Boards continue to underestimate the value of cybersecurity to businesses despite recognizing it’s key role in attracting new business and talent, according to Trend Micro .
The security giant surveyed 2718 business decision makers around the world to risky reward study.
Half (51%) believe cybersecurity is a necessary cost but does not contribute to bottom line, 48% claim its value is limited to threat prevention, and two-fifths (38%) ) view security as a barrier rather than an enabler for business.
This is despite a fifth (19%) admitting that a poor security posture is already impacting their ability to win new business. Half (57%) believe there is a strong link between cyber and customer acquisition.
To learn more about business leaders’ cybersecurity concerns, see Cyber Threats Top Business Leaders’ Top Concerns.
These conflicting views extend to talent acquisition. Only about two-fifths of respondents say they see a strong link between cybersecurity and employee retention (42%) and talent attractiveness (43%).
At the same time, however, they are aware of the impact poor security can have on the employee experience, which can impact job satisfaction.
Nearly 83% say their current security policies impact their remote workers’ ability to do their jobs.
Jon Clay, vice president of threat intelligence at Trend Micro, argued that business leaders need to rethink their attitudes toward cybersecurity.
“If organizations want to get the most out of their security investments, business leaders must reframe their view of cybersecurity and think more broadly about how it can positively impact their enterprise. there is,” he said.
“The survey clearly shows that it is a key factor in attracting new business and talent. At a time when every dollar counts, a stereotyped view of security tops the list.” It’s alarming to see them staying.”
