Abstract

            Throughout this reading it explores the tradeoff between the investment in employee training and additional cybersecurity technology to effectively mitigate cyber risk. With the ever-increasing threat of cyber-attacks, businesses need to strike a balance that makes the most of their limited funds. Employee training can improve the overall security structure of the organization, while additional cybersecurity technology can provide a stronger layer of protection against cyber-attacks. The key to effectively mitigating cyber risks it to initially spend the funds for training the employees on how to use the technology and how to be aware of cyber-attacks. In the future the business can then look at adding more security technologies to their network for the employees to also learn.

Introduction

In the increase in threats of cyber-attacks, businesses face a dwelling decision to either invest in their employee training or for an increase in cybersecurity technology. But how can they make the most of their limited funds to effectively mitigate cyber-attacks? As businesses continue to digitize their operations, the need for a strong cybersecurity team becomes increasingly crucial. Attacks on a businesses network can have devastating consequence such as data breaches, financial loss, or reputable damage. Therefore, it is important for businesses to invest cybersecurity measures that can effectively diminish the risks. There are two sides to where to spend the funds, one side is training employees on how to identify and respond to cyber threats. On the other side, investing in additional cybersecurity technology can provide a stronger layer of protection against cyber-attacks.

What is The Right Choice?

When balancing the tradeoff between training and additional cybersecurity technology with a limited budget, it is important to understand that both are necessary components of a strong security strategy. In my opinion, a good starting point is to prioritize training over the addition of technology. This is because, while additional technology and more advanced technology can provide a strong layer of protection, it is important to have people that can effectively use the technology. Without proper training, employees may not know how to use the technology effectively or may accidentally compromise the security of a network by engaging in risky behavior. Therefore, investing in cybersecurity training can provide a significant return on investment by empowering employees with the knowledge and skills needed to identify and respond to potential security threats. Once an organization can successfully invested in their cybersecurity training, it may then be appropriate to move funds towards additional cybersecurity technologies. Being able to balance out the funds with proper training on the new technology added to the network is an important step in a successful security strategy.

Conclusion

To conclude, when businesses start to become more and more digital, they need to look into the security of their networks. Businesses have two major options, to either spend their funds on the proper training on their employees or the addition of new security technologies. For a network to be secure, they people running the networks need to know about the devices they are using. It is more important for a business to invest their funds in the training of their employees and then looking at adding new security technologies in the future. Would you do the same if you were managing a businesses finances.