Here's a sobering fact: your technology or IT team can't and shouldn't be the only employees who are vigilant about the security of your organisation and its assets. Cyber security is everyone's responsibility. From the CEO to the intern, everyone has a role to play in keeping sensitive information secure.
So, how can IT decision-makers and business leaders ensure their teams are aware of cybersecurity best practices? Security awareness training.
With high-profile data breaches hitting the headlines, it's more important than ever that you invest in cybersecurity training across your organisation. It will help equip your first line of defence (your employees) with the right tools to succeed against increasingly crafty cybercriminals and stay safe online.
Whether you're dealing with sensitive customer data, financial information, or anything in between, the importance of cyber security cannot be overstated. In this blog post, we'll take a closer look at why cybersecurity training is more important in 2023 than ever before.
Which industries require the most cybersecurity awareness?
Cybersecurity is no longer just a concern for the tech industry. As technology use grows in virtually every industry, cybersecurity awareness has become a must-have for companies of all sizes and across all sectors.
Healthcare is one such industry that is becoming increasingly dependent on technology and, as a result, is focusing on uplifting cyber security. With the rise of electronic medical records (EMRs), healthcare organisations are now storing vast amounts of sensitive patient information online. As a result, they must ensure that their employees are trained in best practices for cyber security to avoid the risk of a data breach.
The financial industry is another sector that requires a high level of cybersecurity awareness. With the increasing use of online banking and digital transactions, financial organisations must be diligent in protecting their customers' sensitive financial information from cyber threats.
But no matter your industry, one thing is for sure: no organisation is immune to a cyberattack. And your people can and very often are your weakest link – without the right training.
Four reasons cyber security training is more important in 2023 than ever before
Here are some reasons to invest in cyber security training in 2023:
Growing attack surfaces
The attack surface for cyber threats continues to grow as workplaces modernise and move beyond the office. Whether it's through email phishing scams, credential harvesting, or other means, cybercriminals are always finding new ways to get access to sensitive information. Training your employees in cyber security best practices is a proven way to minimise the risk of a successful attack. Organisations should focus security awareness training on the latest scams and what to look out for to stay vigilant. Signing up for alerts from the ACSC is a great way to keep up to date on latest threats and vulnerabilities within an Australian context.
Increasing regulations and punishments for not protecting customer data
Governments around the world are imposing stricter regulations and punishments for organisations that fail to protect customer data. In Australia, for example, the Notifiable Data Breaches Scheme (NDBS) requires organisations to report data breaches to the Information Commissioner and to all affected individuals. Additionally, the recent Privacy Act reform has increased potential fines from $2 million to $50 million to drive better cyber security behaviour. Training your employees in cyber security can help you avoid the financial and reputational consequences of a data breach.
The return on investment (ROI) from cyber security training can be substantial. You can reduce the cost of repairs and "band-aid fixes" that are often required after a data breach by investing in training for your employees. This can be easily tracked and reported on to the business through metrics such as the number of phishing simulations and suspicious emails reported and the number of simulations that failed.
Improved security culture
Training your employees in cyber security can help to create a culture of security in your organisation. When employees understand the importance of cyber security and the role they play in keeping sensitive information safe, they are more likely to follow best practices and help create a secure environment. When employees understand the importance of cyber security and the role they play in keeping sensitive information safe, they are more likely to follow best practices and help create a secure environment. Focusing security awareness training on staff's personal lives can help drive the message home. Employees that practice good cyber hygiene at home will transfer to the office.
What does the ROI on cybersecurity training look like?
The ROI on cyber security training is substantial, as it helps to protect your organisation against cyber threats and data breaches. The cost of training is outweighed by the benefits and the consequences of forgetting this important measure.
The consequences of not training your employees in cyber security can be severe. In addition to the financial and reputational damage that can result from a data breach, neglecting to train your employees can also result in lost productivity and increased stress for employees who are not equipped to handle the ever-evolving and complex nature of cyber threats.
Moreover, the increasing number of regulations and penalties associated with the protection of sensitive data means that neglecting to invest in employee training could result in financial penalties that can be devastating to a business. It's essential that businesses invest in the cyber security training of their employees, not just for the protection of their own assets but for the peace of mind and well-being of their employees and customers. Failing to invest in security awareness may also see your Cyber Insurance Policy premiums rise.
Ignoring cyber security practices can have serious implications, so it's important to make sure your employees are trained and equipped to respond to potential threats.
The best way to go about cybersecurity training
There are a variety of methods and services available to help with the training of your employees in cyber security practices. A good cyber security training program should include tailored, modular Cyber Security Awareness information, encompassing:
- Simulated phishing
- Online or eLearning training
- Classroom or face-to-face training
- Executive briefings
- Attack/breach simulation workshops
The Missing Link offers security awareness training just like this, so you can be sure your employees have the knowledge they need to keep your organisation safe and secure.
Need help with your cybersecurity?
We understand the importance of cyber security and are passionate about helping organisations stay safe.
If you're looking to invest in cybersecurity training for your employees, then The Missing Link is here to help. Reach out today.