Why Cybersecurity Awareness is a Must in Enterprises

Last Updated on April 17, 2024 by Saira Farman

Cybersecurity awareness is vital to secure a business from cyberattacks. However, more than basic security hygiene is needed to defend against sophisticated cyberattacks. To combat these attacks, enterprises must adopt the “never trust, always verify” (NTAV) model. This approach involves analyzing current threats and building an end-to-end security strategy. 

Lack Of Employee Buy-In

Most organizations are implementing employee training programs for cybersecurity awareness. This training is necessary for an age where hackers increasingly leverage email to steal money and information. The recent $12.5 billion lost to email fraud and business email compromise is a reminder of how important cybersecurity awareness training is. Even a single weaponized email can result in a massive data breach and financial loss. To increase employee buy-in, empowering employees and providing them with the tools to protect themselves is essential. Incorporating a cybersecurity awareness program in an enterprise is no small feat. The first step is convincing management and employees to invest in it. But many companies need help to win buy-in. This is especially true when the C-suite has cut the security budget, and mandatory modules are met with great resistance. To combat this problem, it’s important to tailor the program’s message to fit the target audience. Every department will have its motivations, so the approach needs to be individualized. Another factor hindering employee buy-in is that many cybersecurity programs focus on catching negative behaviors rather than addressing cultural issues. Microsegmentation can help identify the personas of people who are most likely to be vulnerable. Purposeful reinforcement from senior executives is critical to achieving employee buy-in. 

Lack Of Key Indicators

While all organizations should be committed to cybersecurity, a lack of awareness about cyber risks can compromise company security. There are several ways to address the problem, including creating a cybersecurity culture in your organization. In addition to a cybersecurity culture, you must ensure that your organization’s technology controls and processes are secure. This requires a risk-based approach, and identifying areas of concern can help your business prioritize areas for improvement. While it is important to provide cybersecurity training, too many companies need to assess whether the training is working. Most enterprises conduct “check-the-box” compliance training programs that don’t measure how much people learn or behave. Only one-third of firms are confident that they’re using the right metrics to track cybersecurity success. Moreover, many firms measure cybersecurity awareness programs by phishing click rates and course completion rather than examining whether the training enables employees to make better decisions and protect themselves.

Many breaches of high-value companies occur due to an absence of cybersecurity awareness. The result can be catastrophic, with a major impact on the company’s performance. A ransomware attack, for example, disrupted a global company for weeks, exposing sensitive data and forcing it to lower its stock price temporarily. Cyber security is an increasingly important issue for businesses, as ongoing phishing attacks expose weaknesses in company systems. 

Lack Of Business Goals Hinders Strong Culture Of Cybersecurity.

To create a strong culture of cybersecurity awareness within enterprises, business goals should be established and prioritized. Those goals should be communicated to all employees to promote appropriate behavior. Creating a cybersecurity awareness culture within enterprises should start at the top with the C-suite. Executives must set the tone and actively promote the key messages to their workforce. They should also initiate all-staff meetings by telling a story about the importance of cybersecurity for the organization. A lack of senior executive buy-in significantly hinders fostering of a cybersecurity culture within enterprises. While this problem can be addressed through training and demonstrating cyber risk management skills to business leaders, getting buy-in without a goal-oriented strategy isn’t easy.

Cost Of Training

Security awareness training has several factors determining the cost of implementing such programs. These solutions range in cost and complexity and must be customized to meet the needs of the enterprise. Some companies offer annual training programs, while others charge per user or month. The latter is more cost-effective but has limited benefits, as employees may not focus on security after the initial training.

As such, companies should weigh the costs of security awareness training and decide if it is worth the investment. Cybercrime will likely remain a significant concern for years to come. From 2019 to 2023, an estimated US$5.2 trillion in global value will be at risk. While advanced cybersecurity technologies can prevent a majority of cyber-attacks, they cannot prevent all of them. Training your employees to recognize the signs of suspicious activity will empower your IT team to respond. Cyber attacks affect small businesses even more, so implementing cybersecurity awareness training is crucial for protecting your organization.