Employer Solutions / HRMS Newsletter – August 2016
Keeping You Up-To-Date With Information About Employer Solutions / HRMS
Cybersecurity: The New Business Priority
By: Net at Work Team
In today’s global, digital world, data rule. Safeguarding intellectual property, financial information, and your company’s reputation is a crucial part of business strategy. Yet with the number of threats and the sophistication of attacks increasing, it’s a formidable challenge.
Information security probably isn’t something that gets a lot of executive attention. It’s the CIO’s job or the responsibility of his staff. Yet every so often when scanning the headlines, news about the latest high-profile cyberattacks elevates your blood pressure as you wonder: Could that happen to us? What would be the impact on our business? How would we respond to customers and shareholders?
But then it’s often back to the more pressing issues of the day, and the state of your company’s information security recedes to the background. You won’t likely give it another thought—until there’s an incident. Then it is damage-control mode, as the company deals with stolen customer data, disclosure of confidential financial information, a disabled Web storefront, or worse.
This reactive approach is all too common, even though the question is not if a company will suffer an incident but when. In the annual PwC, CIO, and CSO survey of more than 9,600 global executives, 41 percent of US respondents had experienced one or more security incidents during the past 1 year. And that number is rising. Respondents reported financial losses, intellectual property theft, reputational damage, fraud, and legal exposure, among other effects. With such high stakes, most would agree that information security deserves full attention at the highest levels of the company.