By almost every metric, the world is less stable and more disruptive than it was just a few years ago. We face a multifaceted portfolio of intersecting challenges and threat vectors, both domestic and international, that directly threaten the security of nations, businesses and individuals.
Due to the increasing volume of real-time threats, businesses and corporate leaders responsible for ensuring that management, employees, operations, assets, and customers are protected from such disruptions must exercise extreme caution. there is. Its protection depends in part on our ability to provide comprehensive and effective duty of care services regarding safety, security, health and travel.
Survey shows executives perceive higher risk
In this multi-layered threat landscape, businesses and their leaders must make risk mitigation a top priority. Global Guardian’s recent report on security threats and corporate duty of care found that senior-level security and HR professionals at large companies are more aware of growing domestic and international threats to their companies and employees. I have found compelling evidence.
Two-thirds of enterprise leaders surveyed report an increase in the number of security threats facing their organizations compared to 2019, and most are primarily driven by new risks. In response, it says the organization has increased its security budget over the past year.
The COVID-19 pandemic is perhaps the most serious development companies have seen in recent memory. It has brought global corporate operations to a halt and accelerated workplace transformation with remote and hybrid work models. So it’s no surprise that nearly every security and HR professional told Global Guardian that their company had experienced a safety or security crisis as a result of his COVID-19.
The main challenge for businesses during the pandemic has undoubtedly been keeping employees and workplaces safe from COVID-19. However, companies have also had to consider the fact that many employees are no longer in the office and many are still working in remote or hybrid models. In other words, an employee who is outside the corporate network or corporate firewall, or using a personal device or his WiFi network for work, is a cybersecurity risk that many companies still lack the resources to address. is shown.
Cybersecurity takes center stage
Some of the most dangerous criminals today are those who hide behind computer screens. In 2021 alone, ransomware damages worldwide will reach $20 billion, a staggering 60-fold increase over 2015.
Corporate leaders are well aware of this fact. Security and HR professionals surveyed named cybersecurity as the threat of greatest concern to employee safety and well-being. As companies continue to face such threats to their operations, it is more important than ever to develop frameworks to protect corporate assets and train employees to avoid falling victim to cyberattacks. has become important.
But pandemics and rising cybercrime aren’t the only threat vectors businesses and organizations have had to contend with over the past three years. The increasing severity and impact of natural disasters and extreme weather events, both in the United States and abroad, cannot be measured in response to threats. Since 2020, wildfires have wreaked havoc in regions such as western North America and Australia, killing tens of thousands of people each year. Hurricanes and storms are becoming increasingly powerful and destructive from the American Gulf Coast to South Asia. Millions of people are at risk of starvation due to drought in East Africa and other arid regions. And scientists predict that rising sea levels will displace hundreds of millions of people in the coming decades.
Global unrest and natural disasters pose risks
Natural disasters are recognized as the most significant threat to businesses and employees, according to security and human resources experts. Additionally, about a third of businesses have experienced a safety or security crisis as a result of recent natural disasters. To mitigate this ever-present threat, businesses should develop contingency plans and risk management strategies that protect employees and assets when natural disasters affect businesses and traveling employees. is needed.
Over the past three years, geopolitical tensions and regional conflicts have emerged as major sources of disruption for globally operating companies and organizations. Nearly half of security and HR professionals then cite such incidents as their primary concern.
Europe is facing its biggest military conflict since World War II as Russia advances its attempts to annex Ukrainian territories. The war in Eastern Europe is wreaking havoc on transatlantic supply chains, especially in agriculture and energy. Many business leaders say conflict has already led to a safety or security crisis within their companies. Russia’s increasingly belligerent rhetoric over its use of nuclear weapons also creates additional uncertainty for companies with a European presence.
While the war between Russia and Ukraine shows no signs of slowing down, another regional conflict is brewing on the other side of the world. In a recent speech, Chinese President Xi Jinping reiterated that China will continue to pursue “unification” with Taiwan, including the use of force if necessary. This rhetoric, combined with China’s repeated incursions into Taiwan’s airspace, has put companies with interdependent business relationships in the region on high alert. A majority of business leaders are concerned about potential conflicts and believe their companies will experience some degree of business, economic or security risk if cross-strait relations deteriorate.
A Chinese invasion of Taiwan would disrupt the global economy and create historic global turmoil for companies operating in or sourcing materials and products from the Indo-Pacific region. The Indo-Pacific region is a hub for global trade and investment, especially in high-tech and advanced manufacturing industries, and a region no business can ignore.
make a plan and execute the plan
Businesses and corporate leaders have a high degree of confidence in their internal crisis plans, but significant gaps in preparedness remain. Nearly two-thirds of security and HR professionals surveyed report that they need additional help from their security provider in response to a recent crisis or incident their company has faced. Also, many companies do not regularly pressure test their risk management strategies and response plans. Only half of company leaders say their company brainstorms or simulates potential safety and security situations at least once a year. Such practices are a simple yet effective way to mitigate vulnerability and ensure complete threat preparedness. Additionally, less than half of business leaders believe most employees know how to respond to emergencies while traveling.
The proliferation of real-time threats continues to affect businesses and organizations here at home, as well as in remote locations abroad. Second, corporate leaders and other decision makers must be able to effectively manage risks and mitigate existing gaps in preparedness. Ignoring the urgency of these threats only exposes businesses, assets, employees, and customers to further risk.