Cyber security has historically been viewed as something you HAVE to pay for, not want to. This way of thinking is outdated today. Highly successful organizations today understand that confidence in their cyber security is what enables them to grow boldly in today’s world. Confidence in cyber security as a foundation for success is still not often talked about at the executive leadership level. The following are three core values that today’s high-performing organizations understand:
Confidence in cyber security drives business value.
Organizations with high levels of cyber security confidence grow, advance, and develop at a rate that outpace the rest. Without confidence in the organization’s cyber security, the organization won’t have the confidence needed to take the risks associated with today’s opportunities. The safety features in a high-performance race car allow the driver to not only drive safely, but to focus all of their energy on driving as quickly as possible. Confidence in the security measures in place allows people to perform at their best. When people are confident in their organization’s cyber security, they also are less likely to try to circumvent it, and are more likely to adhere to safe security practices, minimizing risk for the organization.
A 2016 study from FireEye revealed hard data on the value of cyber security confidence outside the organization also:
- 52 percent of consumers would consider paying more for the same products or services from a provider with better data security.
- 76 percent of consumers would likely take their business elsewhere due to negligent data handling practices.
- 72 percent of consumers will now share fewer personal details with companies.
- 54 percent of consumers feel more negatively of organizations breached
- 90 percent of consumers expect to be informed within 24 hours if their service provider had suffered a data breach which could have compromised their data.
The value created by cyber security confidence comes from both inside an organization with its own people and from outside with its customers and partners. The successful organizations of tomorrow already understand this today.
Cyber security is more than just protection.
The digital age continues to create new opportunities for growth at all levels of an organization. New technology brings greater efficiency, more innovation, and incredible possibilities not even dreamed of before. Cyber security is more to an organization than just protection; Cyber security is the foundation that makes advancing boldly and confidently in the digital age possible. Without a growth strategy with cyber security at its core, an organization will have trouble moving confidently and risks running off the rails.
The old way of thinking about cyber security as an add-on or a project to be marked as completed is a recipe for failure today. “Ninety-seven percent of Fortune 500 companies have been hacked, and likely the other 3% have too, they just don’t know it” says Peter Singer – Director of the Center for 21st Century Security and Intelligence at D.C. think tank Brookings Institution. High-performing organizations today do not view cyber security as merely protection; instead, they understand cyber security is the foundation for doing business in the modern world, and they define their vision for the future with confident cyber security foundation at its foundation. Anyone on a shaky foundation will be quickly left behind.
The key to an organization’s security is its people.
Many people are left uninspired by their organization’s attempts to provide them security training. In Cisco’s 2016 Annual Security Report, only 45% of people said they were confident in their organization’s cybersecurity defenses. This is a huge loss for an organization. People who feel confident in an organization’s security are far more likely to pay attention to what they can do to improve it. Even more importantly, they are far more likely to trust an organization with their future.
Great people are at the center of having great security, and great security is an essential part of having great people. It’s important to share the whole story with your workforce and inspire them to join the organization’s view of security as a foundation – not as a side note to remind them to work around.
Read more about the challenge of security and risk training.
Low cyber security confidence costs an organization energy, innovation, and productivity. At the end of the day, it costs an organization growth and potential. For help efficiently and effectively gaining security confidence in your organization, schedule a free assessment with our experienced and innovative security professionals.