Millennials often get a bad rap in the workplace and get an endless supply of labels thrown on them — lazy, careless, inconsiderate, avocado addicts. Whether or not you agree, is, of course, up to you. However, when it comes to an understanding of the value of personal data, they appear to be reasonably conscientious.
A new study from Radware, the cybersecurity firm, savvy millennials presents a unique data challenge to businesses, as 45% of them say they’d never share their personal data with companies as they do not trust them to keep it safe. Millennials are also more likely to use new tools to find out if their data has been stolen (14% search the dark web, 13% search data breach websites like HaveIBeenPwned).
The survey, which was conducted in August among a sample of 500 adults aged between 18 and 34, shows that Millennials understand the value of their data and often find out about security breaches before the breached company does.
Millennials are possibly best known for surfing the web and using social media; however, many negative experiences have spurred them to rethink the way in which they interact with social media platforms.
Almost a quarter of millennials surveyed said that something that they posted had spoiled a friendship or relationship, while nearly 20% said that their social media had stopped them from getting a job.
Worryingly, however, 31% admitted to sharing entertainment account logins, such as Netflix, despite the high possibility that they use the same passwords for other accounts, like online banking.
A spokesperson from Radware concluded: “Young people in the UK have high expectations of companies that they trust with their personal data. Despite how relaxed some are with their own information, most are wary of handing over data to untrusted brands and will take action if they feel that their data is at risk.”
“For businesses, ensuring a secure service in today’s digitally driven world is paramount. With such large quantities of personal data at risk, no industry is safe, and no businesses can expect to not be a target.”
“This cultural change must be embraced, and security should be seen as a selling point and a tool to improve customer loyalty, which can be damaged irreparably by data breaches and loss or reduction in service availability.”