The increased reliance on digital platforms has helped many companies operate more efficiently. But it also poses an increased risk of cybersecurity attacks. Malicious actors realize more companies are operating online and devise plans to try to get ahold of sensitive information.
CEOs must take a multi-pronged approach to mitigate risk and prevent attacks. They must do more than respond to breaches. They must establish a leadership strategy that integrates cybersecurity into their company culture.
How Bad are Cyberattacks?
Cyberattacks are on the rise. According to Astra Security, about 4000 cyber-attacks occur daily. Cybercrime Magazine predicts the cost of attacks will reach $10.5 trillion annually worldwide.
Several factors contribute to the ever-growing cyberattacks. The first is the decline in the cost of launching a cyberattack. More efficient ways to breach systems are making it easier for hackers to attack.
Digital transformations also play a role. More companies are relying on virtual platforms to boost efficiency and accommodate a virtual workforce. Cyber-attackers are aware that more sensitive information is available online, and they want to get their hands on it.
Companies that integrate a cybersecurity culture will avoid costly attacks that result in a loss of money and productivity. They will have a competitive advantage over organizations that don’t integrate the latest technology to prevent breaches and minimize risk.
How to Define Cybersecurity Resiliency in Your Organization
Provide Cybersecurity Training
Cyberattacks happen at every level. An employee may click on a link, and suddenly, systems across the organization are in danger.
Educational programs help employees identify risks and reduce vulnerability. But training programs should not be a one-and-done solution. Employees should engage in regular training programs throughout their tenure to ensure they are updated on the latest technologies.
CEOs should also continue to evaluate programs and seek feedback to ensure they are meeting company needs.
Cybersecurity as a Business Goal
When an organization thinks of business goals, many consider driving sales, increasing profitability, and boosting customer satisfaction. Cybersecurity is rarely considered. However, an organization that prioritizes cybersecurity as an objective will get a leg up on its competition.
CEOs can help workers focus on cybersecurity by creating measurable goals. They can focus on identifying vulnerabilities, reducing security incidents, and decreasing the Mean Time to Detect (MTTD). These goals will give employees something to work towards and make them more motivated to keep the company safe.
Risk Assessment Checks
Regular risk assessment will help reduce security breaches. CEOs must consider which systems provide access to sensitive information. They must measure their company’s potential for data loss and corruption.
It is impossible to eliminate risk. Companies must determine how much risk they can handle so they can stay in line with their cybersecurity goals. They must identify weaknesses so they can protect areas that are most vulnerable to attacks.
Develop a Working Relationship with Your CISO
The evolving cybersecurity landscape has fueled a need for a new type of company leader- the chief information security officer (CISO). If your organization doesn’t have a CISO, you may consider hiring one. If your organization has a CISO, ensure they play a visible role in your leadership efforts.
CISOs should be a part of project development. They should be consulted to ensure security measures are integrated into new programs before they are launched. CISOs should also work with team members to ensure everyone is following security protocols.
Update Security as Needed
Cybersecurity is an evolving industry. Companies must stay on top of the latest developments and integrate new tools into their product suite. They must monitor the tools’ effectiveness and ensure they reduce risk rather than increase it.
While most new devices are useful, they pose a risk if they are not protected. Updated security protocols will mitigate risk.
Create an Incident Response Plan
CEOs must work with their teams to ensure efficient breach responses. Teams must learn to act quickly to minimize damage. The source of the breach must be identified to minimize risk.
There are several steps employees must take to keep a breach under control. They should alert other staff members, assess the risk, and determine the best steps for containing the breach. The next steps involve removing vulnerabilities to prevent future leakage.
Download this resiliency checklist to learn more about how to keep your organization safe.
Additional Cybersecurity Resources
Crisis Management and Business Continuity Planning for CEOs
The Role of CEOs in Ensuring Cybersecurity: Best Practices and Strategies
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