Has your company began transitioning back into the office? Or has your company been thoughtful enough to allow for a grace period for employees to remain remote? Whatever the case might be, COVID-19 likely had quite the impact on your organization in regards to remote work. However, the number of full-time remote employees had been increasing at an alarming rate long before COVID-19. The thirteen-year range between 2005 and 2018 saw a 173% jump in remote employees. While remote work wasn’t always a necessity, the safety of employees trumped precedence in the case of COVID-19. However, as many managers and business owners have come to understand, there is a great deal of risk associated with a remote workforce.
The first drawback comes from the challenge associated with properly managing these remote employees. The inability to interact face-to-face poses a unique challenge for managers to overcome. Inadequate communication between managers and employees is a problem, and it may lead to managers having a harder time keeping their employees accountable and on task. Not only do managers struggle with these communication issues, employees do as well. For example, employees who previously had an easy time collaborating with other team members or other departments, may have a harder time now that there are communication barriers.
Another important aspect of remote work that must be considered by organizations is the liability associated with it. Knowing that remote employees will require loaned hardware, how should an organization approach fixing any damage done to said hardware? Or worse, what if said hardware is stolen? Data breaches as a result of stolen hardware is a real threat to any organization. It’s necessary for organizations to have the right coverage from an insurance policy in order to limit this liability.
Cyber liability insurance is the key to keeping your organization safe. In instances where your company is at risk, first-party cyber liability insurance is the best course of action. These policies are meant to protect your organization from any damages caused as a result of a cyber security breach. In instances where your organization’s clients’ data has become vulnerable, third-party liability insurance is the better choice. Both of these policies are meant to protect your organization from these attacks.
However, insurance is only one piece of the puzzle. Ultimately it’s more important to establish good security habits in your employees prior to letting them loose while working remotely. VPNs, firewalls, antivirus software, and more are all tools necessary to ensuring the safety of your organization online. Employees should also beware of phishing techniques that they may stumble across and should be changing their passwords regularly on company loaned hardware.
Don’t let these risks fool you, though. Remote work is a catalyst for happier employees. Those who work remotely have reported that they have an increased sense of freedom, in addition to more free time outside of work compared to when they had to commute. Not only does remote work improve your employee’s life, it also has benefits for organizations as well. Decreased overhead costs, a smaller environmental footprint, the list goes on. The most important aspect is finding a healthy balance between safety and productivity. For more information on remote employees, be sure to review the accompanying resource, courtesy of B2Z Insurance.