In the COVID-era workplace, where most work is either conducted online or in conjunction with COVID testing data, cyber attacks have more targets to disrupt various companies with. With this in mind, increasing resiliency and thus building investor trust is more important than ever. Given this, companies are disclosing their cybersecurity measures in order to provide transparency and reassurance.
Many companies are taking steps in increasing cybersecurity, with nearly 100% of companies recognizing cyberattacks as a threat. However, less than half of the examined companies specifically sought out cybersecurity experts on their board of directors or as outside consultants, and rarely included compensation incentives for executives concerning cyberattacks.
While companies seeking out counsel for cybersecurity is increasing, it is still far from a majority, and companies preparing and running cyber-incident simulations are still far below optimal. It seems like many companies rely on external support and advisors.
It is undeniable that the COVID era has brought out more concerns surrounding cybersecurity in the workplace alongside increasing awareness from investors surrounding the threat of cyberattacks on these companies. External councils such as SEC are now releasing broad statements to the market at large regarding cybersecurity. This is all in replacement of proper sweeping policies from the U.S. government in the form of legislation.
