The Ultimate Guide to Talent Management: Strategies for Executive and Management Recruitment
In today’s competitive business environment, effective talent management is more critical than ever, especially when it comes to executive and
It is estimated that by 2025, the cost of cybercrime will reach $10.5 trillion annually, reflecting the growing scale of the immense business challenge and its potential impact on businesses across all industries.
While not all of this cost is directly attributable to attacks on individual companies, a significant portion will be experienced by businesses, ranging from financial losses, reputational damage, legal costs and recovery expenses.
In October OnTalent hosted a boardroom luncheon with key industry leaders to hear the very real story of a cyber attack with a focus on people.
We asked the question, when under attack what is the real impact on people? The organisations owners, shareholders, leaders, employees, customers, and of course the families of all of the above will be impacted.
Our guest speaker relived the day their 75 year old, global family business, was attacked with a ransom demanded. More than 400 people and their families were impacted. The owners and directors refused to pay the ransom.
Their commitment to not pay the ransom and not support this very real threat to the business was solid. A decision they did not regret for one second, but a decision that would see the business and its people face a mountainous challenge that lasted four months.
Over lunch, we learned of the profound impact on the employees, both directly and indirectly. The impacts causing disruptions in their work, to their clients, job performance and productivity. Greater still was the emotional stress and the impact on morale.
In our discussion, we discovered that leaders around the table were reporting to their boards that a cyber attack risk was quite low. And our guest certainly had cyber attack registered as a low-risk item in their prior board reports.
What’s been made clear, is that every organisation and every business is at high risk of a cyber attack, and it is not “if” but “when” will an attack happen. The key outcome was; cyber attacks should be listed as a high risk for all businesses and as such, cybersecurity is a key strategy to prioritise.
Preventing cyber attacks is a critical priority for businesses of all sizes, as the consequences of a breach can be devastating. Implementing a proactive cybersecurity strategy can significantly reduce the risk of an attack.
Here are twelve top tips to help prevent business cyber attacks:
While no system can be entirely immune to cyber attacks, businesses can significantly reduce their risk by implementing a layered cybersecurity strategy. This includes strong technical measures, employee education, regular monitoring, and an effective response plan.
We all agreed, by staying vigilant and proactive, businesses can safeguard their sensitive data, protect their reputation, and minimise the potential impact of cyber threats.
Libby Marshall is currently Head of Client Services at OnTalent. Over her professional career, Libby has earned a reputation for working collaboratively with team members and experts to find the best and most effective pathway forward. Highly consultative and focused on sourcing the right information, knowledge, and advice to ensure intelligent and considered decision-making processes are followed. Strong understanding and awareness of international politics, worldwide economic trends and their influence and impact on global and APAC workforce trends.
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