If a laptop is stolen, even a strong password will likely get cracked. Once the thief succeeds, any private data that is unencrypted is free for the taking.
One solution: keep sensitive data on a secure private cloud service, so it’s never on your employer’s hard drive in the first place.
By storing this information in the cloud, you can immediately revoke access when a device goes missing. If you have an internal file server in your office, make sure it’s secured properly – you need to talk to your IT provider and discuss options for shared folders for things like HR that only certain people need.
You may have a q:\ drive for documents, and s:\ for accounting, and a p:\ for workflows and processes. Everyone can use q:\ and p:\ but only people who do accounting can use s:\.
It’s simple stuff – but think of the possible damages of data on a lost laptop at the airport. If you are in the medical field, this could also engage the Office of Civil Rights as a HIPAA violation. If your laptop hard drive has the option to encrypt, use it!