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Organisations across the UAE are facing escalating threats due to a lack of risk awareness amongst employees, according to a new pan-EMEA study from Iron Mountain Incorporated (NYSE: IRM)[1]. As leadership teams worldwide focus on “future of work” strategic planning, the insights generated by this survey can help operations build long-term resilience in a hybrid working world.
According to the study, one in two employees (49%) claim to have made a “critical” error at work, and 23% have taken a risk which cost their organisation money.
Despite 81% of employees believing risk management is vital to protecting sensitive information, 42% still consider it worth taking risks at work – men more so than women (45% vs 41%).
“We all make mistakes, so risk - by definition - is an ever-present factor in business,” says Sue Trombley, Managing Director of Thought Leadership, Iron Mountain. “But today’s increasingly digital age is seeing increasing risks, which means risk management must constantly evolve. With new business models, hybrid working and the growing threat of cyberattack, it’s now more important than ever to manage employees and internal risks effectively in order to build resilience by design.”
More than a quarter (30%) of respondents say they have fallen victim to scams or phishing. Despite this, however, Iron Mountain’s research shows that employees are continuing to take security risks:
- 30% use the same password across multiple platforms
- 28% forget to lock their laptop when leaving their desk
- 17% keep their password on a note on their desk
Importantly, the risks are magnified by hybrid working, particularly when almost half (43%) of the employees admit to being less security conscious at home than at the office.
At a time when the average cost of a data breach has reached $4.24 million[2], these trends underline the importance of effective workplace training, so every employee rethinks their role in managing risk.
However, the findings also raise questions about the impact of current awareness efforts. Only 32% of the UAE employees surveyed said they had attended risk-training sessions in the last 18 months, with 22% saying they have never received such training and 13% having received it more than three years ago.
“An element of risk-taking can enable a business to innovate, but lack of awareness about potential everyday dangers can hinder long-term resilience,” adds Sue Trombley.
“We advise empowering every employee to become a risk ambassador by embedding risk awareness within your culture.”
To find out more about the survey results and join our virtual event where you can share your views on this debate, visit https://www.ironmountain.com/ae/resources/landing-pages/b/building-resilience-through-risk-management
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[1] Survey of 11,000 employees in 10 countries, conducted in September 2021 by One Poll.
[2] IBM Cost of a Data Breach Report, 2021
© Press Release 2021
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