Human Risk: Understanding and Managing Threats

I’ve seen how human risk can hurt organizations. Things like data breaches and safety issues come from us. In today’s complex world, knowing and managing these risks is key. This article will guide you on how to protect your team and your business.

Risk means the chance of damage, harm, or loss¹. Your risk changes all the time, affected by many things inside and outside¹. Old risk analysis looks at how likely and big threats could be¹. But, people add a special layer of risk that’s hard to ignore. Things like how people act and think can make your business vulnerable¹.

In cybersecurity, human risk is super important. If your team isn’t careful, they could let in hackers, causing big problems¹. To fight this, you need to look at why people act the way they do, not just the tech side.

Key Takeaways

• Human risk means the chance of damage from what people do, think, and feel.
• Managing risk well means understanding threats, weaknesses, and how they could hit your business.
• How people act and think is a big risk factor that needs attention.
• Doing deep risk checks and having a strong cybersecurity plan are key to handling human risk.
• Building a strong security culture and rewarding safe actions can make your team stronger.

What is Human Risk?

Human cyber risk is the chance an organization might face loss or harm because of its people’s security attitudes and behaviors. This human element is key in cybersecurity.

It’s hard to see non-financial human risks well, which makes it tough to manage them². Also, it’s hard to measure financial risks because of many factors like values and biases².

Defining Human Cyber Risk

Human cyber risk includes many threats and weaknesses that bad actors can use. Things like phishing and other tricks can really hurt an organization’s security³. People inside an organization can also be a big risk, either on purpose or by accident³. Simple mistakes, like clicking on bad links, can also put security at risk³.

Understanding Risk, Threats, and Vulnerabilities

Our brains aren’t made for dealing with long-term stress in today’s fast-paced world². This can lead to poor decisions and actions, making an organization more vulnerable to cyber threats.

Knowing what drives human behavior can help stop these issues before they start². Banks and other companies need to get better at spotting and handling risks to stay strong².

Key Factors	Description	Impact
Human Behavior	Security attitudes, situational awareness, knowledge, decisions, and behaviors	Increased exposure to cyber threats and vulnerabilities
Social Engineering Tactics	Phishing, pretexting, vishing, and other exploitative techniques	Significant risks to organizational cybersecurity
Insider Threats	Intentional or inadvertent compromise of sensitive data by individuals with access	Potential for data breaches and other security incidents
Human Errors	Clicking on malicious links, leaving devices unattended, downloading ransomware	Common sources of cybersecurity vulnerabilities

Learning about human factors can help create safer work environments and reduce mistakes². Companies that focus on human risk do better in the long run².

“Up to 74% of breaches involved a human element in 2023 according to Verizon’s Data Breach Investigations Report, and Forrester predicts that the percentage of breaches involving a human element will increase to 90% in 2024.”⁴

Handling human risk needs a full plan. This includes spotting risks, making plans to fix them, and using security tools like multi-factor authentication³. It’s key to keep improving how we handle human risks to stop cyberattacks³.

Human Risk: Understanding and Managing Threats²⁴³

Conducting a Risk Assessment

Doing a thorough risk assessment is key to spotting and stopping cyber threats in your company. It means looking at the chances and effects of different risks. This helps you focus your security work and use your resources well⁵.

Identifying Critical Risk Factors

The first step is to find out what risks are most important to your company. Look at past cyber attacks, use threat intelligence, and check your systems and processes for weaknesses⁵. Knowing what threats and weaknesses you have lets you target your efforts where they’re most needed⁶.

Building a Risk Register

After pinpointing the main risks, you should put them in a detailed risk register. This should have info on each risk, like how likely it is to happen, its possible effects, and steps to reduce it⁵. Keeping a risk register helps you keep track of your risks and deal with the biggest concerns⁶.

Good risk assessment and management are key to keeping your company safe from cyber threats. By spotting important risks and having a strong risk register, you can make smart choices and take specific steps to improve your cybersecurity⁵⁷⁶.

Raising Awareness and Education

Teaching employees about security risks is key to keeping them safe. It’s important to teach them about threats like phishing and identity theft⁸. This helps them know how to handle these dangers⁸.

It’s crucial to keep training employees on cybersecurity best practices⁸. Experts suggest having security awareness sessions every few months⁸. These sessions help employees stay alert and act quickly when needed⁸.

Targeting Critical Risks

Companies should focus their security efforts on the biggest risks they face⁸. This means training employees on the most important security issues⁸. This way, they can tackle the threats that could harm the company the most.

Using tools to watch for risky behavior can also help⁸. This lets companies catch and stop data leaks early on⁸.

“Security is everyone’s responsibility, not just the IT department’s. Building a strong security culture within the organization is paramount to mitigating human risk.”

Creating a security-focused culture in the workplace can greatly lower the chance of security breaches⁸. Rewarding employees for good security actions, like reporting phishing, makes cybersecurity more important to them⁸.

Teaching employees about security risks and giving them the right tools is key to managing human risk well. This approach helps protect the company and cuts down on security problems caused by employees.

Developing a Cybersecurity Preparedness Program

Moving from a one-time awareness program to a full cybersecurity preparedness program is key. Companies should give employees ongoing security training and chances to learn. They should also teach how to handle security threats well⁹. Make sure to refresh training every three to six months and mix cybersecurity into your emergency planning and incident response plans⁹.

Begin by doing a detailed risk assessment to spot important risks and create a risk list⁹. Use security risk assessments to check how ready you are for real threats⁹. Remember, security breaches can cause money loss, harm your reputation, lead to legal issues, and disrupt your business⁹.

Put together a full patch management program to fix gaps in apps and stop security risks⁹. Use Security Information and Event Management (SIEM) tools with User Entity and Behavior Analytics (UEBA) to watch over your network security automatically⁹. Make sure your data backup plan has a solid way to roll back changes to protect your digital stuff⁹.

Building a strong security culture is key. Encourage a security mindset in your team and reward good security habits¹⁰. Keep your training and cybersecurity plans up to date so employees know about the newest cyber threats¹⁰.

Focus on the human side of cybersecurity preparedness. Use behavioral analytics to watch and fix risky actions by your team¹⁰. Think about working with companies like AwareGO, which blends cybersecurity and behavioral science to turn human cyber risk data into steps you can take¹⁰.

With a full cybersecurity preparedness program, you can make your organization stronger against new cyber threats. This helps keep your business running smoothly even when security incidents happen⁹¹⁰.

Fostering a Security Culture

Creating a strong security culture in your company is key to reducing human cybersecurity risks. It’s not just the IT or security team’s job; it’s everyone’s duty. Encouraging employees to report risky actions and praising those who act securely can make your workplace safer¹¹.

Encouraging Security Mindset

It’s vital to build a security mindset in your team for a solid security culture. If employees hesitate to ask about security, it can lead to less awareness and understanding of cybersecurity threats¹¹. By teaching the value of security and offering regular training, you help your team protect your company’s assets¹¹.

Incentivizing Good Security Behavior

Rewarding employees for their security behavior motivates them to follow security practices. Without positive security behaviors, employees might not report cyber incidents, fearing blame¹¹. Using incentives and rewards can make your team focus on security. This helps them play a big part in keeping your company’s digital world safe¹².

Building a security culture takes time, effort, and teamwork. By promoting a security mindset and rewarding good security behavior, you make your employees key players in protecting your digital assets¹¹¹².

Monitoring Employee Activities

It’s important to trust employees, but we also need to watch for mistakes or bad behavior¹³. More companies are watching their workers because of worries about violence, theft, being less productive, and accidents¹³. Thanks to technology, bosses can check on what employees do online, through email, and on the phone without them knowing¹³.

Detecting Risky Behavior

Tools for watching employees can spot risky actions and alert IT teams to things like data leaks¹³. The law says employers can check on emails and chats for work reasons or with the employee’s okay¹³. Regular checks by IT can find security issues and fix them before they become big problems¹³.

Companies must follow the law to avoid legal trouble from privacy issues¹⁴. Some places have their own rules about privacy and watching employees, like Connecticut’s rule to tell workers if they’re being watched, and laws in California, Florida, Louisiana, and South Carolina to protect privacy¹⁴.

Choosing the right tools for watching employees is key, like getting alerts in real-time or using phones, but keeping employee info safe¹⁴. Watching too much can make workers feel like they’re being watched all the time and might work less hard¹⁴.

By finding a good balance in watching employees, companies can spot and stop risks and keep a happy and productive place to work¹³¹⁴.

“Striking the right balance between employee monitoring and trust is essential for fostering a secure and engaged workforce.”

Investing in Human Risk Management

Managing human risk well needs time, talent, and money. To get the funds for a strong security plan, companies must make a strong case. This case shows why it’s key to tackle human cyber risks¹⁵. Showing how human risks can hurt the company and the benefits of teaching employees about security can help get the funds needed¹⁵.

Studies show many companies struggle with managing human risk¹⁶. Only 40% know what risks their workers face, and less than 19% feel ready to tackle big risks like political issues and social problems¹⁶. To help, advanced HRM platforms can measure and manage risks among employees in real-time¹⁵.

HRM platforms can spot and protect those at highest risk, not just everyone equally¹⁵. Using HRM data in training can change how companies handle human risk. It lets them focus on the right people and boost productivity by letting others focus on important work¹⁵.

Putting money into human risk management is key to fighting human cyber threats. With the right HRM tools, security teams can see and control human risk well. This helps build a strong, secure program¹⁵.

Time, Talent, and Treasure

Managing human risk well needs a good plan for time, talent, and money¹⁵. Companies must spend time on risk checks, making security training, and watching how employees act¹⁵. Getting the right people, like security pros and experts in behavior, is crucial for fighting human risks¹⁵. And, showing how investing in HRM can pay off is key to getting the funds needed¹⁵.

Resource	Importance	Examples
Time	Conducting risk assessments, developing security awareness programs, and continuously monitoring employee behavior	Risk assessment workshops Tailored security training Ongoing employee monitoring
Talent	Securing specialized security professionals and behavioral psychologists to design and implement effective human risk mitigation strategies	Cybersecurity experts Behavioral scientists Security awareness trainers
Treasure	Funding security program initiatives, including the deployment of advanced HRM platforms, through a compelling business case and ROI demonstration	HRM platform subscription Security awareness training materials Security team staffing

“Investing in human risk management is essential for organizations seeking to mitigate the growing threat of human-centric cyber risks.”

With the right resources and HRM tools, security teams can manage human risk well. This helps build a strong, secure program¹⁵¹⁶.

Human Risk: A Comprehensive Approach

To fight cyber threats, companies need a full plan for managing human risk. This means making smart decisions based on risk, using technology right, and focusing on employee safety and culture¹⁷.

Seeing human risk as a key part of their cybersecurity plan helps companies get stronger and keep their important stuff safe. Human Risk Management (HRM) is about spotting, checking, and fixing risks from how people use technology¹⁷. HRM helps employees spot and share threats, turns them into security helpers, and changes their ways for the better over time¹⁷.

HRM uses tools and platforms to make sure all cybersecurity solutions work well together. It uses automation to make security tasks easier and faster¹⁷. HRM gives companies the data they need to make smart choices and see if their security efforts are working¹⁷. Tools like Unify Insights have a Human Risk Index (HRI) score to find the most risky employees and give them specific training¹⁷.

FAQ

What is human cyber risk?

Human cyber risk is the chance an organization might face loss or harm. This risk comes from how people act, what they know, and the choices they make about security.

How are risk, threats, and vulnerabilities related in the context of cybersecurity?

Risk means the chance of loss or harm. Threats are the things that could cause harm. Vulnerabilities are the weaknesses that threats can use to their advantage. Knowing how these work together helps manage human risk better.

What are the key steps in conducting a comprehensive risk assessment?

First, get the security team to gather info on past incidents, threats, and how they were handled. Then, use phishing tests and build a detailed risk register. This helps spot the biggest risks for the company.

How can organizations raise awareness and provide targeted education to mitigate human risk?

Teach employees about threats like phishing and identity theft. Show them how to spot and deal with these threats. Focus on the most important risks found in the assessment to make a big impact.

What are the key components of a cybersecurity preparedness program?

A good program includes ongoing training for employees and chances for them to learn more. It also means having clear steps for dealing with security threats. Making cybersecurity part of the company’s emergency plans is key.

How can organizations foster a strong security culture?

Make everyone understand that cybersecurity is everyone’s job, not just the IT team. Encourage employees to report risky behavior. Reward those who follow secure practices.

What role does employee monitoring play in human risk management?

Monitoring employees helps spot risky behavior, like data leaks. Regular checks by IT can find security weaknesses. It’s important to fix these issues before they cause problems.

What resources are needed for effective human risk management?

Managing human risk well needs time, talent, and money. Make a strong case for why investing in security is crucial. Highlight how it protects the company’s key areas.