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7 Strategies to Reduce Risk Exposure and Strengthen Cybersecurity Best Practices

Protecting your business from cyber threats is more important than ever before. According to IBM’s most recent Cost of a Data Breach report, the average cost of a data breach in the United States is $9.44 million. That’s enough to bankrupt most businesses within a few months! 

As cyber-attacks become increasingly frequent and sophisticated, businesses are at risk of experiencing significant financial losses and reputational damage. However, implementing robust cybersecurity strategies that encompass best practices and proactive measures can help mitigate these risks. 

At People2.0, we understand the importance of keeping your data safe and secure. In this article, we will share seven strategies that can help businesses strengthen their cybersecurity practices, increase their resilience to cyber threats and drive same store sales, from regular data backups to educating employees on best practices. 

1. Backup data regularly 

Backing up data regularly is essential in ensuring that all of your work is protected and easily recoverable should there be any kind of security or data emergency. Without backups, you may experience extended downtime and a decrease in worker productivity, threatening the stability of your business. 

Taking a little time to back things up can save your business a ton of trouble down the road. Setting aside time each week and automating backups is an easy way to ensure that your data is protected at all times. 

2. Develop strong incident response procedures 

When it comes to incident response procedures, having a comprehensive plan in place can make all the difference. Knowing exactly who to call and which steps to take if one or more infected systems is identified is key. 

Such a plan should include definitive points of contact, whether they be IT teams, third-party providers, or other authorities. It should also outline essential steps to take upon identifying an infected system, such as power cycling affected hardware, notifying impacted users and stakeholders, alerting the security team, and conducting an investigation into the cause of infection. 

By developing strong incident response procedures ahead of time, organizations can proactively mitigate the damage caused by security incidents and ensure their systems remain secure. 

3. Use an effective password policy

Creating an effective password policy within an organization can help protect vital data and sensitive information. Having an adequate password length and using a wide variety of characters will make systems and accounts more secure from potential hackers or malicious attacks. 

It is best to encourage staff to keep their passwords updated on a frequent basis, such as every 90 days. This ensures that the passwords are not stored for long periods of time, making it easier for hackers and other malicious actors to break into a system if they were to get ahold of an old password. 

An effective password policy should be reminder enough for staff members to prioritize the security of their accounts by frequently changing them with stronger combinations. 

4. Restrict email attachments 

Protecting your organization’s valuable data is a top priority and one of the most effective ways to do that is by blocking or restricting email attachments. 

Unauthorized programs, employee negligence or malicious intent could potentially lead to spread viruses and the loss of confidential company data, so it is important to protect your business from this risk. Restricting the type of email attachments that can be received by your organization is an effective way to reduce this risk; however, it requires a comprehensive plan that covers all potential loopholes. 

Additionally, it is important to provide employees with regular training on data protection best practices and ways to spot suspicious files attached in emails. Doing this will help ensure that your company data remains safe and secure. 

5. Educate workers on cybersecurity

Ensuring cybersecurity within the workplace is a team effort. Educating workers on the most up-to-date precautions and practices is necessary to ensure everyone’s safety and security. 

Companies should take an extra step by providing educational materials that are clear, concise, and easy to understand while emphasizing the importance of vigilance. They should also have policies in place to encourage secure practices, from routine password changes to making sure users don’t leave their devices unlocked when away from their desks for any length of time. 

It’s important to cultivate a culture where employees feel comfortable speaking up if they see anything suspicious or out-of-the-ordinary. Make sure your workers know how to contact the IT support desk efficiently and quickly whenever there is a query or suspicion. This can go a long way towards building organizational trust in process and procedures which should ultimately help protect companies against cyber threats. 

6. BYOD (bring your own device)

Having a BYOD policy in your workplace makes it easier for team members to use what works best for them, be more productive, and bring their best creative ideas to the table. Implementing basic security measures will help keep your business secure and keep data private without compromising day-to-day workflow. 

Depending on the device type and usage, you may want to establish a set of standards ensuring minimum parental control settings, antivirus protection and firewall enabled where appropriate. These small steps can go a long way in keeping your network safe while still allowing remote workers with flexible options. 

7. Use a global talent solution, such as an AOR or EOR

At People2.0, we offer global talent solutions, such as employer of record (EOR) and agent of record (AOR) services, to help you attract, secure, and retain the best global talent without having to take on the risks and costs associated with global moves. 

These services allow companies to focus on building their teams while relying on our experts to handle compliance issues, employment liabilities, and data risks. By providing these global talent solutions, we help make sure that your organization runs smoothly and securely in a global market. 

Ready to talk talent? Contact us today!

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