Is your business still operating remotely? Do your employees continue to report to work from home? Whether it be a result of the pandemic or if remote work was commonplace prior, your business likely employs a modest number of remote employees. Believe it or not, the number of employees who transitioned to remote work jumped by nearly 175% between the years 2005 and 2018. Recent pandemic restrictions have likely increased that rate as well, as at the start of the pandemic businesses made remote work a necessity for the safety of their employees. Not only does remote work provide the safety necessary for employees, but it can also lower a businesses’ overhead costs and decrease their environmental impact.
As some businesses may have come to realize over the past year, though, enabling remote employees can pose some challenges. Managers may have a harder time properly engaging and overlooking their staff throughout their stays at home. Employees may also have a harder time staying engaged with their work or collaborating with other teams spread out through the business. Throughout all levels of an organization, some form of isolation likely exists as a result of long-term remote work as well.
Perhaps one of the largest risks associated with remote work for organizations is the seemingly endless amount of potential liability. Some examples include remote employees injuring themselves while out of the office, data breaches as a result of insecure networks of remote employees, damaged or stolen hardware, and much more. It’s necessary for organizations employing remote workers to consider adjusting their insurance policies to cover such widespread liability. Similarly to insurance for liability, workers’ compensation is just as important for these remote employees. All of the workers’ compensation benefits that are allotted for in-office employees are shared by remote employees. Meaning if any of an organizations’ remote employees become injured or sick during work, their organization’s compensation policy should still cover him or her.
Though the liability with remote employees may seem troubling, the scariest aspect of remote work for any organization is the threat of a cyberattack or breach. In order to ensure the safety of your organization’s data, it’s imperative to utilize an encrypted virtual private network, or VPN for all employees. It doesn’t stop there, though. Exceptional firewall and antivirus software are also huge elements of a secure network. If your organization still continues to struggle with online security, there are also cyber liability insurance policies that are meant to help cover these risks. First -party and third-party cyber liability policies protect your organization from breaches related to your own data as well as the data of your clients.
While there are countless benefits to remote work, it is always important to consider the inherent risks that can come from enabling remote employees. For more information on how to mitigate some of the risks associated to remote work, be sure to review the infographic accompanied with this post. Courtesy of B2Z Insurance