Data shows SMBs recognize the likelihood of cyber threats but few have translated realization into action
Dashlane, the leading credential and digital identity management company, released “The Future of Secure Work for People + Organizations” report, which looks at how small and medium-sized businesses (SMBs) in the private and public sectors view cybersecurity and password management as they embrace the future of work. While 83% of respondents agreed that they have seen an increased awareness of cybersecurity in their organization, only 36% have adopted new security policies.
“The Future of Security in the Hybrid Workplace”
To assess cybersecurity sentiments and practices, Dashlane surveyed more than 600 employees and managers and over 300 IT decision makers (leaders) at SMBs across multiple industries — including finance, banking, education and government — and conducted interviews with a select group of IT leaders. Building on last year’s report, “The Future of Security in the Hybrid Workplace,” that focused on employee behaviors and attitudes in the modern workplace, this year’s report broadened the lens to people and organizations. The goal was to understand and collect insights into how the continued hybrid work evolution and growth is influencing security awareness and culture. A key insight found that for most SMBs, there is an increased level of security awareness among employees as well as leaders.
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Additional Key findings:
Cybersecurity awareness increased for organizations, but only some took action
- While there is increased awareness in cybersecurity — 83% of all survey participants realize that stakes are high in the digital era — only a small group of organizations have translated realization into action.
- Overall, 38% of SMBs increased usage of their existing password manager, 37% increased cybersecurity training, 36% adopted new security policies, and 23% said their organizations started using a password manager.
Leaders and employees view their organization’s cybersecurity posture differently
- 65% of leaders reported increased usage in their existing password manager, vs. only 25% of employees
- 32% of leaders said their organizations started using a password manager, vs. 20% of worker and managers
- 31% of leaders said their organizations adopted new security policies, vs. 43% of employees
- 23% of leaders noted increased cybersecurity training, vs. 40% of employees
Remote Work Led to an Increase in Password Management but Small Business Need to Implement More Security Measures
- Increased password manager usage was the top change that organizations made as a result of remote work, with 38% of employees, managers, and leaders identifying this shift.
- Employees are not confident their co-workers use password managers widely. Although 41% of surveyed organizations require a password manager, only one-fifth of employees believe the adoption rate among their co-workers is 95-100%.
- 41% of organizations represented in Dashlane’s survey require a password manager for everyone, with another 18% adopting it for some, and 13% offering it as an option.
- The cohort requiring password management the most is employers with 301-400 workers, followed by those with 401-500 workers.
- About half of employees believe their organization needs a password manager; among leaders, a resounding 97% feel the same.
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“Our research shows awareness of cybersecurity threats among leaders has increased substantially, but organizations need help and education to make the right decisions when it comes to security. We’re seeing awareness increase in a world that has employees going remote, but this awareness isn’t really being put into action,” said JD Sherman, CEO of Dashlane. “In the case of SMBs, there is no full-time, dedicated IT person, let alone a security team — in these instances, a password manager checks the boxes on reliability and affordability, and offers a great first line of defense.”
Trust in the product and understanding of how to use a password manager were the top two reasons employees are not utilizing the tool, the report found. For SMBs who have overcome the barriers to password management adoption, the outcomes are positive. Among Dashlane’s survey participants, both employees and leaders in workplaces that require a password manager believe their organization has a lower risk of being hacked or breached. 90% of leaders across SMBs believe that, if using a password manager, their organization is “not at risk” for being hacked or breached.
Based on Dashlane’s observations of cybersecurity trends in the past year and findings from the survey, the password management company believes that more organizations will begin to prioritize cybersecurity and connect it to their business goals, trust will play a greater role in the digital tools organizations select to secure their businesses and workplace cybersecurity will become a personal concern for more employees.
Dashlane’s newly launched brand campaign, Dashlane for SMBs, increases awareness on the importance of making security simple for this community by providing the education and tools needed to keep data secure. With the Password Playbook for Small Businesses, small-business leaders can learn how to manage passwords to secure company and employee accounts, and protect sensitive data — all while improving productivity.
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