The employee monitoring software industry is poised for big growth: more than doubling from about $200 million today to $500 million in the next four years. Let’s take a look at some of the trends driving this growth and the reasons why organizations are turning to employee monitoring.
Trends Impacting the Rise of Employee Monitoring
Several trends are driving the rise in employee monitoring:
- Growth of the remote workforce: Regular work-at-home, among the non-self-employed, has grown by 115% since 2005.
- Growth of the insider threat to cyber security: Among 874 breach incidents reported by companies to the Ponemon Institute, 568 were caused by employee or contractor negligence and 191 by malicious employees and criminals.
- Increasing need to prove compliance or meet regulations: Regulations such as SOX, HIPAA, FISMA introduce compliance requirements and the need to report online activities for audit purposes. As data breaches skyrocket, government regulations like the upcoming EU General Data Protection Regulation (GDPR), are increasing.
- Continuing demand to increase productivity: Organizations are under constant pressure to deliver business results through optimal employee output. They’re not alone in this challenge: countries, as well, are struggling to reverse productivity dips.
Reasons Organizations Use Employee Monitoring
These trends, and ongoing business necessities, are driving organizations to look to employee monitoring for help in tackling challenges.
Evaluate remote workforce performance. Employee monitoring software enables organizations to better assess workers who are ‘out of sight’. The software helps organizations monitor employee output and time worked, ensure the use of approved company software, and prohibit the use of unapproved software or websites.
Proactively detect insider threats. Insider threat detection is a key capability of employee monitoring software. The software enables organizations to establish a baseline of normal user behavior in order to quickly detect abnormal user behavior. Proactively detecting suspicious behavior such as large file downloads, emails to personal accounts, and login access during off-work hours gives security teams the ability to stop threats before damage is done.
Meet audit and compliance requirements. Organizations must prove adherence to regulatory guidelines during a compliance audit. Employee monitoring software – with its ability to capture, replay, and retain screen snapshots – simplifies the audit response.
Increase team productivity. Two-thirds of online shopping traffic comes from laptops or desktops during the workday. Via website and application use tracking, employee monitoring software ensures users are focused on work. More than half of 600+ office employees recently surveyed said they used their phones to access websites blocked by company IT departments. Employee monitoring software also tracks excessive idle time. Finally, the software can help pinpoint cumbersome processes and poorly designed software that cause employees to struggle and productivity to dip.
Deliver objective performance evaluations. A survey of over 400,000 people across the U.S. found that when employees believe promotions are managed effectively, they are more than two times as likely to give extra effort at work. Employee monitoring software provides objective insights based on output delivered.
Ensure quality customer service. An organization’s reputation can be negatively impacted due to poor online customer service. Employee monitoring software gives customer service leaders the ability to review interactions via chat or email to ensure quality communications.
Prohibit access to harmful websites. Gambling and pornography websites aren’t just time wasters. These types of sites pose serious risks to the business, such as increased chance of malware downloads from gaming sites and the possibility of sexual harassment and hostile work environment claims. Employee monitoring software can block sites that traffic in pornography, gambling, hate speech, violent content, and illegal activities.
Want more information about the emerging employee monitoring industry? Check out our comprehensive post, Employee Monitoring Statistics and Trends: Everything You Need to Know About the Emerging Industry. Click below to learn more about Teramind.