While it might not be the first thing that comes to mind when thinking about running a recruiting company, cybersecurity is a topic that everyone in this field needs to stay aware of in today’s digital world.
Whether you are an executive, a manager, or anyone working on the day-to-day tasks of a labour-hire business, understanding the dangers and subsequently knowing how to safeguard your business is extremely important.
Why are recruitment companies vulnerable?
You might wonder, “Why would hackers go after a recruiting company?” The truth is that recruitment businesses are sitting on an absolute goldmine of vital data.
Think about it: Your company deals with countless employees’ private information, including bank account numbers, contact information, and personal identifiable details of candidates and contractors.
Hackers can use this data to commit identity theft or financial fraud or even sell it on shady parts of the Internet, making it exceptionally valuable.
When running a recruitment company, cybersecurity might not be the first thing on your mind, but it is something that everyone in this field should be concerned about.
The extensive network of links between clients, employees, and third-party providers provides various access points for hackers. The industry’s swift use of digital technologies has sometimes led to gaps in cybersecurity holes.
The risks you face
Cybersecurity is more than a technical issue; it’s an important business matter.
- Insider threats: Not every threat originates from outside. Sometimes an employee unintentionally or purposely discloses the information. Given the significant turnover in the labour-hire industry, limiting who has access to what data is important to mitigate this risk.
- Phishing Attacks: Consider these individuals as easy attack vectors. Hackers send emails that appear to be legitimate, luring employees into clicking harmful links or disclosing critical information. This might open the door for more serious harm, such as ransomware.
- Ransomware: Imagine losing access to your company’s data overnight. Everything is locked up, and the hackers are demanding a ransom for us to regain access. This could mean halting operations completely for a recruitment company, resulting in significant financial losses.
Real-world incident: Finite Recruitment
A “significant” data breach and extortion attempt against Australian recruitment company Finite may have exposed the personal details of job applicants and staff from various major Australian companies and government agencies.
Hackers have accessed and released sensitive information, including resumes, employment offers, contracts, timesheets, and vaccine certificates, likely to extract a ransom.
What Can You Do About It?
So, what can recruitment companies do to protect themselves?
- Train your team: Humans are generally the weakest link in cybersecurity. Regularly teaching staff how to detect phishing attacks and other cyber threats can significantly impact their protection and that of the company.
- Limit Access to Information: Not everyone in your organisation requires access to all data. Limiting access based on work responsibilities can help lower insider attack threats.
- Have a strategy: A well-thought-out incident response strategy can save your company from a cyberattack. Knowing how to respond fast and effectively can help reduce the damage. Notwithstanding, many customers, including government entities, are now mandating that recruitment companies provide evidence of their cybersecurity posture if they wish to continue to provide staff to these customers.
- Ensure your systems are up to date: Hackers frequently exploit vulnerabilities in dated software. Regular updates and patches are required to keep your systems safe.
Cybersecurity may not be the most exciting topic, but it is vital for the recruitment and labour hiring companies.
Ignoring these dangers can have devastating consequences. When you make efforts to secure your organisation, you are protecting more than just data; you are also protecting your business, your clients, and your reputation.
In a world where cyberattacks are becoming more common, being proactive about cybersecurity is essential. Whether you’re a CEO, manager, or anybody else in the recruitment sector, now is the moment to prioritise cybersecurity.