The shortage of qualified cybersecurity employees is one of today’s biggest cyber risks. How can small and midsized enterprises prioritize sufficient time and competencies on their IT security? Can the possibility of having a Chief Information Security Officer (CISO) on retainer be the effective way of safeguarding and managing IT security?
During the past 12 months, the demand for hiring a third-party provider to support implementing an IT security strategy has been growing significantly. With cyberattacks on the rise, it has now become more evident that IT security should be centered at the core of any business strategy. Therefore, CISO Advisory Services might just be the needed solution for small and midsized companies with a limited IT organization, competence or need.
At an average annual compensation of over $250,000, the cost of adding a full-time CISO can far exceed the budgets of many businesses. Furthermore, some businesses do not require a full-time security leadership position. Others are seeking interim support as they replace a prior CISO that left their organization. And others are looking for a trusted advisor or support in an area that is new to them. Regardless of your current situation, a virtual CISO can enhance the internal capabilities of your employees tasked with handling security.
Let’s look at a few ways CISO Advisory Services can benefit an organization vs hiring full-time staff.
Lower Cost
While virtual CISO costs can vary based on your needs, on average they will cost 30% - 40% less than a traditional CISO annually and require none of the full-time staff benefits.
Staffing and Budget Flexibility
Pay-as-you-go for the hours and responsibilities you need. You might only need them while you’re in between your previous CISO leaving and a new hire coming on.
Faster Onboarding
With a virtual CISO, the onboarding costs and times are often far less. The virtual CISO may also require less training as they hold a greater amount of collective experience with various environments and programs.
As many organizations have an immediate need to address security concerns, it can be difficult to have to wait six to nine months to recruit, onboard, train, and fully immerse a CISO in their role. A virtual CISO can hit the ground running immediately, be an objective outsider, and provide near-immediate value. Hiring a virtual CISO can be seen as a learning opportunity for your in-house IT team and the rest of your staff. Since this person is an expert on cybersecurity, you’ll be able to utilize that knowledge and experience to your advantage.
