For businesses small and large, there are few things more important than network security. With the incessant threat of cyberattacks and risk of data loss, no company can be too careful when it comes to protecting its information.
Recently, the United States has seen a drastic surge in cybercrime, with the number of attacks against small businesses increasing by nearly 50 percent in 2021. This rise in cyberattacks has cost companies billions of dollars, and the trend doesn’t seem to be slowing down. To help mitigate these threats, businesses should have solid IT security policies in place.
What is an IT Security Policy?
Understanding IT security policies is the first step in protecting your business. Security policies are a set of guidelines that direct employees on how to maintain and secure company information. These policies can include things like password hygiene and complexity, data and device handling procedures, and breach response, and should be tailored to fit the specific needs of your business.
These security policies should also have clear objectives. Three categories that those objectives fall into include confidentiality, availability of assets, and integrity.
What Does an IT Security Policy Normally Consist Of?
While there are key components that should be included in every IT security policy, each policy must reflect the unique elements of each company and industry that the company is in. An IT security policy should include the following elements:
Objectives
First, your policy should include a statement on the importance of network security. This will let employees know that you take the issue seriously and that they need to as well.
Procedures
Next, you’ll want to list out specific procedures that employees need to follow in order to maintain security. For example, you may require employees to change their passwords every 90 days or encrypt sensitive data before sending it via email.
Responsibilities for Compliance and Actions for Noncompliance
Finally, it is important to include regulations related to the organization's industry. You’ll want to include consequences for violating the policy. This will help ensure that employees take the policy seriously and understand the importance of following its guidelines.
The Benefits of IT Security Policies
Numerous benefits come along with implementing an IT security policy in your business.
- Perhaps the most obvious benefit is that IT security policies help to protect your company’s systems and data. By having clear guidelines in place for employees, you can help to ensure that sensitive information is not put at risk.
- A security policy can also help to boost productivity within your company. When employees know exactly what is expected of them, they can act more confidently and effectively.
- Security policies can also work to prevent downtime, as they help avoid problems before they occur.
Key Factors to Keep In Mind
It’s important to recognize that a security policy is not a one-size-fits-all solution. To be effective, they need to be created with the specific needs of your business in mind. When creating an IT security policy, there are a few key factors that you should keep in mind:
1. Company Size
The policies you create for a small business will obviously differ from those that you may encounter at a Fortune 500 corporation or government agency.
2. Relevant Industry
The needs of a healthcare company will differ from those of a retail company. Common examples of industry-specific regulations include HIPAA or the PCI Data Security Standard.
3. Types of Data
Policies for companies that collect and store customer data will have more complex requirements, and with that penalties, than those of a company that doesn’t.
4. Your Company’s Risk Tolerance
Some companies may be willing to take more risks than others when it comes to their security choices, but make sure to weigh the pros and cons appropriately - don't gamble needlessly with your organizations future.
5. Your Budget
The amount of money you’re willing to spend on IT security will play a role in the policies you create - there are choices out there for any budget, or no budget at all!
Focus on Safety Today
Whether you are a small startup or a multi-million dollar enterprise, your business needs IT security policies. A business’s security policy will help improve its security posture by raising security awareness among employees and customers, and play a role in the direction of the company for better or worse.
