Here are All the Reasons Why Cybersecurity Training is Important to Your Business’ Success

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Training is one of the important means that departments across a company stay abreast of trends and best practices. Cybersecurity training is increasingly becoming a staple of employee training programs. It ensures that all employees are following the same playbook in security – an important trait considering the rapid evolution of the threat landscape.

Not all training works, though. There is the right cybersecurity training for specific teams. It’s the only way to ensure that your resources are going through the best use and producing the best results possible. Your IT team is not the only component of your organization that needs threat awareness training. The reason is that human error is the biggest singular factor threatening your defenses against attacks, and virtually every department of your organization is responsible to do its part in preserving the integrity of the whole.

Global cybersecurity spend is expected to rise to 120.7 billion in 2021, and one way companies can control this unprecedented rise in spending is to invest in proper training for their workforce. The reason is that employees are the first line of defense in an organization, making cybersecurity a huge priority.

Employees also agree that training helps them fulfill their obligations. 70% of workers with cybersecurity training believe it offered them the ability to recognize and respond as expected to potential threats.

Why Cybersecurity Training is Essential for Your Business

There are several ways to promote good cybersecurity hygiene at your company. There are also multiple reasons why it’s important to do this in order to instill a good security culture throughout your organization. Training should apply to all employees, no matter their position. The reasons for this include:

#1 – There’s always a risk out there

If cybercriminals are always on the prowl for a target, then it means there’s always the possibility of risk. Cyber criminals understand that your employees have access to valuable data and are your weak link. They usually resort to phishing attacks to lay their hands on this data, potentially wreaking havoc to your business. Phishing attacks are one of the biggest cybersecurity threats affecting employees, with more than 27% falling for them.

#2 – To fulfill regulatory requirements

Businesses who fail to engage in adequate employee training run the risk of regulatory fines and sanctions. Organizations in education, finance, or the healthcare industry need robust cybersecurity training for employees.

Businesses of all types can work with a reputable training provider for organizations in the Philippines.

#3 – Protecting customers and building trust

Brand loyalty happens when customers learn to trust your business. 56% of customers will stop buying from a business if it does little to keep their data safe. On the other hand, 86.6% of customers will not patronize a business that experienced a data breach and has compromised credit or debit card information. Modern business thrives on data; therefore, it’s normal that you collect information from customers, but you also need to safeguard it.

It’s also important to communicate to your employees that customers want their data safe. It’s even more important to communicate the process of guaranteeing the safety and security of the data. Employee cybersecurity education is the way to make this happen.

One successful attack is probably all it takes to significantly damage the credibility of your business. You could lose customers, but you could also lose potential partnerships with other businesses opportunities. Such relationships will be less likely after a cyber attack incident.

The high value of customer data makes it necessary to have regular cybersecurity drills such as phishing simulations. You’ll be surprised what you discover during such exercises.

#4 – Increased security

Whether you have a large team or a small one, cybersecurity training improves the security of your business. Everyone should be aware of common and uncommon threats, data breaches, ransomware, and other relevant details. Raising their awareness like this will help prevent mistakes that could hamper the safety of your organization.

Cybersecurity education and training is never a one-time effort; it is continuous. One moment of disinformation can prove to be your undoing. There’ll always be that employee with the urge to check official email on their smartphone while using public Wi-Fi. However, if everyone is onboard concerning your security measures, you’re less likely to experience a breach.

#5 – Save valuable time and money

No matter how much your cybersecurity training spend becomes, it will never accrue to the losses that will follow if you choose not to. Therefore, it’s wise to invest in cybersecurity courses and training programs while you can. Data breaches and other attacks cost companies more than $400 billion per year in the US alone, with a single attack costing a company up to $15.4 million. Therefore, even if it’s to prevent losing this baseline figure, paying for excellent employee training in cybersecurity is worth its weight in gold.

How to Improve Cybersecurity at Your Company

To strengthen the cybersecurity culture at your company, here are a few suggestions that you can implement right away.

  1. Use physical reminders
  2. Reminders such as posters and other prompts around the office provides visual cues to get employees to develop a security-first mindset.
  3. Update employees regularly
  4. The threat landscape is always evolving, making it necessary to always inform employees of new developments. The more they are aware of emerging cyber tactics such as phishing and ransomware, the more they are prepared when using e-mail and hosting or attending meetings.
  5. Invest in cybersecurity training
  6. The crux of this article is to get you thinking about investing in cybersecurity awareness training for your business. Even learning the basics of cybersecurity will empower your employees and improve your entire security front-line.

Conclusion

Educating your employees on data security goes beyond talking about how to conceal sensitive information using a creative password. A comprehensive security awareness program defines clear cybersecurity expectations for all stakeholders. Cybercrime is here to stay, and the best defense against it is to be prepared.

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