
If your business has earned a bad reputation for not keeping its employees’ vital information secure, finding members of staff that are willing to join the team may also be a challenge. If this happens, it’s important to regain their trust – whether that’s by investing in their opportunities or providing emotional support – but ultimately, you will need to assure them of their privacy. If a cyberattack results in the loss of employee data, employees are likely to have less trust in their organization and might start looking for employment elsewhere. When the cost of replacing an employee could be as high as more than 200% of their annual salary, it’s worth guaranteeing the satisfaction of every staff member. Attracting and retaining talentĮnsuring that your employees are satisfied with their working conditions, including how their personal information is stored and protected, will help with retention. Ransomware, malware, and phishing are among the most common, and the detrimental effects these can have on your business can also vary – from losing vital information to productivity loss.

There are plenty of cyberattacks that could harm your business. Healthcare, government agencies, and energy organizations are some of the most vulnerable to cyberthreats, as well as small and medium-sized enterprises (SMEs). According to research by EY, CEOs and investors both rate national and corporate cybersecurity as the top challenge facing businesses.Īny business is susceptible to an attack, but certain industries may find they are targeted more often.

However, this has also led to cyberattacks becoming more sophisticated. Why is data privacy important?Īs data storage becomes ever more digitized, the ways in which private information can be stored is improving. In this article, we will highlight the reasons why all businesses should be prioritizing employee privacy. Ensuring cybercriminals cannot access and distribute sensitive information has a world of benefits. Most organizations will store their employees’ data – such as addresses, medical information, and bank details – solely or partly online, in which case cybersecurity is vital. No matter what kind of business you run, you will likely need to store employee information.

Find out why employee privacy is so important and what measures can you put in place to protect your staff
