Is your business data secure? A Gartner survey showed 40 percent of U.S. consumers who work for large enterprises use a personally owned smartphone, desktop or laptop daily for some form of work purposes. As employees rely more on personal devices to do business, employee data loss (defined as any information destroyed or lost on a device such as a laptop, server or mobile phone) will become an increasingly hot issue for companies.
Employee data loss carries a high cost:
• 45 percent of businesses with less than 1,000 employees reported mobile security incidents cost $100,000 (Dimensional Research Survey)
• Every lost laptop costs an organization approximately $49,000 in lost intellectual property and compromised data (The Ponemon Institute)
However, data loss doesn’t have to be an inevitable outcome. If you want to prevent an employee data loss crisis, here are three protocols the Orlando Business Journal recommends implementing in your own business:
Back Up Your Data
Subscribe to a cloud or online data backup service for an easy fix to a potentially damaging crash. If an employee’s device breaks or they lose important files, the data can be retrieved from the cloud. It's important to back up data every day or at least every week. However, a more sophisticated plan should be implemented in the event data backups fail or for information deemed too sensitive to store on the cloud.
Create a Company Policy
While it can be a challenge for businesses to monitor and prevent all employee activity, a business should create a company policy regarding the use of a personal device at work to minimize employee data loss. The policy can outline how company data can and should be accessed, employing best network security practices and limiting access to resources to only known and specified devices.
Outline a Data Recovery Plan
51 percent of businesses lack a disaster recovery plan for big data and mobile devices. You can save time and money by having a plan in place in the event your company experiences data loss. Your plan should seek to identify who has access to the device and what data was lost, potential recovery options, and the impact it may have on your business. The plan also should include a contact list that identifies IT personnel, a data recovery expert and legal counsel or law enforcement agencies.
A company policy and a data recovery plan are essential tools in your arsenal to prevent employee data loss. By implementing these simple steps, you can save your company and employees from potential business-breaking blunders. Additionally, in the case of any security or data questions regarding Seacoast Business Banking, our team is standing by 24/7 at 800.706.9991.