7 Ways to Boost Cybersecurity Awareness Among Your Business Leaders
Businesses of all sizes are increasingly reliant on cybersecurity technologies and strategies to protect their data and operations from cyber threats. After all, cybersecurity impacts all aspects of business—for example, “60% of organizations will use cybersecurity risk as a primary determinant in conducting third-party transactions and business engagements” by 2024, Gartner reports.
But even today, cybersecurity leaders struggle to increase awareness and boost prioritization of cybersecurity investments among their organizations’ key decision makers. Many line-of-business leaders simply fail to understand and value the importance of cybersecurity, or simply aren’t willing to invest in necessary solutions—despite their awareness of cyber threats at large.
In this article, we discuss the challenges cybersecurity leaders face in increasing cybersecurity awareness and investments among business leaders. We make seven strategic recommendations based on recent cybersecurity best practices to help them improve outcomes within their organizations as well.
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Facing the Cybersecurity Awareness Problem Among Modern Executives
Many business leaders view cybersecurity as an IT issue rather than a strategic priority, and they often do not understand the magnitude of the risks. This lack of awareness can lead to underinvestment in cybersecurity technologies and strategies, which can put the entire business at risk.
Certainly, all business leaders are aware of cyber risks and the benefits of leading cybersecurity measures. The issue then is that too many business leaders don’t associate those risks and investments with key lines of business the same ways they might align operational, inventory, or talent investments
with those priorities.
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In other words, knowledge of cyber threats is not enough. “Knowledge consists of knowing the facts, but
awareness means being cautious because of the facts,” as Forbes describes. “Knowledge also refers to the detailed understanding of cybersecurity, while awareness warrants taking necessary actions to prevent cyberattacks without needing that deep understanding.”
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Even in-depth knowledge among cybersecurity professionals doesn’t necessarily translate into meaningful action. Cybersecurity leaders spend a lot of time educating business leaders on the importance of cybersecurity and how it can impact their business instead. Although this is necessary to get the investment and attention that cybersecurity deserves, it can be tedious and time consuming without the right resources, and without successful communication driving the impetus at hand.
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Adding Difficulty to an Existing Cybersecurity Talent Shortage
One of the most-impacted areas where a lack of executive awareness hurts cyber readiness is in cybersecurity talent recruitment and retention. Business leaders may not understand what skills and experience are needed for cybersecurity positions, so they may end up hiring people who do not have the necessary qualifications.
?“Unfortunately, many companies are entirely out of sync with the [cybersecurity talent] marketplace" Security Week reports. “In fact, Gartner and other consulting firms point out that security leaders and human resources departments habitually undermine recruiting efforts by writing job postings that contain too narrow or overly vague qualifications.”
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Failure to Identify and Invest in Leading Cybersecurity Technologies
Another issue that can arise from a lack of awareness is the inability to invest in the right cybersecurity technologies. Business leaders may not be aware of the types of technologies available or how they can
be used to protect their businesses.
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?In fact, Only 40% of the more than 1,400 C-suite executives polled in a recent industry survey say they “always conferred with their business unit leaders to understand the business before suggesting a security approach, indicating an unsettling shortage of ongoing communication,” CIO reports. Executives may end up investing in outdated or ineffective technologies as a result, leaving their business vulnerable to attack.
Teams often fail to attract and connect with the right talent as a result. What’s more, unqualified employees can put the business at risk by making mistakes or not understanding the importance of cybersecurity.
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The Real Implications of Failed Leadership on Cybersecurity
There have been dozens of high-profile cyberattacks in recent years that have demonstrated just how vulnerable even the most prominent businesses and their executives can succumb to cyber threats. One example is the attack on Sony Pictures in 2014. The attack by state-sponsored actors resulted in the release of confidential and sensitive information, including emails and proprietary data and content. Notably, the attack had Sony leadership following up after the fact to limit damages from the attack. The events unfolded even after Sony connected with U.S. government officials about their concerns.
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Another example is the attack on retailer Target, which resulted in the theft of credit card information belonging to millions of customers. Target customers also had their personal information stolen, including addresses and phone numbers. Target’s chairman and CEO Gregg Steinhafel resigned as a result of the attack after 35 years working with the retailer, NBC reported at the time.
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These examples highlight the need for business leaders to be aware and act on cybersecurity threats before they become attacks. In many cases, the it falls to organizations’ cybersecurity leaders to instigate those actions through successful communication with business leaders.
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7 Cybersecurity Areas of Focus for Business Leaders Today
Cybersecurity leaders must relay a sense of urgency in terms of their commitment to cybersecurity resilience and ongoing success. Consider how these seven areas of focus apply to your cybersecurity best practices, technologies, and executive awareness.
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New Cybersecurity Threats
Cybersecurity leaders can keep business leaders up to date on the latest threats by publishing regular internal content and scheduling regular instructional meetings on the subject. These are two efforts that are too rare in even prominent enterprise companies today. Cybersecurity leaders can also share predictions for the cyber threat landscape. By doing so, they can help business leaders understand the types of threats that they may face in the future and how to protect themselves from them today.
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Cybersecurity Skills Gaps
Experts in cybersecurity can educate business leaders on the cybersecurity skills gaps that are currently affecting the industry. For example, the private sector lacks key cybersecurity skills in areas such as risk management, incident response, and forensics. Executive leaders can improve methods for recruiting employees with these skills by partnering with universities and colleges, as well as cybersecurity training providers. They can work with HR teams to optimize salaries and benefits packages to target workers with these skills as well.
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Internal Cybersecurity Vulnerabilities
Investigating, discovering, and disseminating various internal cybersecurity vulnerabilities that exist within their businesses is also critical. These vulnerabilities can include things such as unsecured networks, weak passwords, and outdated software. Identifying vulnerabilities and their business implications can go along way towards inspiring senior business leaders to act.
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Disaster Recovery Status and Needs
Cybersecurity leaders should also keep business leaders up to date on the status of their disaster recovery plans. They should share information on what needs to be done to improve the plan, as well as what resources are needed to implement it. Cybersecurity leaders can help business leaders understand the importance of having a robust disaster recovery plan in place and how it can protect their business in the event of a cybersecurity attack as well.
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Necessary Cybersecurity Technology Investments
Business leaders need help understanding the importance of making necessary cybersecurity technology investments. They are often reluctant to make these investments due to the cost and complexity of implementing them. Common cybersecurity technologies at leading enterprise companies include:
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These are only some of the technologies that are available to businesses. New threats and corresponding technologies emerge every year, warranting additional investments—such as partnerships with third-party cybersecurity experts and consultants—to identify the right solutions.
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The Associated Costs of Modern Cybersecurity Capabilities
Cybersecurity technologies are becoming more complex and costly with each passing year. Business leaders must come to terms with the associated costs of these modern cybersecurity capabilities.
Cybersecurity leaders can help business leaders prepare to make significant investments by highlighting real-world business results—or lack of results in the case of an attack—thereby justifying the financials.
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Methods for Cybersecurity Strategic Development
Finally, cybersecurity leaders must educate business leaders about their roles in cybersecurity. From a strategic standpoint, business leaders need to understand the cybersecurity risks that their company faces and how they can be mitigated. They also need to understand the different cybersecurity functions within their organization and what is expected of them. Only then can they shape an ongoing strategic direction for the company in terms of cybersecurity sophistication.
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A “Whole Organization” Approach
No matter the case, cybersecurity leaders play a vital role in increasing cybersecurity awareness and investments among business leaders. They can do this by educating business leaders on the various cybersecurity risks that exist, as well as the importance of making necessary cybersecurity technology investments.
But educating company leadership is only one part of cybersecurity leaders’ responsibility towards their organizations. Increasingly, everyday employees must become “foot soldiers” in the right against cyber attacks as well. In time, cybersecurity awareness, detection, deterrence, and mitigation will become an inherent part of every professional role—after all, the future of business depends on it.
Uvation Keeps you at the Forefront of Cybersecurity Capabilities
?At Uvation, we take proactive steps for our clients in terms of threat awareness, technology advances, and best practices for security success. Contact one of our cybersecurity experts today for a free consultation.