The Importance of Employee Security Awareness Training for Businesses

As we navigate the digital landscape of today's business environment, cybersecurity has become a paramount concern for organizations. Recent data indicates that cyber-attacks have resulted in an average cost of $4.35 million per incident in 2022, with a steady increase in reported incidents across the globe. Experts predict that by 2025, 45% of global organizations will encounter supply chain attacks, highlighting the increasing severity of cyber threats. 

In light of the growing frequency and complexity of cyber-attacks, it is imperative for business leaders to prioritize the protection of sensitive data. While essential technologies such as firewalls and antivirus software serve as crucial defenses against these threats, the significance of security awareness training for employees cannot be overstated. With human error contributing to 92% of data breaches, it is clear that cultivating a workforce capable of identifying and mitigating potential cyber threats is essential. In this blog, we will explore how Telesystem's Employee Security Awareness Training can help protect your business against the expansive cyber threat landscape.

First, let's dive into what employee security awareness training is and why it is imperative to protect your business’s sensitive information. 

What is Employee Security Awareness Training?

Employee Security Awareness Training is a structured program aimed at educating employees about the principles and practices of protecting themselves and their business from cyber threats. It involves explaining company policies on data protection, promoting behaviors that reduce security risks, and teaching staff how to identify and respond to cyber threats which is delivered through various formats, including monthly newsletters, weekly microtraining videos, and simulated phishing attacks.

Why Should Your Business Invest in Employee Security Awareness Training?

Protecting sensitive information within a business is a joint effort that requires every employee to be aware of security risks. Each employee is like a link in a chain, and it only takes one weak link to expose the entire company to theft or manipulation. Keeping your business and customers' sensitive data secure is not just about complying with regulations; it is about preserving the integrity and reputation of the business.

Here are a few of the main reasons your business should invest in employee security awareness training: 

Prevent Data Breaches: A single data breach can compromise the personal information of customers and employees, leading to financial loss and legal repercussions. Training employees to recognize threats and respond appropriately is the first line of defense against such breaches.  

Maintain Customer Trust: Customers entrust businesses with their personal and financial information. Any breach of this trust can result in lost business and a damaged reputation. A Ponemon study showed that 31% of consumers said they discontinued their relationships with the breached entity following a data breach, while 65% said they lost trust in the organization after being affected by one or more breaches. By training employees to understand the importance of data protection, businesses can maintain and build customer confidence while protecting themselves from security threats. 

Ensure Compliance: Many industries are subject to stringent data protection regulations, such as GDPR, HIPAA, PCI DSS, and CCPA. If you mishandle records, it could have a detrimental impact on your business, leading to costly fines and legal issues.  Employee training ensures that all staff are aware of and adhere to these regulations, adding another layer of security to your business and bolstering your compliance efforts.

Reduce Human Error: Human error is one of the leading causes of data breaches. By training employees on best practices and potential threats, businesses can significantly reduce the likelihood of mistakes that could lead to security incidents.

Security Awareness Training is an invaluable tool in protecting your business, and it can help your business stay prepared in the face of an attack. As new, sophisticated cyber threats continue to emerge, understanding their complexities is an essential step in safeguarding your business. 

Understanding The Threat Landscape

In today's digital age, it is crucial for organizations to grasp the complex and ever-changing cybersecurity landscape in order to safeguard their operations and sensitive data. Cyber threats pose significant risks to businesses of all sizes, from small enterprises to multinational corporations. These threats range from phishing attacks and malware infections to data breaches, all of which have the potential to disrupt business operations and compromise sensitive data.

As the threat landscape continues to evolve, cybercriminals are adopting increasingly sophisticated and organized methods to exploit vulnerabilities. In addition to traditional threats, businesses are now confronted with risks arising from technological advancements, such as the exploitation of artificial intelligence to perpetrate cyber-attacks. The rapid shift to remote work has also created new security vulnerabilities, making organizations more susceptible to attacks. With the advancement of technology has come an array of new threats that could infiltrate your company and cause irreversible damage. 

Considering the high-stakes consequences of poor security, it is imperative for companies to stay vigilant and prepared in the event of a cyberattack. Understanding and identifying these common threats is crucial for developing effective defense strategies against cybercriminals:

Phishing Attacks: These attacks involve sending fraudulent emails or messages that appear to come from legitimate sources. The goal is to trick recipients into revealing sensitive information, such as login credentials or financial details.

Ransomware: Ransomware attacks involve malware that encrypts a company’s data, rendering it inaccessible until a ransom is paid. These attacks can cripple business operations and lead to significant financial losses.

Social Engineering: Cybercriminals use social engineering tactics to manipulate individuals into divulging confidential information. This can include pretexting, baiting, and tailgating.

Advanced Persistent Threats (APTs): APTs are prolonged and targeted cyberattacks where an intruder gains access to a network and remains undetected for an extended period. These attacks are often aimed at stealing sensitive information.

Insider Threats: These threats come from within the organization and can be either intentional or unintentional. Employees may inadvertently expose data through careless actions, or they may have malicious intent. Promoting a culture of security awareness in the workspace may help mitigate these risks. 

Insider threats in particular have emerged as a growing security concern. According to Trellix’s 2024 Threat Predictions, insider threats have increased by 47% over the last two years, resulting in substantial financial losses for organizations worldwide. As such, emphasizing the need for comprehensive employee security awareness training has become paramount. Before delving into employee security awareness training, it is essential to understand the risks associated with untrained employees and the common mistakes that could potentially expose vulnerabilities and compromise the organization's assets.

Risks Posed by Untrained Employees

The threat of a data breach is often synonymous with external hackers infiltrating a company's network. However, it's essential to recognize that untrained employees within the organization can pose one of the most significant risks to data security.

Research by the SANS institute indicates that three-quarters of security professionals spend relatively little time on awareness, implying that security training is not given the priority it deserves in many businesses. Consequently, employee errors, often stemming from a lack of awareness, account for a striking 92% of data breaches. 

The consequences of employee errors can have a widespread impact, affecting both individual employees and the entire organization. For instance, in the event of a cyberattack, a company is likely to experience downtime, leading to lost revenue and missed business opportunities. According to recent statistics, businesses affected by ransomware attacks lose an average of six days of work, and an estimated 70% drop in employee productivity during the remediation process. Take, for example, the case of Ascension Health, a nonprofit organization operating numerous healthcare facilities across the country. Hackers accessed Ascension systems after an employee mistakenly downloaded a harmful file. As a result of the ransomware attack, the organization suffered significant financial losses and faced patient class action lawsuits due to the exposure of private information.

As demonstrated by Ascension Health, it is much easier to cause a data breach than one might imagine. Here are some common employee mistakes that can result in compromised data:

Falling for a phishing email: More than 130 of Britain's National Health Service email accounts were compromised in a prolonged phishing campaign. Scammers sent 1,157 phishing emails to NHS employee accounts between October 2021 and March 2022. These emails contained a link to a fake Microsoft 365 login page asking NHS employees to provide their login details. At least 139 NHS emails were compromised in the attack, but the true scale of the campaign was likely much larger.

Emailing the wrong recipient: Accidentally sending sensitive information to the wrong email addresses due to auto-correction or selecting the wrong contacts can lead to unintentional data exposure. Employees may also reply to an email thread with unintended recipients.

Using weak passwords or sharing passwords: This practice, among colleagues, can lead to unauthorized access to company systems and data. Reusing a password means an attacker can obtain credentials from one website and then use it to gain access to another.

Using an unsecure network: It's risky to use company devices on unknown networks. Such networks may not have encrypted data, making it easy for hackers to steal. Login details can be exposed when accessing emails or social media on public networks. Additionally, viruses and malware can be easily distributed over such networks. 

Using personal email for work purposes: Transferring company data to personal email accounts can expose sensitive information to external threats and compromise security. Personal email accounts are typically not as secure as work accounts. They might lack the advanced security measures, encryption protocols, and regular monitoring that business email systems have in place to protect sensitive information.

It is evident that employees who are not aligned on security practices present a significant liability. Therefore, businesses must ensure their employees understand the associated risks and how they can help prevent them. By implementing a thorough Employee Security Awareness Program, businesses can cultivate a sense of teamwork and equip their staff with the necessary knowledge to safeguard against potential cyberattacks.

The Benefits of Telesystem’s Employee Security Awareness Training

In today's rapidly evolving digital landscape, the threat of cyberattacks is a significant concern for businesses. It can be challenging to keep pace with the ever-changing tactics employed by cybercriminals, and organizations often struggle to provide comprehensive protection for both their systems and their employees. Recognizing the crucial need for a proactive approach to cybersecurity, Telesystem’s Employee Security Awareness Training program is tailored to address the complex and evolving cyber threat landscape faced by businesses.

At the core, the solution is focused on empowering employees to become the first line of defense against cyber threats through ongoing education, microtraining videos and quizzes, and targeted phishing simulations. Additionally, the solution incorporates innovative features such as Employee Vulnerability Assessment (EVA), continuous Dark Web monitoring, and annual security audits to further enhance the organization's cybersecurity posture. By fostering a culture of collective vigilance, the program emphasizes the essential role that each employee plays in upholding cybersecurity, ultimately contributing to an overall enhancement in the organization's security stance.

Ultimately, Telesystem’s Employee Security Awareness Training aims to instill lasting habits in employees that enable them to effectively identify, prevent, and report malicious activities before any damage is done. Through active participation in the program, Telesystem positions both the business and its employees to confidently navigate the complex cyber landscape, recognizing that everyone has a role to play in upholding cybersecurity. Proactive steps like employee training can yield immeasurable dividends, preserving sensitive information, upholding consumer trust, ensuring compliance, and safeguarding business continuity. As cyber threats continue to evolve, so must our defenses—and it starts with our people.

To calculate your Security Awareness Training price and order online, visit our webpage and get your team started today!