The Power of High Cybersecurity Confidence: What High-Performing Organizations Understand
Cybersecurity 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 This way of thinking is outdated today.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 cybersecurity is what enables them to grow boldly in today’s world. Confidence in cybersecurity 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 Cybersecurity Drives Business Value
Organizations with high levels of cybersecurity confidence grow, advance, and develop at a rate that outpaces the rest. Without confidence in the organization’s cybersecurity, 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 cybersecurity, 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 cybersecurity 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 cybersecurity 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.
Cybersecurity 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. Cybersecurity is more to an organization than just protection; Cybersecurity is the foundation that makes advancing boldly and confidently in the digital age possible. Without a growth strategy with cybersecurity at its core, an organization will have trouble moving confidently and risks running off the rails.
The old way of thinking about cybersecurity 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 cybersecurity as mere protection; instead, they understand cybersecurity is the foundation for doing business in the modern world, and they define their vision for the future with confident cybersecurity 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 cybersecurity 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.