RTFM. It sounds like when you say "I’m a fairly new rider..." you are overstating a bit. Are you expecting the bike to start like a car? It doesn't. Your key switch as you describe is correct, you just haven't got the experience to know how to SAFELY start the engine. I'm thinking you should SERIOUSLY consider getting some instruction from someone with experience in these matters before you wind up damaging the bike or worse, injuring yourself. Search in your area for a beginner rider safety course and take it. Start here -> Motorcycle Safety Foundation Home Page, enter your ZIP code. The eCourse is OK but see if they or a community college or a dealership or an independent shop knows of an in-person course to take. Just because you own a Kaw doesn't mean people of all other brands won't help you. They will, no one wants to see or hear of you hurting yourself.
Here's a couple pages from the 2015 Versys 650 manual describing the key switch. Click to enlarge.
If you don't have an owners manual one can be downloaded for free here -> 2015 Kawasaki Versys 650 LT – Owner's Manual – 177 Pages – PDF
Here's a couple pages from the 2015 Versys 650 manual describing the key switch. Click to enlarge.


If you don't have an owners manual one can be downloaded for free here -> 2015 Kawasaki Versys 650 LT – Owner's Manual – 177 Pages – PDF