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Business On Lockdown? These Tips Can Help You Reduce Your Risk!

If you run your own business, this is likely a very trying time for you. You are faced with the challenges that come with engaging customers when consumer confidence is at an all-time low. You’re also trying to engage and motivate a team full of people going through their own coronavirus crises. What’s more, you also need to grapple with the new set of risks posed to your business. 

If your business is on lockdown, all your employees are working remotely. And that brings its own set of vulnerabilities. From the potential lost productivity caused by adjusting to remote working to cybercrime threats, you’ll need to adopt a whole new approach to risk management. Fortunately, the tools are available to protect your business from all kinds of risks. All it takes is a little knowhow and a proactive attitude to prevent problems before they happen. Here are some ways in which your business can do this…

Protect your contracts

Contracts are the lifeblood of your company. They set your clienteles’ commitment to you in stone, allowing you a mode of recourse if they don’t make good on their commitments to you. This is especially pertinent for SaaS services or other businesses that use a subscription model. 

Without contracts, you have no way of ensuring that they pay their bills when they’re due and your liquidity may suffer. Moreover, your contracts give your employees the peace of mind and assurance that they need, demonstrating your commitment to them at a time when it’s more important than ever. 

Like all of your digital and data infrastructure, your contracts need to be protected. With the right software, a contract management system can be established and shared with remote employees so that your business doesn’t miss a beat. Protect your business by protecting your contracts.

Adopt a proactive approach to malware

Sad though it may be, there are cyber criminals out there right now looking for ways to turn the pandemic to their advantage. Don’t make the mistake of assuming that your business is small enough to escape their attention. Over 70% of ransomware attacks target small businesses. 

Your business premises may have a robust security infrastructure designed to repel malware attacks. But when your employees are working remotely, their home networks can be subject to new vulnerabilities. As such, it’s up to you to take steps to protect employees’ home networks from malware attacks. Everything from teaching your employees how to spot phishing emails to using cloud based platforms and a VPN can help you to protect your remote teams from ransomware. If you don’t feel confident implementing these steps on your own, you may be able to collaborate with a Managed Service Provider who can implement security provisions remotely to ensure a watertight setup for as long as you need your team to work from home.

Use employee recognition platforms to keep your team motivated

Digital security isn’t the only risk your business faces. It also faces the risk of reduced productivity. Cut off from the physical workspace, remote employees can feel isolated and lacking in motivation. While there’s evidence to suggest that remote employees can actually be more productive, it’s up to you to ensure that each employee makes the most of their working day. 

Using employee recognition platforms can help your employees feel better connected to you, and one another, allowing you to recognize and celebrate their achievements. There are numerous employee recognition platforms on the market. Facebook even has its own, called Workplace. These look and interface just like social media platforms. However, the key difference is that they can be invaluable in keeping your employees on task rather than distracting them. Through these platforms managers can recognize the efforts and employees and team members can provide peer-recognition. Rewards and bonuses can also be administered through these platforms. Here are some of the best of 2020

Lockdown your website with a security audit

Finally, your website’s security is of paramount importance when it comes to protecting your customers’ data. A lapse in website security could deal a crippling blow to your business’ reputation. Your website security starts with the right web hosting. However, whatever assurances they provide you with, it’s a good idea to keep an eye out for potential vulnerabilities. 

These may include security misconfigurations, insecure direct object references, cross-site scripting (XSS), SQL injections and cross-site request forgeries. 

A proactive approach to your digital and HR infrastructures can insulate your operations from risk while you’re under lockdown, ensuring that you continue to deliver the same quality your customers expect from you. 


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