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Cyber Security District
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The Hidden Costs of a Bad Hire in Cybersecurity
Hiring in cybersecurity is critical and expensive. As businesses across Europe contend with a growing talent gap in this field, the cost of a bad hire can have significant financial and operational consequences. Whether it's lost productivity, disrupted team dynamics, or increased security risks, making the wrong hiring decision could cost more than just money.
The High Price of a Bad Hire
According to the Recruitment & Employment Confederation (REC), a bad hire can cost a company up to three times the employee's annual salary, factoring in the costs of recruitment, onboarding, and the lost productivity of replacing them. In Europe, where demand for cybersecurity talent is fierce, the stakes are even higher. According to the Society for Human Resource Management (SHRM), recruitment and training costs alone range from €4,500 to €28,000, depending on the role.
Productivity Losses and Security Risks
One of the most significant costs is lost productivity. For example, replacing an experienced security analyst can take up to eight months, with an additional four months to train the new hire. That’s nearly a full year of reduced productivity. Moreover, a bad hire can disrupt team dynamics, potentially leading to missed security threats or vulnerabilities—a critical issue when the average cost of a data breach in Europe is around €3.83 million, according to IBM.
Additionally, poor hires can lead to increased stress for remaining staff. Overburdened employees, tasked with compensating for the lost team member, are more likely to experience burnout. This not only affects performance but could result in the loss of additional talent, further compounding the issue.
The Cost of Vacancies
While a bad hire is costly, so is leaving a position vacant. According to Upwork, calculating the cost of a vacancy involves multiplying the daily cost of the position by the number of days it remains unfilled. If a cybersecurity position has a daily cost of €500 and remains vacant for 36 days, the cost would be €18,000. Vacant roles can delay key projects, expose the company to security threats, and result in existing employees being stretched too thin.
Balancing the Cost of Bad Hires vs. Vacancies
To minimize these risks, your organization must balance the costs of bad hires with the costs of vacant positions. Here are a few strategies to strike that balance:
Whether it’s a bad hire or a vacant position, both come with significant costs in cybersecurity.
In a field where the stakes are high, partnering with a specialized recruitment firm, such as Cyber Security District, can help you find the right fit, reducing the risk of costly errors and keeping your organization secure. Learn more about our current opportunities here.
New Episode of Cyber Security District Podcast 🎙️
Our latest episode of Cyber Security District podcast is now live, and we couldn't be more excited for you to listen!
Our founder Laurens Jagt sits down with Jean-Paul de Jong , partner at BlockFo. He has been in the cybersecurity industry for 30 years.
🎧 In this episode, you will explore:
Jean-Paul also shares his journey from traditional IT roles to becoming a leader in blockchain, offering invaluable insights for both experienced professionals and newcomers to the field.
Stay tuned for new episodes, which will be released bi-weekly in the coming weeks. Subscribe to the Cyber Security District Podcast on Spotify or Apple Podcasts, and join us as we explore the latest trends, challenges, and innovations in cybersecurity.
We Are Attending CyberSec 2024 📢
Cyber Security District will be attending the Cybersec Netherlands Expo 2024 and we can't wait to meet you there in November!
We’re excited to connect with fellow cybersecurity professionals, engage with top candidates, and learn from the keynote speakers. If you're attending, we’d love to meet up and chat about the future of cybersecurity.
There is still time to join us at CyberSec Netherlands 2024, check out the event details here.
See you at the conference!
Our Traineeship is LIVE 📣
We're excited to announce the launch of our Cybersecurity Traineeship, a specialized program designed for ambitious Dutch-speaking IT professionals ready to accelerate their careers! From day one, you’ll gain hands-on experience solving real-world cybersecurity challenges at top companies. You will also receive complimentary soft skills training through the Cyber Security District Academy, ensuring you’re prepared for both technical and leadership roles.
By joining our traineeship you will:
This program is exclusively for Dutch-speaking IT professionals eager to kickstart their cybersecurity careers. Apply now through our website!
Our Partnership with Z-CERT 🩺
In response to the growing challenges in the cybersecurity landscape, Z-CERT is gearing up for significant expansion, with plans to double its size within the next year. This is where our recruitment expertise at Cyber Security District comes in! Our collaboration with Z-CERT aims to strengthen their expanding Operations and Relations teams, offering purpose-driven individuals a unique opportunity to make a meaningful impact on Dutch healthcare cybersecurity.
We're actively hiring for these roles:
Curious about what it's like to work at Z-CERT?
Watch this video to learn more about their mission and work culture.
Or listen to our Cyber Security District podcast episode with Z-CERT.
3 Vacancies of the Week
🔍 IT Systems Administrator
We're looking for an IT Systems Administrator to join our client that is a certified B corporation dedicated to environmental activism. You will be a part of their IT team, and will design, develop, and maintain their IT systems, ensuring high levels of availability, performance, and security.
Role Requirements:
🔍 Information Security & Privacy Officer
We're looking for an Information Security and Privacy Officer to join our client who are at the forefront of transforming the transportation industry with their innovative products. As the Information Security and Privacy Officer, you will play a pivotal role in safeguarding their SaaS platform and ensuring the security and integrity of our clients’ data.
Role Requirements:
🔍 Recruitment Consultant
We're looking for a Recruitment Consultant to join our recruitment team at Cyber Security District. You will work a multi-faceted role of a recruiter, account manager and new business developer, all while maintaining a relationship with different stakeholders.
Role Requirements:
Looking for something else?
Click here to discover all our job opportunities or send an email to our team at info@cybersecuritydistrict.com if you have any questions.
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3moI love your newsletter and this post… people talk about all the threats of AI and CyberSecurity and believe me I’m a huge believer that the threat is real and growing at an exponential rate… the rapidly growing hacks of major operational systems and the temptation to connect all systems without regard to the flipside of convenience… on the other hand you have the largest Banks in the US at least dropping the iron fraud flag to the point where fraud preventionhas become business prevention… but it’s the heart of the matter. It always will be and always has been is people are the difference good people, especially the guardians of our cyber world have to be solid citizens first and great developer second and experience IT security professionals they come with all the certifications and qualifications that the job demands these days. .. a bad hire can be a nightmare for anyone or any organization, but the steaks are just too high in the world of the cyber security professional. The guardians have of not only our corporate ITsystems but also more and more and more importantly,our OT operationalsystems.., that’s a long way of saying thank you for this great fine piece of work… but also for your ongoing research and efforts.