Are you currently employing remote workers as a result of COVID-19? No matter the scope of your business, it’s almost certain you do. While remote work has been on the rise since 2005, with the number of employees who transitioned to remote full-time had jumped 173% through 2018, now it has become close to the only option for many businesses. This change has done more help than harm. Remote employees contribute to reducing your company’s overhead costs and operating with a smaller ecological footprint.

As with anything in the professional world, these benefits are met with a fair share of challenges a well. One example of these challenges is the difficulty managers may have in adjusting to overseeing their employees remotely. Communication between all parts of an organization is challenged, which can leave both managers and employees finding it more difficult to collaborate or stay connected. This can lead to feelings of isolation in employees as well.

It’s also worth considering how this impacts the potential liability any organization will experience due to their remote employees. How will injuries at home be handled? Damaged hardware? Or worse, stolen hardware leading to a data breach? Insurance is the answer to all of these questions, but selecting the right policy is imperative. This includes workers’ compensation insurance for their employees — regardless of whether or not they work remotely. These policies cover medical bills and lost wages for any employee that manages to get sick or injured while at work. This means your workers’ compensation policy should include this coverage for your employees.

As mentioned previously, a more serious issue when it comes to remote work are the potential cyber security threats. Any business that has enabled remote employees should have an encrypted virtual private network (VPN) that employees can connect to. This, in connection with up-to-date firewall and antivirus software can help ensure the safety of employee and company data.

Reducing the risk of data breach is of utmost importance, but the possibility will always linger. With the right cyber liability insurance policy, however, your organization can be prepared for these attacks. First-party cyber liability insurance covers the damages related to your organization’s data being jeopardized. Third-party cyber liability insurance protects your organization as a result of your clients’ data being put in jeopardy.

All liability aside, there are a number of benefits to allowing employees to work remotely. Remote employees have reported an increased sense of personal freedom outside of work and greatly enjoy their time at home while working. Prior to any major move for your organization, consider each side carefully. For more information on the risks and benefits of remote employees, check out the resource accompanying this post. Courtesy of B2Z Insurance.