The Power of Privacy Protection in Employee Acquisition and Retention

Helping employees safeguard their personal information can be a vital tool for talent acquisition and retention.

You’ve surely heard the term “The Great Resignation.” It refers to the more than 47 million American workers who quit their jobs in 2021, according to the U.S. Bureau of Labor Statistics.

A combination of factors, including the global pandemic, have led workers to rethink what’s important—with many believing that their current employer isn’t doing enough to keep them onboard. In fact, 69% of employees say having a wider array of benefits would increase loyalty to their employer.

In this hyper-competitive environment, human resources teams can help attract and retain talent by becoming more generous and creative in their benefits packages. For more and more forward-thinking employers, this means focusing on data privacy protection as a key part of the solution.

An Employee Benefits Solution Designed for the Digital Workplace

While just one-third of companies currently offer privacy protection as an employee benefit, more than half of the rest are planning to do so.With cybercrime on the rise, it’s no surprise that privacy and identity protection is one of the most requested employee benefits. Offering this kind of coverage is especially critical now that remote and flexible work is becoming the norm: 67% of remote workers say they worry about online privacy and security, which is why adding an employee privacy protection plan to your benefits mix makes sound strategic sense.

A Full Suite of Identity and Privacy Protection Services

When you offer a comprehensive employee benefits solution such as the one developed by IDX, employees can gain access to the latest proactive technology designed to protect their personal information.

Along with a 100% identity recovery guarantee and perks like reimbursement for out-of-pocket expenses related to addressing the restoration of an employee’s identity, the IDX plan features a full range of identity and privacy monitoring services. These include:

• Removal of private information from public websites — IDX’s ForgetMe data removal tool automatically removes the personal profile of any employee whose information appears on so-called “people search” (data broker) websites, continuously monitoring these sites and repeating the process whenever a profile reappears.

• Advanced password security — IDX’s Password Manager is a cloud-based tool that stores all of an employee's passwords virtually using military-grade encryption. It can also create randomly generated, hard-to-hack passwords for an employee’s online accounts. To access any account, the employee simply logs into Password Manager using a single strong password.

• Social media protection — It’s becoming increasingly common for fraud and scams to be carried out through social media. IDX’s SocialSentry tool monitors an employee’s social accounts, alerting them to account takeovers, suspicious or fraudulent activity, inappropriate content, and more.

• Dark web monitoring — Cybercriminals buy and sell stolen personal data through anonymous forums in an encrypted part of the web known as the dark web. IDX’s CyberScan tool searches all layers of the web, including the dark web, alerting employees if their personal data has been breached. This gives them valuable time to keep identity fraud from happening.

If current trends in employee turnover continue, it will become even more important for HR teams to offer smart benefits like privacy protection services for employees of all ages. Not only will it set your company apart in the chase to attract and retain top talent, it’s a sound business decision for any organization committed to protecting itself from today’s digital threats.

For part 5 of the BenefitsPRO survey series, click here.