Ignoring the human element in cybersecurity would be a costly mistake. Just how costly? The toll of no training could result in:
Financial Impact: The average annual cost of cyberattacks for organizations has been reported to be around $4.7 million. This includes expenses related to incident response, legal fees, and lost productivity or downtime.
Reputation Damage: A breach tarnishes your brand's reputation and erodes customer trust. Recovering from a damaged reputation is an uphill battle.
Regulatory and Compliance Needs: Regulatory bodies increasingly require organizations to provide security awareness training for employees. Non-compliance can result in hefty fines, loss of license, or temporary business stoppages.
Cybersecurity Insurance: Many insurers now mandate cybersecurity training as a prerequisite for coverage. Without it, your organization may face higher premiums or even outright denial of coverage.
The ROI of Human Risk Management yields immediate dividends.
Reduced Incidents: Well-trained employees are less likely to fall for phishing scams or inadvertently leak sensitive data. This directly reduces the number of security incidents caused by your organization’s human element.
Cost Savings: By preventing breaches, you save on incident response costs, legal fees, and potential fines. Osterman Research found the ROI of security awareness training to be between 69% for small organizations and an impressive 562% for large organizations. Talk about return on your investment!
Time Efficiency: Educated users make fewer mistakes, leading to less time spent on incident identification, reporting, and resolution. Time saved translates to additional cost savings.
Risk Mitigation: Training employees mitigates the risk of breaches. It's like an insurance policy against cyber threats and in many instances, keeps you compliant with your cyber insurance policy to begin with. Why waste money on a policy premium if you don’t intend to stay within the policy’s guidelines?
Ignoring the human element in cybersecurity would be a costly mistake. Just how costly? The toll of no training could result in:
Financial Impact: The average annual cost of cyberattacks for organizations has been reported to be around $4.7 million. This includes expenses related to incident response, legal fees, and lost productivity or downtime.
Reputation Damage: A breach tarnishes your brand's reputation and erodes customer trust. Recovering from a damaged reputation is an uphill battle.
Regulatory and Compliance Needs: Regulatory bodies increasingly require organizations to provide security awareness training for employees. Non-compliance can result in hefty fines, loss of license, or temporary business stoppages.
Cybersecurity Insurance: Many insurers now mandate cybersecurity training as a prerequisite for coverage. Without it, your organization may face higher premiums or even outright denial of coverage.
The ROI of Human Risk Management yields immediate dividends.
Reduced Incidents: Well-trained employees are less likely to fall for phishing scams or inadvertently leak sensitive data. This directly reduces the number of security incidents caused by your organization’s human element.
Cost Savings: By preventing breaches, you save on incident response costs, legal fees, and potential fines. Osterman Research found the ROI of security awareness training to be between 69% for small organizations and an impressive 562% for large organizations. Talk about return on your investment!
Time Efficiency: Educated users make fewer mistakes, leading to less time spent on incident identification, reporting, and resolution. Time saved translates to additional cost savings.
Risk Mitigation: Training employees mitigates the risk of breaches. It's like an insurance policy against cyber threats and in many instances, keeps you compliant with your cyber insurance policy to begin with. Why waste money on a policy premium if you don’t intend to stay within the policy’s guidelines?
Remember, your employees are your organization’s most valuable asset. Investing in their cybersecurity education pays dividends. So, prioritize human risk management, embrace security awareness training, and watch your ROI soar while protecting your organization from cyber threats.
