The survey by business app marketplace GetApp also asked employees what classifications of data protection are in place at their company. No more than a third of businesses were found to use anyone individual data classification.
The lowest in use are Proprietary (15 percent) and Highly Confidential (18 percent). The most commonly used are Confidential -- 33 per cent of businesses use this classification, Internal -- 30 percent, Public -- 29 percent and Restricted/Sensitive -- 25 percent.
Zach Capers, senior content analyst at GetApp, said: "As companies contend with rapidly growing volumes of sensitive information, data security risks are increasing for businesses of all sizes. That's why the outcome of our survey is so alarming.
"You may have complete trust in your employees, but innocent mistakes happen, and it could cost a business millions in lost revenue and reputational damage. Strict data classification, alongside extensive employee training on the dangers of poor data handling practices, will minimise the chance of a leak happening at your business."