From payroll processing and benefit rollouts to employee engagement and onboarding frameworks, the HR platforms of today provide an amazing array of tools and features for businesses looking to get the most out of their workforce. However, this exciting new tech can come with its downsides if the right security measures aren’t taken.
With 20203 posting a staggering 41% increase in employee data breaches, this worrying trend shows that HR data is more vulnerable than ever before. And while data breaches of any kind are going to be hugely damaging to businesses, HR data poses a particular problem given how sensitive it is.
For individuals, this leaked data could lead to things like identity theft, financial fraud, and even discrimination based on health information being leaked. And for businesses, HR data breaches will undoubtedly translate into financial losses, reputational damage, and even potential legal battles that could lead to wasted time, energy, and resources.
But it’s not all doom and gloom. HiBob, a leading HR tech company, knows a thing or two about protecting sensitive employee data. By analyzing their gold standard approach to cybersecurity and how they minimize the likelihood of a HiBob data breach, we can take away a 5-point plan that businesses and HR teams can use to fortify their systems against these escalating threats.
The Common Culprits Behind Employee Data Breaches
Okay, so to get started, we’re going to pull back the curtain on some of the common culprits behind employee data breaches. In doing so, we can highlight what the vulnerabilities are, where the dangers come from, and then we’ll show you just exactly how HiBob mitigates these risks.
- Phishing Attacks: Phishing attacks typically come in the form of deceptive emails or messages that are intended to deceive or lure employees into giving away sensitive information. Sometimes these attacks also attempt to convince employees into opening up to restricted systems, or giving away password information. These attacks only get more sophisticated by the year, which is making these threats even more insidious.
- Ransomware Attacks: This is the type of malware that infiltrates an organization’s system and then encrypts all of the data so that it becomes unreadable. From there, the hackers hold the data hostage until the ransom is paid. The fallout from these attacks can be devastating, particularly when companies need access to ransomed data in order to run their business operations (such as HR data).
- Insider Threats: While often overlooked, the majority of data breaches actually originate from inside effects. In many ways, these events can be just as damaging as external attacks – and the problem is that they come in many forms. Disgruntled employees, those with malicious intent, or even well-meaning employees who simply have a careless moment and inadvertently expose data.
- Third-Party Vulnerabilities: Given how interconnected business software is these days, most HR platforms are integrated with a variety of other tools to help expand features and give more functionality. However, if third party vendors have weak security practices, then they can become a gateway for attackers to infiltrate systems.
- Weak Passwords and Authentication: Things like poor password hygiene and inadequate authentication can point HR data at risk. Employees that reuse passwords or choose easy combinations create a significant vulnerability through brute force attacks.
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HiBob’s 5-Point Plan: A Fortress for Your Workforce Data
All right, now that we’ve done the legwork and taken a look at some of the main vulnerabilities within employee data, here is a five-point plan based on HiBob’s industry-leading cyber security practices.
Robust Access Controls
HiBob uses role based access controls (RBAC) to ensure that only the people who absolutely need to access information can do so. For example, if there’s no reason why a software engineer will need access to sensitive employee payroll information, then they will not have access to it. This allows more fine tuned control over specific data fields and actions, minimizing the risk of accidental data leaks and lowering the overall risk profiles.
Multi-Layered Encryption
As you might expect, encryption is a fundamental component of HiBob’s defenses. Teo protect employee data, HiBob uses robust encryption algorithms (AES-256), both in transit and at rest. In simple times, this means that if data is intercepted, or systems are somehow infiltrated by unauthorized individuals, then it will remain unreadable without the corresponding encryption keys.
Continuous Monitoring and Threat Detection
HiBob has a dedicated team that works tirelessly around the clock to constantly monitor systems for any signs of unusual activity or potential threats that could be putting employee data at risk. This real-time threat detection means that teams can identify and neutralize threats before they cause significant damage.
Proactive Vulnerability Management
When it comes to cybersecurity, there are two main approaches you can take. The first is being reactive. You sit and pray that nothing happens to your data – and when it does, you react quickly and try to put out the fires as best as possible. On the other hand, you can take a more proactive approach, which means that you constantly try and find vulnerabilities yourself and try to plug any holes before anybody else gets the chance to take advantage of them.
Unsurprisingly, HiBob is committed to staying one step ahead of the cyber criminals by conducting regular vulnerability scans and penetration testing to help identify and address weaknesses – way before they can be exploited. To help double down on this, HiBob frequently runs a bug bouncy program which encourages security researchers to responsibly disclose vulnerabilities and help highlight any system frailties that may exist.
Security Awareness and Training
Last but not least, HiBob understands and recognises that employees are more often than not the weakest link in the cybersecurity chain. Now, this is not a slight on HiBob’s personnel, but it is, in fact, a realization of a somewhat uncomfortable truth. Employers are human beings. They get tired. They make mistakes. Sometimes they act on impulse.
Just one lapse of concentration or one idle moment can spell disaster for HiBob and its employee data. To help mitigate this risk, HiBob invests heavily in security awareness and training programs for all of its employees. For example, cyber security training is a key component of all onboarding procedures, regardless of position. Moreover, each year employees must take an annual refresher in cybersecurity best practices. That way, they are able to identify what the current threats are and understand how they should act in such situations.
Final Word
HR technology is getting more sophisticated by the day. However, so too are the hackers and bad actors that are trying to get access to these very systems. The good news is that you don’t have to forgo using these amazing tools if you want to ensure that your data is safe. Instead, you can follow this five-point plan that has been inspired by HiBobs stellar cybersecurity practies over recent years.
By prioritizing data security in such a way, you’re not only demonstrating that you are taking these threats seriously, but you will also signal that you are a responsible steward of the sensitive information entrusted to you. Ultimately, this will safeguard your organization’s reputation, and its bottom line.