Published: August 13, 2023 on our newsletter Security Fraud News & Alerts Newsletter.
When a business experiences a cybersecurity event, the road to recovery is challenging. There’s the financial cost of recovery for sure, but research also shows up to 60% of employees leave their job after an attack. How to help retain staff after a security event is something every business leader should know how to do.
Research by Encore has identified what the weight of a cyberattack does to staff retention. Their survey involved business leaders, C-suite, CISOs (Chief Information Security Officers), and other employees. Their report found 57% of the top echelon knew their enterprise experienced a security incident in the past year, while only 39% of regular staff say they thought an event happened. That disparity leads to staffers losing trust in an employer who keeps security events from them.
Study participants said their main reason for quitting was their employer could no longer afford them. They feel their customers lost credibility in their employer after a data breach, leading to serious financial loss and the inability to keep paying salaries.
Tip: Breach Transparency and Cyber-Awareness Help Retain Staff
According to Encore, transparency with staffers about a breach is an important part of retaining them. It begins with informing them that security events happen as a fundamental part of doing business today. The reality is data breaches are a daily risk all businesses face protecting customer and employee PII.
Providing cyber-awareness training for all employees, including those at top levels, gives them the tools to help spot and stop a potential cyberattack. Those tools include learning the red flags of email phishing, the source of 90% of all security breaches according to DataProt. Cyber-educating employees help them see data security as an effort by all rather than a task left to a remote, third-party provider.
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Unexpected links, images, voicemail messages, and attachments
A sense of urgency that something bad may happen without quick action
It’s true a security event can cost a business in ways it might not recover from, and that includes losing employees. But knowing how to help avoid that loss and bolster security at the same time just might put you a step or two ahead of the competition.
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