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Essential Tips For Protecting Your Business Data

Essential Tips For Protecting Your Business Data

Large corporations have invested time and resources in hiring the best professionals available in the IT area to provide their knowledge in data protection. But what is the big deal with securing our digital information that it has become an entire business on its own?

    An old saying goes, time is money. These days, we should rephrase it along the lines of information is money. No one could ever doubt how valuable data acquisition is today and how important it is to create your data bank of reliable sources, from ultra-competitive brands like Apple or Samsung, to whom suffering an information leak would translate in the loss of thousands or millions of dollars out on patent royalties, to small businesses that can’t risk their investments.

    1. Identify the sources of threat

    By saying business data, we don’t only refer to written information that came out of the investigation, but also to financial data, human resources data and so on.

    Potential threats to your business are labeled as:

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    1. Unintended disclosure: Also commonly known as “leaks.” This is prone to happen when non-disclosure terms are not adequately established, and people start sharing semi-confidential content through social media (most commonly Facebook, but can be by fax, mail, letters or phone calls).

    2. Hacking and Malware: From DoS attacks to wiping out your data, hackers can do an unprecedented amount of damage depending on their intent. Cyber-kidnapping is one of the latest trends on this behalf, where hackers encrypt your hard drive and demand a certain (high) amount of money to decrypt it – otherwise, you will end up losing your data.

    Corporations geared towards software testing and development, banks, manufacturers and health-related companies are the primary targets of hackers.

    3. Lost/Stolen Mobile Devices: Tablets, phones, flash drives, CDs, laptops and such, which contain sensitive information about your company.

    4. Intended disclosure: Also can be labeled as “spies.” People who, after securing a deal with your competitors, leak vital data from your business to them.

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    2. Set hierarchy for accessing data

    Not every employee, especially newcomers to your organization, should have access to sensitive data. That’s the first step towards a secure organization regarding its IT policies.

      Full-access or master login to your servers should be highly restricted, even for your IT managers, as you never know when your data can get leaked and who’s to blame in those circumstances.

      3. Data encryption: A must-have

      Another choice to make is to acquire data encryption software for your servers, computers and laptops alike. This decision has two aspects to consider:

      1. Does your company have a potential risk of hacker’s attacks?: The answer to this question depends on the amount of staff you have, the way your business ranks in both local and international market, and the area where you happen to work. A creative artist won’t suffer the same level of harassment as banks or law firms, for example.

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      2. Do you require portability? For some brands, traveling is as important as the air they breathe, so having your laptops encrypted is a must. Why? Because, depending on your software, you can make it nearly impossible to decrypt data without the user’s password. This is crucial to enact as a countermeasure against stealing sensitive information.

      4. Stronger passwords for the most reliable protection

      Passwords are under constant attacks from hackers, who would try every possible way to crack it.That’s the reason for setting stronger passwords at your workplace.

        Make it a requirement for your staff to set passwords with more than eight characters, including the following items:

        • Up and lowercase letters
        • Special characters like _ # ! or / (better if done twice through the password)
        • Numbers

        Don’t use the same password for all sensitive data if you are at the top of the hierarchy. Passwords should be changed quarterly to ensure extra protection.

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        5. Keep your software up-to-date

        Regardless of the operating system you use, keeping your software in line with the latest updates is an easy yet effective way of protecting your business data, since malware evolves constantly, and these updates ensure that potential security vulnerabilities get patched up.

        6. Secure access to your network

        As a countermeasure to prevent outsiders from accessing your network, you should set your WiFi SSID hidden and encrypted, so no one can use your Internet connection unless you allow them to do it. Large companies use their VPNs to provide secure access, even when working remotely.

        Featured photo credit: Pixabay via pexels.com

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        Last Updated on January 6, 2021

        14 Ideas on How to Measure Productivity to Make Progress

        14 Ideas on How to Measure Productivity to Make Progress

        Everyone has heard the term productivity, and people talk about it in terms of how high it is and how to improve it. But fewer know how to measure productivity, or even what exactly we are talking about when using the term “productivity.”

        In its simplest form, the productivity formula looks like this: Output ÷ Input = Productivity.

        For example, you have two salespeople each making 10 calls to customers per week. The first one averages 2 sales per week and the second one averages 3 sales per week. By plugging in the numbers we get the following productivity levels for each sales person.

        For salesperson one, the output is 2 sales and the input is 10 sales: 2 ÷ 10 = .2 or 20% productivity. For salesperson two, the output is 3 sales and the input is 10 sales: 3 ÷ 10 = .3 or 30% productivity.

        Knowing how to measure and interpret productivity is an invaluable asset for any manager or business owner in today’s world. As an example, in the above scenario, salesperson #1 is clearly not doing as well as salesperson #2.

        Knowing this information we can now better determine what course of action to take with salesperson #1.

        Some possible outcomes might be to require more in-house training for that salesperson, or to have them accompany the more productive salesperson to learn a better technique. It might be that salesperson #1 just isn’t suited for sales and would do a better job in a different position.

        How to Measure Productivity With Management Techniques

        Knowing how to measure productivity allows you to fine tune your business by minimizing costs and maximizing profits:

        1. Identify Long and Short-Term Goals

        Having a good understanding of what you (or your company’s) goals are is key to measuring productivity.

        For example, if your company’s goal is to maximize market share, you’ll want to measure your team’s productivity by their ability to acquire new customers, not necessarily on actual sales made.

        2. Break Down Goals Into Smaller Weekly Objectives

        Your long-term goal might be to get 1,000 new customers in a year. That’s going to be 20 new customers per week. If you have 5 people on your team, then each one needs to bring in 4 new customers per week.

        Now that you’ve broken it down, you can track each person’s productivity week-by-week just by plugging in the numbers:

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        Productivity = number of new customers ÷ number of sales calls made

        3. Create a System

        Have you ever noticed that whenever you walk into a McDonald’s, the French fry machine is always to your left? 

        This is because McDonald’s created a system. They have determined that the most efficient way to set up a kitchen is to always have the French fry machine on the left when you walk in.

        You can do the same thing and just adapt it to your business.

        Let’s say that you know that your most productive salespeople are making the most sales between the hours of 3 and 7 pm. If the other salespeople are working from 9 am to 4 pm, you can potentially increase productivity through something as simple as adjusting the workday.

        Knowing how to measure productivity allows you to set up, monitor, and fine tune systems to maximize output.

        4. Evaluate, Evaluate, Evaluate!

        We’ve already touched on using these productivity numbers to evaluate and monitor your employees, but don’t forget to evaluate yourself using these same measurements.

        If you have set up a system to track and measure employees’ performance, but you’re still not meeting goals, it may be time to look at your management style. After all, your management is a big part of the input side of our equation.

        Are you more of a carrot or a stick type of manager? Maybe you can try being more of the opposite type to see if that changes productivity. Are you managing your employees as a group? Perhaps taking a more one-on-one approach would be a better way to utilize each individual’s strengths and weaknesses.

        Just remember that you and your management style contribute directly to your employees’ productivity.

        5. Use a Ratings Scale

        Having clear and concise objectives for individual employees is a crucial part of any attempt to increase workplace productivity. Once you have set the goals or objectives, it’s important that your employees are given regular feedback regarding their progress.

        Using a ratings scale is a good way to provide a standardized visual representation of progress. Using a scale of 1-5 or 1-10 is a good way to give clear and concise feedback on an individual basis.

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        It’s also a good way to track long-term progress and growth in areas that need improvement.

        6. Hire “Mystery Shoppers”

        This is especially helpful in retail operations where customer service is critical. A mystery shopper can give feedback based on what a typical customer is likely to experience.

        You can hire your own shopper, or there are firms that will provide them for you. No matter which route you choose, it’s important that the mystery shoppers have a standardized checklist for their evaluation.

        You can request evaluations for your employees friendliness, how long it took to greet the shopper, employees’ knowledge of the products or services, and just about anything else that’s important to a retail operation.

        7. Offer Feedback Forms

        Using a feedback form is a great way to get direct input from existing customers. There are just a couple of things to keep in mind when using feedback forms.

        First, keep the form short, 2-3 questions max with a space for any additional comments. Asking people to fill out a long form with lots of questions will significantly reduce the amount of information you receive.

        Secondly, be aware that customers are much more likely to submit feedback forms when they are unhappy or have a complaint than when they are satisfied.

        You can offset this tendency by asking everyone to take the survey at the end of their interaction. This will increase compliance and give you a broader range of customer experiences, which will help as you’re learning how to measure productivity.

        8. Track Cost Effectiveness

        This is a great metric to have, especially if your employees have some discretion over their budgets. You can track how much each person spends and how they spend it against their productivity.

        Again, this one is easy to plug into the equation: Productivity = amount of money brought in ÷ amount of money spent.

        Having this information is very useful in forecasting expenses and estimating budgets.

        9. Use Self-Evaluations

        Asking your staff to do self evaluations can be a win-win for everyone. Studies have shown that when employees feel that they are involved and their input is taken seriously, morale improves. And as we all know, high employee morale translates into higher productivity.

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        Using self-evaluations is also a good way to make sure that the employees and employers goals are in alignment.

        10. Monitor Time Management

        This is the number one killer of productivity in the workplace. Time spent browsing the internet, playing games, checking email, and making personal calls all contribute to lower productivity[1].

        Time Management Tips to Improve Productivity

          The trick is to limit these activities without becoming overbearing and affecting morale. Studies have shown that most people will adhere to rules that they feel are fair and applied to everyone equally.

          While ideally, we may think that none of these activities should be done on company time, employees will almost certainly have a different opinion. From a productivity standpoint, it is best to have policies and rules that are seen as fair to both sides as you’re learning how to measure productivity.

          11. Analyze New Customer Acquisition

          We’ve all heard the phrase that “It’s more expensive to get a new customer than it is to keep an existing one.” And while that is very true, in order for your business to keep growing, you will need to continually add new customers.

          Knowing how to measure productivity via new customer acquisition will make sure that your marketing dollars are being spent in the most efficient way possible. This is another metric that’s easy to plug into the formula: Productivity = number of new customers ÷ amount of money spent to acquire those customers.

          For example, if you run any kind of advertising campaign, you can compare results and base your future spending accordingly.

          Let’s say that your total advertising budget is $3,000. You put $2,000 into television ads, $700 into radio ads, and $300 into print ads. When you track the results, you find that your television ad produced 50 new customers, your radio ad produced 15 new customers, and your print ad produced 9 new customers.

          Let’s plug those numbers into our equation. Television produced 50 new customers at a cost of $2,000 (50 ÷ 2000 = .025, or a productivity rate of 2.5%). The radio ads produced 15 new customers and cost $700 (15 ÷ 700 = .022, or a 2.2% productivity rate). Print ads brought in 9 new customers and cost $300 (9 ÷ 300 = .03, or a 3% return on productivity).

          From this analysis, it is clear that you would be getting the biggest bang for your advertising dollar using print ads.

          12. Utilize Peer Feedback

          This is especially useful when people who work in teams or groups. While self-assessments can be very useful, the average person is notoriously bad at assessing their own abilities.

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          Just ask a room full of people how many consider themselves to be an above average driver and you’ll see 70% of the hands go up[2]! Now we clearly know that in reality about 25% of drivers are below average, 25% are above average, and 50% are average.

          Are all these people lying? No, they just don’t have an accurate assessment of their own abilities.

          It’s the same in the workplace. Using peer feedback will often provide a more accurate assessment of a person’s ability than a self-assessment would.

          13. Encourage Innovation and Don’t Penalize Failure

          When it comes to productivity, encouraging employee input and adopting their ideas can be a great way to boost productivity. Just make sure that any changes you adopt translate into higher productivity.

          Let’s say that someone comes to you requesting an entertainment budget so that they can take potential customers golfing or out to dinner. By utilizing simple productivity metrics, you can easily produce a cost benefit analysis and either expand the program to the rest of the sales team, or terminate it completely.

          Either way, you have gained valuable knowledge and boosted morale by including employees in the decision-making process.

          14. Use an External Evaluator

          Using an external evaluator is the pinnacle of objective evaluations. Firms that provide professional evaluations use highly trained personnel that even specialize in specific industries.

          They will design a complete analysis of your business’ productivity level. In their final report, they will offer suggestions and recommendations on how to improve productivity.

          While the benefits of a professional evaluation are many, their costs make them prohibitive for most businesses.

          Final Thoughts

          These are just a few of the things you can do when learning how to measure productivity. Some may work for your particular situation, and some may not.

          The most important thing to remember when deciding how to track productivity is to choose a method consistent with your goals. Once you’ve decided on that, it’s just a matter of continuously monitoring your progress, making minor adjustments, and analyzing the results of those adjustments.

          The business world is changing fast, and having the right tools to track and monitor your productivity can give you the edge over your competition.

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          Featured photo credit: William Iven via unsplash.com

          Reference

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