on average, leaving a massive amount of data at risk.
While you can never ensure that your company’s data is 100% secure, there are measures you can take to restrict access, impede malware or hackers, and protect sensitive business and client information.
In this article, we will break down a few of the keyways you can help ensure your business data is secure when WFH is the new normal.
Why Is Data Security Important?
You have a responsibility to your clients, customers, and shareholders to protect any sensitive data that your company has ownership of. If cybercriminals were to access and exploit data, your business could face severe consequences, including:
- Revenue loss (The Ame Group estimates that 29% of business face loss of revenue after a data breach)
- Legal fees (A customer may decide to sue if the data breach leads to financial hardship, especially if they end up in trouble with the IRS and forced into reaching a repayment agreement like offer in compromise)
- Regulatory fines
- Loss of customer trust and harm to brand reputation
- Spike in your insurance premium (you will now be considered high-risk)
What Is Considered Sensitive Data?
Virtually anything that holds value or could cause harm if it were revealed should be considered sensitive data. This could either be on the client end or the business end of the equation. Sensitive client information could include payment and order details, while business information that should be protected includes trade secrets and intellectual property.
At the end of day, most files, platforms, emails, and other information regarding business transactions should be protected, so it is best to apply security measures across the board.
Restricted Access and Secure Logins
Password security is critical on any internal applications you use. Having universal or employee-assigned passwords for logging into your company’s cloud infrastructure can help protect your data from unwanted third parties.
This also includes requiring employees to password-protect their laptop. While this might seem like an obvious security measure, many employees may choose not to have a password login if it is not enforced. This simple step can help protect sensitive information by preventing anyone else but the employee from accessing the laptop, which may be especially important for those who live with roommates or family members.
Keep in mind that secure passwords are not something that is easily guessed like your company name and founding year. Instead, combine a variety of numbers, letters, and symbols that would not have obvious meanings to those outside the organization.
You can also use a password manager like Keeper, so that everything requires a single sign on (for approved users) and passwords are kept private. Only a few higher-level individuals, or even one IT manager, would have knowledge of the actual passwords for the most tight-lipped security.
Only Use Work-Authorized Equipment
To keep all access to your software and cloud-based services as secure as possible, mandate that employees must use employer-provided equipment. This will allow you to limit access to certain programs and ensure the computer being used has the correct protections in place (your IT director should set this up or you should consider hiring an external company to assist with this). You will also be able to limit the number of active licenses on your software and other subscriptions.
When setting policies for WFH conduct, emphasize that employees should only conduct work-related tasks on this computer, and never complete work-related tasks on their personal computer, even if it is just checking email.
Require Employees to Secure Their Wi-Fi Network
In today’s world of advanced cybersecurity threats, you can never be too careful when having employees work from home. Just as you would in the office, you want to ensure that WFH employees have a secure Wi-Fi network they are using to complete their tasks—this includes a strong network password. Additionally, if there are other computers on their shared network, like family members, they should also ensure that they have file sharing turned off.
Some of these consequences can have long-lasting effects on the health of your business.
Educate Your Employees about Cyber Attack Risks
One of the other ways you can protect your company’s data is by educating your employees about the risks of cyber-attacks and the importance of security. Helping employees understand the types of attacks, what methods they typically use, and what specifically to keep an eye out for can prevent them from falling victim to a cyber-attack that puts your business at risk.
- Send them examples of what types of cyber-attacks your business is facing (If you frequently receive phishing email scams claiming to be someone from inside the organization, make everyone aware.)
- Educate them on the most common types of malicious email attachments used for ransomware attacks and how to spot them
- Encourage employees to exercise the utmost discretion when discussing company business and to avoid leaving their work phone, computer, and documents unattended.
To encourage employees to report these attacks and keep better tabs on your cybersecurity, you could also incentivize them to notify IT whenever there is a suspected attack. And if it turns out to be legitimate, a small reward could be provided.
Protecting Your Company’s Livelihood
According to the ID Theft Resource Center, there have been nearly 9,000 recorded data breaches between January 2005 and April 2018. And with the growth in cyber-attacks as criminals become more sophisticated, your company is at risk of becoming another statistic. Unless you act. Protecting sensitive data is critical to your company’s survival and your customers’ trust—start with these security measures for employees working from home.
Alexis Maness has a Bachelor of Science in Integrated Marketing Communications and is a contributing editor for 365businesstips.com. As a professional content writer, she has over five years of experience and is a contributing writer for several San Diego magazines. Alexis specializes in topics related to business, marketing, finance, and hospitality and tourism.
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