Category: Security

Employee Monitoring Software: How it Benefits Data Privacy

Nowadays, data is considered as a more valuable resource than oil. In this new digital economy, data and what you extract from it is very similar to oil a century or so ago. It represents a huge untapped asset that – depending on how you extract and use it – can bring lots of benefits. When trying to extract value from raw material, you need to first refine it into a commodity. For data, the value is in the knowledge extracted. 

Now that we have established the importance of data, those who are in possession of it need to guard it well. There have been lots of data breaches over the years. Unsurprisingly, one of the leading causes behind these breaches has been insider threats. According to Insider Threat Report 2018, almost 90% of companies are vulnerable to insider attacks. 

So what should companies do? One way to increase data privacy and decrease insider threats is by monitoring your employees. It’s not the most attractive idea but it gets the job done. In this article, we’re going to discuss how employers can use employee monitoring and some other methods to increase data privacy. 

Employee Monitoring

Employee monitoring is getting increasingly important in this day and age. Why you may ask? Well, it mostly has to do with our decreasing attention spans. 

It’s very easy for us to get distracted. The average human span is now just eight seconds. Mobile phones and social media apps are one of our main distractions. That’s not exactly surprising. We are always getting the urge to check on our mobile phones. This is quickly becoming a major problem for employers as employee productivity is decreasing day-by-day. 

Recent surveys by staffing firms have been able to back this point. Those surveys have found that employees spend at least 56 minutes per day on their phones, using it for personal business. That’s nearly an hour of work wasted! Daily!

To increase productivity, employers are considering employee monitoring apps. Some of the ways through which employees can be held accountable for their work: 

    • Defining clear policies. Business owners need to write down their office policies. They should explain these policies in a clear and precise manner. Include them in a handbook or guide and make sure that all the employees have carefully read through them. If an employee doesn’t follow your rules then you need to immediately take disciplinary action. Also, avoid favoritism and ensure that these policies are being equally implemented on all employees. 
    • Choosing an employee time tracking software. Make a list of features that you would like in an employee monitoring software and then search the market. Look into apps, like  Staff Timer app, that can improve business operations by providing real-time monitoring and automatic time capture. These apps can keep track of daily employee progression and increase transparency and productivity.  
    • Blocking unproductive websites. The internet is a huge space filled with sites, like Facebook and Twitter, that can easily distract even the most productive of employees. Block these websites. If your employees tend to visit pages that have nothing to do with their job, gently remind them that they are on company hours.
    • Use video surveillance. Video cameras are usually placed in the office in order to discourage or detect theft. But that’s not their only use at the workplace. Companies can also use them to monitor their employees and observe how productive they are throughout the day.

Data Privacy 

No matter the size of a company, they can’t afford to ignore data privacy. Even huge companies like Facebook and Quora have been targets of data breaches in recent years. This means that small and mid-sized companies aren’t safe as well. According to the National Cyber Security Alliance, almost 60% of small businesses collapse within six months after a cyber attack. 

Some of the most effective strategies regarding data privacy include: 

    • Identifying information flow. Businesses that know where their data is arriving from and where it’s headed to can identify vulnerable points. This lets them come up with informed decisions with regards to data privacy measures and policies.
    • Banning mobile devices at work. This may upset some employees but is proven to increase productivity. Since mobile phones are small and not very noticeable, hostile insiders can easily use them to rob or launch attacks on sensitive data. 
    • Allowing only company laptops. Just like mobile devices, hostile insiders can also use their own laptops to rob or launch attacks on sensitive data. To guard against this threat, companies should ban personal laptops in workplaces. 
    • Applying encryption. Companies need to use encryption in every bit of data, end to end. From USBs to data transfer, encryption is a must for all businesses that are serious about data privacy.
    • Use strong passwords for company laptops. Weak and short passwords are no good. Experienced hackers can easily break them. To protect your data, passwords should have at least 8 characters, 1 upper case, 1 lower case, 1 number, 1 special character, and contain no portion of the user name.
    • Regularly update your operating systems and browsers. Hackers are always leveling up and learning to break into various software. Tech companies update their software to get rid of the weak spots that these hackers have found. So fill these holes in security by constantly updating your system. 

 

Effects of Data Breaches | Prevention Tips

A data breach might just be one of the most frightening scenarios for organizations, right after bankruptcy. Data breaches not only affect a company it can also take down its partners, collaborators, or associates. 

In the first six months of 2019, more than 3800 data breaches were publicly disclosed. And these breaches exposed a whopping 4.1 billion compromised records. But the most incredible thing is the fact that only 8 breaches were responsible for exposing 3.2 billion of those records. As for the type of data itself, emails were exposed in 70% breaches and passwords were exposed in 65%. 

This should give you an idea about the seriousness of data breaches and why companies spend a fortune trying to guard against them. In this article, we’re going to discuss the far-reaching consequences of these data breaches. But first, let’s talk a little about their nature. 

What is a Data Breach?

A data breach is a security incident in which information is illegally accessed. These breaches can potentially hurt businesses and consumers in a number of ways. They are a huge financial expense that can ruin lives, reputations, and careers.

Stories of massive data breaches are frequently popping up these days. This fact shouldn’t be that surprising because technology is rapidly progressing. Most of our information has been moved to the digital world. This makes it easier for hackers to attack and compromise sensitive data. 

Consequences of Data Breaches

Financial Loss

Many businesses fear the immediate financial loses after a big data breach. Numerous financial problems can result depending on the nature of the data breach in question. Companies usually have to deal with the costs of containing the breach, compensating affected clients, coming to terms with a decreased share value and increased security costs. 

Business owners can’t accurately predict how financials will be affected in the events of a data breach but past examples have shown that the monetary loss incurred is massive. In 2018, according to the Cost of Data Breach Study, the average cost of a data breach was $7.91 million.

Damage to Reputation

After the advent of the Internet, the world started to behave like a global village. And in like every village, news travels fast. Those who never even heard about your company will know about a data breach that just rocked your whole organization. 

If the breach in question puts customer data at risk then company reputation will take a massive hit, the likes of which it may never recover from. How? Data breaches are usually followed by negative press, loss of trust, associated identity theft, and a change in overall customer perceptions about the company and its ability to defend itself. 

Disruption in Business Operations

After a data breach, business operations get severely affected by the investigation and recovery process. Victims of data loss can take a long time to recover from a breach. 

Companies will have to totally shut down operations for a while in order to sort things out and find the reason behind the breach. This will obviously have a trickle-down effect. As long as operations are shut down, work will not get done and customers will soon start looking elsewhere. 

The aftermath is so severe that 60% of small businesses close within six months after a cyber attack. 

Legal Consequences

Data breaches that leak personal information about a client or customer usually result in class-action lawsuits. Pile on the legal fees for these cases and companies stand to face sky-high costs and they may not be ready to pay it. Authorities may also get involved and prevent certain operations until investigations are complete. 

Steps Companies Are Taking to Protect Their Data

Some of the most successful strategies regarding data protection include: 

    • Identifying data flow. Companies who know where their data is coming from and where it’s headed can accurately pinpoint the vulnerabilities. This allows them to make informed decisions with regards to data protection measures and policies.

 

    • Banning mobile phones at work. This may seem like an extreme measure but it is definitely applicable if required. Since mobile phones are small and inconspicuous, malicious insiders can use them to steal or attack sensitive data. 

 

    • Only allowing usage of company laptops. Just like mobile phones, malicious insiders can also use personal laptops to steal or attack sensitive data. To counter this threat, companies can choose to ban personal laptops on office premises. 

 

    • Installing employee monitoring software. To keep track of employee work hours and measure daily productivity, companies are installing time management apps like Staff Timer. In case, of a data breach, the app can help identify the culprit(s).

 

    • Spreading awareness among employees. Most data breaches come from employee negligence or ignorance. Companies need to educate their employees regarding security measures and cyberattack policies. Employees that regularly come into contact with sensitive data should be under clear guidelines and, if possible, receive formal training. 

 

    • Using encryption wherever possible. Companies should apply encryption all across the board. From USBs and hard drives to data encryption before the transfer, it’s a must for all companies that are serious about data protection.