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26
Sep
2022
The More You Know: Benefits of Cybersecurity Training for your Employees

The More You Know: Benefits of Cybersecurity Training for your Employees

At the start of a new job, there is usually training course as part of the onboarding process. Whether we author articles for our company’s blog or install ethernet cables, we must learn about the tasks at hand before performing them every day. However, if there is one area that requires the most training, it is cybersecurity. If employees are not trained in fundamental security principles and practices, they are bound to make costly mistakes. According to SHRM, 85 percent of all data breaches in 2020 involved human error, and an alarming 61 percent entailed misused or stolen credentials¹. 

While cybersecurity training is important for all businesses, there is no one-size-fits-all training program. For example, one program may focus on tests challenging employees to distinguish phishing and non-phishing emails, while another may emphasize live hackings as an instructional tool². In this article, we will discuss the benefits of cybersecurity training for your employees. 

The greatest advantage of cybersecurity training for your employees is that it reduces human error and, in turn, enhances your business’s security. When you implement an ongoing security awareness training program, your employees will better comprehend how to use technology in an appropriate manner³. For example, focus on educating employees about current security threats, as well as best practices for handling potential phishing emails³. You should also train your employees to avoid dangerous behaviors such as utilizing company devices for personal reasons³. Additionally, while cybersecurity training may educate your employees about the best firewalls and malware detection software to install, its greatest benefit is the knowledge it gives them so they can avoid falling victim to hackers². 

Another advantage of cybersecurity training is that it saves time in a variety of departments throughout your company². If employees are trained to be knowledgeable about cybersecurity threats, they can easily handle said threats themselves, without assistance from your HR team or IT (Information Technology) helpdesk². Your employees will be able to properly address cyber threats using their own knowledge, with no managerial intervention². This saves time and effort otherwise spent evaluating cyber risks, but it also gives your business a strong core of cybersecurity experts who can handily assume responsibility for mitigating risks and averting disaster². 

Yet another benefit of cybersecurity training for your employees is that it saves money. As outlined by Denver-based CP Cyber, data breaches cost companies worldwide more than $400 billion (about $1,200 per person in the US) annually³. While large multinational corporations can recover from breaches quickly, that is not true for smaller firms³. If a small or medium-sized business like yours suffers a breach, chances are you may need to close your doors forever after being attacked³. While implementing a cybersecurity training program may increase short-term spending, this investment will pay long-term dividends³. 

Cybersecurity training saves time, money, and human error, but it also helps you comply with rules and regulations surrounding your business³. Violating standards such as HIPAA, the Health Insurance Portability and Accountability Act, could cost your company anywhere from $100 to a hefty $50,000³. By implementing cybersecurity training with an emphasis on regulatory compliance policies and handling your company’s most sensitive data, your employees will be less likely to violate these standards, thus saving you the fines accompanying these violations³. 

Although cybersecurity training is essential for all sectors, it especially matters in hospitality. Consider that 514 million hotel records worldwide were stolen in 2018⁴. Notably, the hospitality industry is the third-most lucrative target for cybercriminals, trailing only finance and retail⁴. Unfortunately, most hotel staff have little if any knowledge of basic cybersecurity concepts⁴. According to the 2019 State of IT Security Survey, a staggering 30 percent of hotel employees do not understand cybercrime such as malware or phishing⁴. Therefore, email fraud is a major issue in the hospitality industry⁴. Whether you own one hotel or a chain of hundreds, you must thoroughly educate your employees about phishing. One mistake on your employee’s part can open doors for a flurry of harmful phishing activity⁴. 

We offer end user security training for a diverse clientele of small- and medium-sized businesses, giving you a strong line of defense against phishing, ransomware, and other harmful cyberactivity. 

Navitend can help you. Call 973.448.0070 or setup an appointment today. 

Sources: 

¹ SHRM. “Data Breach Report Emphasizes Cybersecurity’s Human Element” by Drew Robb. Retrieved from https://www.shrm.org/resourcesandtools/hr-topics/technology/pages/data-breach-report-emphasizes-cybersecurity-human-element.aspx.  

² LDI Connect. “4 Benefits of Cybersecurity Awareness Training for Employees” by Angela Cook. Retrieved from https://myldi.com/blog/cybersecurity-awareness-training-benefits/#:~:text=Let%E2%80%99s%20break%20down%20the%20four%20significant%20benefits%20of,improves%20security%20by%20strengthening%20your%20company%E2%80%99s%20human%20element.  

³ CP Cyber. “Benefits of Cyber Security Awareness Training.” Retrieved from https://cpcyber.com/benefits-of-security-awareness-training/.  

⁴ InnQuest. “How important is cybersecurity in the hospitality industry?” by Stefano Mocella. Retrieved from https://www.innquest.com/blog/cybersecurity-hospitality-industry/

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