Was your business one of the few who had some number of full-time remote employees before COVID-19? While a majority of full-time remote employees gained their status as a result of the pandemic, a great deal of remote employees have had their positions for some time. Between the thirteen years of 2005 and 2018, the number of full-time remote employees increased by 173%. Such an increase came as a result of organizations realizing the benefits that full-time remote employees bring, but as they’ve come to find out, there’s some inherent risk involved as well.
One of the major risks associated with remote work comes in the form of managerial challenges. With the inability to communicate face-to-face, many managers will have a harder time overseeing their staff. A work environment that is as collaborative as the office is nearly impossible to achieve while working remotely. Any employee that is required to work with employees from different departments may struggle compared to when they were in the office. Communication is an important step in business operations and working remotely full-time makes it challenging to communicate as effectively.
The risk doesn’t stop there, as full-time remote employees means there is going to be some additional liability that must be considered. Ranging anywhere from an employee injuring themselves at home on the clock, all the way down to stolen hardware, there are bound to be issues. Prior to enabling any degree of remote work, organizations should be prepared in regards to their insurance coverage. That’s not all, though. Workers compensation packages should also be honored for remote employees the same way they would if they were reporting to work physically.
Perhaps the riskiest aspect of remote employees for organizations comes in the form of cyberattacks. Any attack targeting these remote employees can put both organizational and client-based data in jeopardy. Keeping this data safe can be done through tools such as an encrypted virtual private network, firewall and antivirus software. Even with the most up-to-date defense, the possibility remains. When these attacks come, it’s the responsibility of any organization to come prepared with the right cyber liability insurance. These policies provide coverage for any organization that’s compromised (first party) and any of their clients that are compromised in the process as well (third-party).
While many remote employees report more professional freedom and reduced stress, there is still a plethora of risk involved. Finding ways to balance the good and the bad can be challenging, so for more information regarding these risks and how to address them, check out the infographic coupled alongside this post. Courtesy of B2Z Insurance