U.S. companies lose an estimated $1 trillion per year in costs associated with voluntary turnover. When an employee quits, the company has to spend resources on recruiting and training a replacement. But that cost is even greater when the employee leaves with valuable data.
Consider some of the proprietary information you’d hate to let fall into a competitor’s hands:
- customer lists
- source code
- financial documents
- pitch decks
- sales tools
- specialized templates
- marketing plans
- negotiating methods
- pricing information
- important files
Most businesses focus on securing their data from outside threats. It’s no surprise: The average cost of a data breach in 2017 was $3.62 million. But has your company considered the threat of an insider stealing data?
- 60% of departing employees admit to taking company data
- 66% of those employees say they did it to help them in a new job, meaning a competitor likely has access
- 72% of CEOs admit they’ve taken intellectual property from a former employer
- In 70% of IP theft cases, damage is more than $100,000
- In 50% of IP theft cases, damage is more than $1 million
It’s imperative for IT departments to maintain control of company data from every angle. VMware Workspace ONE Trust Network provides a modern, comprehensive, and predictive approach to securing employees, applications, endpoints, and networks. Using a framework of trust and verification, IT teams can secure the components across their ecosystem that make up the evolving digital workspace. Through a software development kit (SDK), IT can control and restrict a user’s ability to remove content from company servers, whether on company-provided or bring-your-own devices — keeping your intellectual property safe from employees and competitors.
Zero Trust Security offers IT teams a variety of tools that allow them to protect company data by:
- Harnessing user behavior, device context, and third-party security tools for proactive, intelligent risk assessment and policy management
- Leveraging encryption, data loss prevention (DLP) controls and app virtualization to best protect sensitive information
- Automating remediation through identity management, network traffic and device compliance
In addition to technology, smart policies help companies maintain control of their data. DLP policies help IT teams jump into action when alerted to a threat such as an employee giving notice. Implement an employee offboarding strategy that includes IT as well as HR so that all affected parties are in the know when an employee confirms their departure.
If you’re ready to learn more about how your company can use one tool to protect its assets from many threats, including employees who quit, download the e-book 8 Critical Capabilities for Digital Workspace Security.