Cary, NC, Sept. 23, 2024 (GLOBE NEWSWIRE) -- INE Security, a leader in cybersecurity training, is releasing insights into how to measure the return on investment (ROI) of training programs through comprehensive cyber training programs. Amid escalating cyber threats, investing in robust training is not merely protective but also offers considerable financial benefits.
"Threats are growing increasingly sophisticated, and overlooking cybersecurity training can lead to significant financial and operational risks. We have seen the devastating effects of this over and over again" said Dara Warn, CEO of INE Security. "It's essential for businesses to view cybersecurity training not just as a line item but as a crucial investment in their future stability and success."
Key Insights:
- ROI Calculation:
- The ROI of cybersecurity training extends beyond cyber risk management and mitigation, significantly reducing potential losses related to data theft, operational disruptions, and compliance penalties. This includes tangible savings from prevented incidents and intangible benefits like avoiding reputational damage
- ROI extends beyond security to talent recruitment and retention. Companies with internal mobility opportunities such as robust training retain employees for an average of 5.4 years, nearly twice as long as companies lacking these programs. In addition, an IBM study showed employees are 42% more likely to stay with an organization if they receive training that improves their skills.
- Compliance and Regulation:
- LinkedIn users responding to an online survey by INE Security, a leading global cybersecurity training and certification provider, recently ranked PCI-DSS (Finance) as the most challenging compliance standards to comply with (37%), followed by NIST (Government - 24%), HIPAA (Healthcare - 22%), and GDPR (General - 16%)
- Training aids in compliance with regulatory requirements, reducing legal risks and potential hefty fines from non-compliance. A combination of Comprehensive Training Programs that include training modules tailored to specific regulations such as GDPR, CCPA, and other compliance standards, and Continuous Learning opportunities to keep staff updated on the latest regulatory changes and requirements are essential best practices.
- Financial Impact:
- A number of recent studies, including a 2024 report by IBM, highlight the skyrocketing cost of cyber incidents, with the average data breach reaching $4.88 million, marking a 10% increase over the prior year. This underlines the critical financial benefits of comprehensive cybersecurity training in reducing these costs
- Lending credence to the impact of a well-trained staff, that same report showed a majority of the organizations breached were short-staffed and inexperienced in cybersecurity. Those organizations spent an average of 1.75 million dollars MORE per breach.
Operational Benefits of Effective Cybersecurity Training:
Effective training programs empower employees with the knowledge to recognize and thwart cyber threats, thereby minimizing human error—one of the leading causes of security breaches. Real-world simulation training and scenario-based cyber ranges bridge the gap between theory and practice, significantly boosting skill application and readiness.
- Enhanced Skill Sets and Certifications: Cybersecurity training not only equips employees with crucial skills but also prepares them for industry-recognized certifications like CompTIA Security+, CISSP, and others. These certifications are essential for maintaining high standards of security practices and demonstrate a firm's commitment to protecting its assets and information.
- Strategic Advantages: Companies that invest in cybersecurity training gain a competitive edge by enhancing their security posture, which is increasingly becoming a determinant in client decision-making processes. A strong cybersecurity framework can serve as a key differentiator in markets sensitive to data security and privacy.
- Long-Term Cost Savings: While the upfront costs of implementing a robust training program may seem substantial, the long-term savings from reduced breach-related losses, lower insurance premiums, and fewer fines can be substantial. These savings contribute to the overall financial health of the organization and can provide funds for further investment in technology and workforce development.
Future Outlook:
As cyber threats continue to evolve, the need for proactive and comprehensive training programs becomes more critical. INE Security is committed to staying ahead of the curve, continuously updating and expanding its training offerings to meet the changing landscape of cyber threats. This commitment ensures that clients receive the most current and effective training possible.
About INE Security:
INE Security is the premier provider of online networking and cybersecurity training and certification. Harnessing a powerful hands-on lab platform, cutting-edge technology, a global video distribution network, and world-class instructors, INE Security is the top training choice for Fortune 500 companies worldwide for cybersecurity training in business and for IT professionals looking to advance their careers. INE Security’s suite of learning paths offers an incomparable depth of expertise across cybersecurity and is committed to delivering advanced technical training while also lowering the barriers worldwide for those looking to enter and excel in an IT career.
