Cybercrime in Small Businesses: Protect Your Company with Employee Training

Cybercrime is on the rise.  As a small business owner, you may think you don’t need to worry.  Hackers go after the big companies, right?  Right. But they also go after the small businesses and maybe more than suspected.  The truth is those small businesses are more at risk than big companies for several reasons.  First, small business owners think they don’t need to worry about cybersecurity.  Second, small business owners seldom have a budget for cybersecurity. And finally, because small business owners don’t train their employees in good cyber hygiene, the employees are more likely to put the small business at risk.

So, What Is The Risk?

According to the National Cyber Security Alliance, 43% of cyber attacks target small businesses.  And 60% of small companies that are attacked go out of business within six months.  Don’t let your small business be a statistic.  There are steps you can take to protect your company and one of the most important is employee training.

Train Your Employees To Be Cyber Smart

Make cybersecurity part of your new employee onboarding process.  This shows your employee that you are aware of the risks and that you take them seriously and so should they.

Help Them See The Risk

One of the first things you can do is share the latest statistics.  Be honest with them.  Sharing something like,” We are a small business and we love our employees.  One of our biggest fears is that a data breach could put us out of business and our employees out of work. That’s why we take cybersecurity so seriously.”

As part of their training, give them an overview of cybersecurity risks and what they can do to protect themselves and the company. Here are a few tips you can share with your employees: 

Good Password Hygiene

Teach your employees good password habits.  Set up a process for how to create a strong password. Let them know that they should never use the same password twice and provide them with a password vault such as 1Password to help them save their passwords in a secure location. Make sure you use a company account that you can cut off any employee before firing.

Phishing scams

One of the most important things you can do is to train your employees on how to spot phishing emails.  This is especially important for anybody who has access to company credit cards or bank accounts, but it should be taught to everyone.  Some examples of language to look for include:

  • There’s been a problem with your account.
  • Please confirm your password.
  • Your invoice is past due.
  • Claim your free reward here.
  • It looks as though someone has accessed your account.

Train your employees to never click directly on a link that they are not 100% sure of.  Instead, go to the website and check to see if the email URL and the website URL match exactly.  You may even go as far as calling the company instead of logging in to confirm the email is legitimate.

Avoid Public Wifi

Since the onset of the pandemic, there has been a rise in cybersecurity. One of the reasons is that with remote work, employees are using public wifi.  These systems are easy to hack and allow hackers to access any computer attached to the wifi.  If your employees are working remotely, be sure to provide them with a secure hotspot.

We understand that trying to hire employees is harder now than ever before and that you are chomping at the bit to get your employee to work. But, don’t assume that good cyber hygiene is understood.  

The time you spend on cybersecurity training will pay off if it prevents just one data breach.

According to the Insurance Information Institute, the average cost of a data breach in 2019 was $148 per record.  That doesn’t take into account the indirect costs associated with a data breach, such as loss of customers, damage to your brand, and regulatory fines.  Employee training is one of the most cost-effective cybersecurity measures you can take to protect your small business.

Don’t wait until it’s too late.  Protect your small business from cybercrime by training your employees in good cybersecurity habits. It may be the best decision you ever make for your business.

Key Takeaways:

  • Cybercrime is on the rise and small businesses are at risk.
  • Small businesses are more at risk than big companies for several reasons.
  • One of the most important steps you can take to protect your small business is employee training.
  • Employee training is one of the most cost-effective cybersecurity measures.
  • Protect your small business from cybercrime by training your employees in good cybersecurity habits.  It may be the best decision you ever make for your business.

For more information on cybersecurity and employee training, check out Our Blog.

And for more tips on protecting your small business, Follow Us on LinkedIn.

If your company is in need of IT assistance, our team at Gryphon Consulting is here to help. Call us today at 301-789-1029.

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