A new benefit is out, and your employees want it.
According to global market research company, Forrester, more than half of employees wish they had more privacy and security protection at work.
Can you blame them? Current research shows alarming trends:
- 62% of companies in the Americas have experienced a data breach in just the last year.
- Data compromises impacted about 422 million people in 2022.
- It takes about 277 days — almost nine months — to identify and contain a breach after it happens.
Indeed, privacy and safety protection solutions can give workers more control and peace of mind over their personal data. But they can also enhance cyber security for the organizations at which they work.
90% of employers want to add data privacy protection to their benefits program.
Source: Employee Benefits News, August 15, 2022
Here are 5 solutions that can add cyber security and privacy to your benefits package for your employee’s peace of mind:
1. Data security and privacy protection
What it Offers: VPNs, anti-browsing trackers, password managers, and antivirus and threat protection
Why it’s important: Keeps personal and corporate devices safe from potential hackers, phishing activities, and data breaches, especially at organizations with a large percentage of remote workers
How it can be offered: Free, part of IT services
2. Identity theft protection
What it offers: Credit monitoring, alerts, and identity theft recovery services
Why it’s important: Monitors credit files and identity threats; sends alerts when personal information is used (e.g., if someone opens a credit card in employee’s name)
How it can be offered: Free, co-paid, or as a voluntary benefit
3. Biometric authentication
What it offers: Uses either an employee’s face or fingerprint to digitally identify them when accessing devices, data, and systems, and/or personal information
Why it’s important: Makes it extremely difficult for hackers to fake or steal credentials to gain access to private data
How it can be offered: Free, part of IT protocols
4. Cybersecurity education
What it offers: Trainings, best practices, drills, and protocols that focus on being “cyber safe”
Why it’s important: Helps employees understand the importance of being cyber safe, makes them aware of malicious and ongoing threats to systems and data, and helps to foster a general culture of cybersecurity for your organization
How it can be offered: Free, part of IT protocols
5. ID theft insurance
What it offers: Provides financial protection against a wide array of cybercrimes, ranging from cyber and ransomware attacks to data breaches and online fraud. (Just be aware that all policies are different. Discuss your specific needs and situation with an insurance broker to understand what’s covered, what’s not, and any limits or options.)
Why it’s important: Can reimburse employees for costs, usually up to a specific limit, related to the restoration and recovery process if their personally identifiable information is stolen
How it can be offered: Co-paid or as a voluntary benefit
The hidden cost of not offering these solutions?
Data breaches not only wreak havoc on organizations, but they can have serious effects on employees. Read how data breaches can impact personal lives of employees, their mental health, and how you can help.
For more information, contact a member of our Employee Benefits team today.
This material has been prepared for informational purposes only. BRP Group, Inc. and its affiliates, do not provide tax, legal or accounting advice. Please consult with your own tax, legal or accounting professionals before engaging in any transaction.
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