While cybercrime is on the rise globally, it’s rapidly becoming a huge problem in Ireland, in particular for small and medium-sized businesses. As online sales continue to account for a bigger chunk of revenue for businesses, this growth in eCommerce has also led to an even more significant increase in cyberattacks. So what can you do to protect your business against cyberattacks? Could the answer lie in Cyber Security Awareness training?

Well, as they say, prevention is better than cure, so taking the approach of preventing the attacks at the source is the smart move.

In this article, we highlight the many reasons why Cyber Security Awareness training is essential for your business.

First, let’s look at some cyber-crime statistics

A recent study published by Microsoft and Vodafone found that almost 50% of businesses had experienced multiple cyber-attacks in the past year, with a staggering 43% of those businesses stating that they had been attacked up to five times.

When it comes to confidence in their cyber security, the majority of businesses who contributed to the study stated that they still felt unprepared for another attack in the future. Perhaps more worryingly, a third of those surveyed said they were seriously considering reducing their cyber security budget.

Financial and Reputational Consequences

It’s clear that there is a lack of understanding of the financial and reputational consequences of not making cyber security a priority, coupled with the challenging economic situation which is certainly putting many businesses under financial pressure.

According to a report by IBM, human error played a role in 95% of cyber-attacks. Businesses need to realise the importance of equipping their employees with all the tools and information needed to identify and negate cyber-attacks before they do serious damage to the business.

Read on to understand why cyber security awareness training is so crucial for your business.

Why do your employees need Cyber Security Awareness Training?

To stop data breaches and phishing attacks at the source

This is the most obvious reason – the more information and training your employees have regarding cyber security, the more likely it is that they will be able to identify a threat and prevent it from doing damage.

In a nutshell, you can spend all the money in the world on the best technology to stop a cyber-attack, but if you haven’t considered the human element, then you’re still leaving yourself vulnerable to a breach of security.

A comprehensive training program will help raise awareness of all threats such as sophisticated phishing emails.

To give customers confidence that their information is safe

It’s not just businesses that need to worry about cyber security. Consumers are becoming more aware of the threats from cyber criminals and particularly when it comes to their data and information. The knowledge that you are taking all the necessary steps to protect their information will give your customers confidence in you as a business. Just think of the trust customers will have in your business if your employees can confidently discuss the measures in place to prevent a cyber-attack.

Furthermore, it also shows consumers and other organisations linked to your business that you take a responsible approach to cyber security.

Cyber Security Awareness Training benefits your employees’ wellbeing

As frustrating as it may be for you as an employer to have to deal with the aftermath of a cyber-attack, it can be equally difficult for your employees. Not only does it hinder their ability to continue with their work, but it can be a stressful and unsettling time for the whole team.

Providing cyber security awareness training means that your employees can remain productive at work while arming them with the confidence of preventing cyber-attacks through their own foresight and actions.

It also helps to build a culture of security within the organisation, which displays a duty of care to your employees and consumers alike.

As many employees are continuing to work from home, there’s further risk of a breach of data as a result of a cyberattack. It’s important to remember that cyber security awareness training keeps your employees safe both in the workplace and when working at home.

To reduce the risk of financial losses to your business

There’s no doubt that a cyber-attack can be extremely costly for businesses. Going back to the study we mentioned earlier on cyber-attacks on Irish small and medium-sized businesses, the average business lost €8,500 in the attacks.

Providing employees with the most up-to-date cybersecurity awareness training ensures that all employees are equipped with the tools they need to follow all cybersecurity procedures. This can save businesses the financial headache of having to shut down operations due to an attack, as well as prevent money from being lost through a data breach.

To help your business to remain compliant

When it comes to handling consumer data, being GDPR compliant is not just important for businesses, it’s the law. A cyber security breach can leave businesses open to being fined for not complying with GDPR data protection.

With good cyber security awareness training, your team can be ready and confident in the event of a cyber-attack.

To ensure the technology in place is effective

Even the most advanced cyber security training needs human input, whether it’s software needing to be updated, firewalls switched on or security warnings being acknowledged.

To ensure that your security technology is working at its maximum potential, your team must have adequate cyber training and awareness to be able to spot any issues and carry out the necessary checks.

Calnet IT Solutions: your Cyber Security Awareness Training provider

Cyber Security Awareness Training is essential for businesses across Ireland and worldwide. As technology becomes more advanced, cyber-attacks are equally becoming more sophisticated and intelligent for software alone to prevent.

The fight against cybercrime should be a team effort so training your employees to identify and negate cyber-attacks is a crucial step.

Your employees are your last line of defence against cyber criminals, so sign your team up for our Cyber Security Awareness Training – you’d be surprised at how easy and affordable it is to roll out across your business.

Get in touch with us today to prepare your staff to protect your business from sophisticated phishing and ransomware attacks.

Don’t forget to also check out our blog and resources to stay informed and up to date with the latest trends in IT and cybersecurity.