Korn Ferry: Managing Cybersecurity Risk

Cybercrime is a threat to every company, from small organizations to large global companies, yet many remain unprepared for what has become the inevitable breach. Since many boards lack specific cybersecurity expertise, Korn Ferry recommends several ways to get directors to understand the necessary procedures without all the tech jargon.

Cyber-attacks have the potential to bring large corporations to their knees, rapidly eroding hard earned results. According to the Ponemon Institute, “the number of breached records rose by 350% in 2013, with approximately half of the U.S. population’s personal information exposed in a 12-month period. The average time it took an organization to detect a breach was 32 days –a period during which a great deal of damage could have been done—an increase of 55% from the prior year.”

Korn Ferry recommends boards should address:

·         Security strategy

·         Policy and budget review

·         Security leadership

·         Incident response plan

·         Ongoing assessment

·         Internal education

The full report is published on Korn Ferry’s website. Read the full report.