Investing in Corporate Security Best Practice

Between 2010 and 2019, the investment in privacy and security companies jumped nearly sixfold from $1.7 billion to close to $10 billion. Why?

Emerging security threats—like malware, fraud, political unrest, and more—are increasingly making it difficult for in-house security teams to cultivate a robust corporate security program and navigate the changing landscape. More and more, organisations are recognizing their vulnerabilities and taking active steps to minimize their risk and implement corporate security best practices.

When determining how to protect your physical and digital assets corporate security best practices are “best” for a reason. These three best practices help ensure corporate security considerations remain actionable.

1. Regularly Evaluate Your Company’s Corporate Security Needs
Knowing why your company needs a corporate security program can fully inform your team, align strategic goals across departments, and minimize unknown risks.

• Conduct detailed reviews of your business strategy and any information about the safety or security of your employees, brand, or product. The review will reveal potential security weaknesses you can clearly assess.
• Quantify the new data points, utilising your risk metrics to consider the intangible and direct impact of an incident. This allows corporate entities to determine whether the potential costs are significant enough to implement preventative controls.
• Use the metrics to get support for your security program. Once you’ve determined the areas of risk that pose a severe threat to your company, ensure and maintain executive buy-in for your corporate security program by using your provable data to focus on risk—and how to mitigate it—from a business perspective.

2. Integrate Corporate Security as a Company-Wide Practice
Even the most robust corporate security program will fail without adequate support or enforcement from your leaders and team. There’s also a strong link between your corporate culture and security compliance. The stronger your corporate culture is, the more likely this corporate security best practice is to be accepted and integrated. However, integrating corporate security as a company-wide practice must start from the top, so start by training your executives and department leads on corporate security procedures and expectations. Then, expand that training to the rest of your teams, knowing you have leaders to exemplify and enforce these practices.

3. Establish Clear Plans to Combat Some Top Security Risks
Every company has unique security vulnerabilities, and leaders must evaluate their company’s security needs to know the risks they face. Once determined, businesses can make plans to mitigate against those risks, paying particular attention to those that present increased threats because of the direct and lasting impact they would have. Some key threats include:

• Sabotage and vandalism
• Kidnapping, ransoms, extortion, and hostage situations
• Protests and direct action
• Terrorism incidents

Organisations can’t grow when forced to spend time and energy addressing security risks. Corporate security best practices reduce the number of security incidents your company experiences, empowering businesses to move from reactive threat response to proactive planning.

Priavo offers a full range of organisational resilience solutions to safeguard employees and businesses: click here. Our incident management platform, Locate Global, gives organisations the tools to locate, communicate and respond to their workforce globally: www.locate.global.