Perhaps not surprisingly, employees are often more concerned with accomplishing their tasks quickly, than with workplace cybersecurity. As a result, many, knowingly or not, are going around “cumbersome” cybersecurity protocols. Use of unapproved apps and devices is further exacerbating the cybersecurity efforts of businesses.
Performance Pressure
Productivity demands coupled with the desire for life-work-balance, contribute to employee zest for quickly leveraging the latest technology, whether or not “company approved.” The result? Ever more cyber threats for businesses to navigate. Consider, for example, the survey findings highlighted in a recent report, ““Balancing act: Security and productivity in the age of AI,” from 1Password:
- A major concern: Nearly 1 in 5 employees (17%) admit to never doing their work on employer-provided devices.
- Slacking on security: More than half of employees (54%) admit to being lax about their company’s security policies. Reasons include a desire to get things done quickly and be productive (24%).
- App creep: 1 in 3 employees (34%) admit to using Shadow IT — or unapproved apps and tools — to be more productive. On average, these workers use a total of five unapproved apps or tools — each representing a potential new threat vector.
- Blaming security shortfalls on employers: Nearly half of employees say security would be less of an issue if leaders made tools easier to use and policies easier to follow.
Indeed, the current frenzy of emerging tech options poses new challenges to the cybersecurity of businesses, with experts noting that tech pros simply cannot keep up with the rate of change:
The major issue is that IT teams cannot keep up with the pace of technology. Eighty percent of organizations maintained or expanded the volume of apps and tools available to employees but 50% of security professionals say it’s almost impossible to find the right balance between security and employee productivity.As well, 27% of security professionals say that emerging unproven technologies like AI are some of the biggest security threats their company faces today. About half say their company is struggling to safeguard employees as they use new technologies.
Maximizing While Minimizing?
Despite the current challenges, Jeff Shiner, the CEO of 1Password reminds business owners that productivity and cybersecurity must go hand in hand, and cannot be treated as mutually exclusive:
“Since the pandemic, employees have gained unprecedented flexibility in where and how they work, and that flexibility often extends to the apps and devices they use. Productivity has become paramount, leaving significant security challenges for IT and security leaders — who often feel like they don’t have bandwidth or budget to keep employees secure … .When it comes to security and productivity, it shouldn’t be either-or. Businesses and security providers alike need to deliver solutions that keep employees protected and productive — no matter how they prefer to work. When you secure your people, you secure your business.”
Bottom line? Faced with both threats and opportunities to juggle, “it will be incumbent upon businesses and security providers to deliver solutions that magnify human brilliance while maximizing organizational security – regardless of what threats and opportunities lie ahead.” Keep in mind that absent a magic wand, mutifactor authentication and continuous training are essential for businesses: “Learning and following shifting security processes and passwords is already a time consuming challenge, but a consistent and regular training program remains the most effective way to ensure that people are prepared for the evolving dangers.”
Company Sponsored Retirement Plan?
Even while diligently digging into cybersecurity protocols and best practices, sponsors of company retirement plans are advised to take extra safety precautions, given the added–and real–threat of lawsuits related to the protection of data. Ensure your own personal and business assets are shielded from the repercussions of fiduciary breach allegations, including those resulting from cyber incidents. It’s possible, with Fiduciary Liability Insurance from Colonial Surety Company, where a one-year policy, inclusive of 50k Cyber Liability Insurance, costs less than an hour of ERISA defense attorney fees.
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