Cybersecurity threats are a growing concern for businesses of all sizes, and developing a robust cybersecurity strategy is essential to protecting your organization.
According to a report by Cybersecurity Ventures, cybercrime is expected to cost the world $10.5 trillion annually by 2025, so knowing the costs involved in protecting your company is vital. This guide will break down the costs associated with cybersecurity awareness training for employees and help you make informed decisions for your business.
How much does cybersecurity awareness training cost?
Training your employees on cybersecurity is an investment in your company’s future. The costs can vary based on several factors, including the type of training and the size of your company.
The average cost of security awareness training
The average cybersecurity training cost can range widely. For example:
- For one-off training sessions, you might pay anywhere from $20 to $100 per employee.
- Monthly subscriptions typically cost between $2 to $10 per employee per month, while annual training programs can range from $20 to $50 per employee per year.
To get accurate pricing, always make sure to speak directly with the cybersecurity training provider directly. They will provide you with a cost that’s tailored to your company's size and number of employees.
Does company size affect the cost of security awareness training?
The size of your company can impact the cost of training. Larger organizations may receive discounts due to volume, while smaller companies might pay a higher per-employee rate. Those with over 1,000 employees might see lower per-employee costs compared to smaller businesses.
Coordinating with the security awareness training providers you are considering is the best way to gain insights into how your company's size will affect the cost of the service offered.
Does the type of security awareness training affect the cost?
Different types of training can also affect the overall cost. Online training modules, in-person workshops, and ongoing training programs each come with their own price tags. Online training is generally more affordable, with costs ranging from $2 to $10 per employee per month. In-person workshops might cost more but offer hands-on experience, typically starting at $100 per session per employee.
A range of factors that can affect the cost of security awareness training, including your company size, the nature and location of the training provided, whether you opt for a one-off or ongoing training type, and the provider you choose. Be sure to take these factors into account as you weigh up your options for a cybersecurity awareness training provider.
Is cyber security awareness training worth the cost?
Investing in cybersecurity awareness training can save your company from major losses. According to IBM's 2020 Cost of a Data Breach Report, the average cost of a data breach is $3.86 million. The cost of training is a tiny fraction of this amount, making it a worthwhile investment.
The benefits of security awareness training
There are numerous demonstrated benefits to providing security awareness training to your employees, including:
- Reduced risk of data breaches: Educated employees are less likely to fall for phishing scams or other cyber threats, helping protect your organization from costly data breaches.
- Improved compliance: Security awareness training helps ensure your company meets industry regulations and standards.
- Protects company assets: By guarding against cyber threats, cybersecurity training helps keep sensitive information secure.
- Boosts employee confidence: Employees feel more confident in handling suspicious activities after receiving security awareness training.
The risks of not implementing cybersecurity awareness training
In addition, failing to train employees on cybersecurity threats such as phishing comes with serious risks, including:
- High cost of data breaches: Unprotected organizations risk substantial financial losses. According to IBM, the average data breach cost affected businesses around $4.88 million in 2024.
- Loss of customer trust: Data breaches can lead to a loss of customer confidence and reputational damage to your brand.
- Regulatory fines: Non-compliance with regulations can result in hefty fines.
- Operational downtime: Cyber attacks can disrupt your business operations, leading to loss of productivity and revenue.
While security awareness training requires an upfront cost, this is substantially lower than the cost of financial, reputational, and regulatory damage to your organization. A proactive approach to cybersecurity will help protect your business, equip employees, and help avoid negative consequences.
Check out our complete guide to corporate cybersecurity for more information on how you can protect your organization from evolving cyber threats.
Prioritize security with employee cyber security awareness training from Jericho Security
Investing in cybersecurity awareness training is essential to protect your business. What’s more, the costs associated with training are minimal compared to the potential losses from a data breach.
Jericho Security offers tailored AI-powered training programs that fit your business needs and budget. Protect your business and give your employees the knowledge and insights they need to stay safe. Learn more about Jericho Security’s training programs and get started today.