Bring Your Own Device or BYOD policies are a growing trend in the business world. And while it can be convenient for employees and a money saver for companies, it isn’t without risk. So before you put a BYOD policy in place for your business, make sure you weigh the risk and reward.

Racking Up the Costs

BYOD programs can quickly be taken advantage of by employees. Several companies, especially those with multiple employees using the program, have run into individuals who take advantage of BYOD. Employees can quickly and easily rack up extra costs through expanding their device to an entire family plan at the company’s expense, as well as upgrade fees, downloading apps and racking up overseas charges.

Separating Business and Personal

When an employee uses a personal device under a BYOD program, that means they also have all their personal contacts, apps, social networks and distractions on that device. This can lead to individuals checking their Facebook pages, texting friends or going for a new high score on their favorite game. Instead of completing an important project, making sales calls or responding to company emails as you expect them to.

In-House Hacking

A BYOD program also provides the risk of employees taking important company information with them. Your IT and security network may not have the same abilities when it comes to personal devices. Thus, client contact information, photos of confidential documents, and company passwords could all be at risk of getting into the wrong hands if the device is hacked or the employee jumps ship for a competitor. Employees can also lose their phones, and when it’s a personal device, chances are they are going to take as much time as possible to search for it before reporting it to your IT team. This gap of time could be the difference a hacker needs to get critical data off the phone before your IT team has the chance to wipe it clean.