Understanding password hygiene in businesses worldwide
Businesses need a password security benchmark
Passwords have long been a challenge to cybersecurity in the workplace, and attacks continue to grow in number and complexity every year. Despite these threats, businesses have struggled to quantify their own level of password risk. They lack proof of their policies’ effectiveness. They’re missing visibility into their employees’ behaviors. And they can’t verify how they compare to others of similar size, industry or location.
In this report, we’re not only revealing true password behaviors in the workplace but creating a benchmark that businesses can use to measure progress when investing in password security. And also, by showing averages for companies big and small, we aim to help IT professionals understand where they rank and how to improve their company’s password security.
Password security is harder for big companies
The bigger the company, the lower its Security Score on average. Organizations with 25 or fewer employees have the highest average Security Score of 50, and the average drops as the company size increases up to a point. Once a company hits 500 employees, the average Security Score holds steady at 46. It seems that organizations of over 500 people, whether 1,000 or 10,000, face similar challenges in improving password hygiene.
Since, more employees bring more passwords and unsanctioned apps, as well as extra opportunities for dangerous password behaviors. In larger organizations, it’s simply more challenging for IT to hold all employees to password security standards.
Explore the Data
Maintaining the trend of being a security leader, Technology outperforms all others in multifactor authentication. Of companies that have turned it on, 31% are in Technology. Other industries with notable usage include Banking (16%), Retail (13%) and Education (12%). To our surprise, Health trails at 3% despite its heavy regulations.
Use the benchmark to chart a better course
It’s critical that IT leaders change the way they think about passwords. The benchmark scores in this report provide businesses everywhere a way to measure their own password security, while the top performers give IT teams a goal to move towards. Visibility is fundamental for this process. You can’t measure your security unless you have a system that gives you these insights. That means for businesses that want to go beyond the averages, a password manager is a must. The organizations that can rapidly and effectively address their password challenges are well positioned to safely navigate their business into the future.