USCSI® Resources/cybersecurity-insights/index
Tackling Cybersecurity Talent Shortage in 2024 Made Easy

Tackling Cybersecurity Talent Shortage in 2024 Made Easy

The world of cybersecurity has been hard-pressed against the astounding cybercrime rate. Each year marks a new high for the number of crimes and infiltration addressed by corporations, businesses, individuals, banking, and other institutions of all sizes. It is time to hire enough cybersecurity expert talent to guard the systems and sensitive data.

Cybercrime is predicted to cost the world USD 9.5 trillion in 2024 (Cybersecurity Ventures). This could just be the beginning of a year that damages the reputation and credibility of the global giants in no time in the future. This sounds scary, isn’t it?

Let us look at the current trends in the Cybersecurity Talent Gap:

  1. Cyberseek comes up with a score of 663,434 job openings for cybersecurity professionals in the United States. Businesses are operating with around two-thirds of the needed cybersecurity skills.
  2. World Economic Forum Cybersecurity Outlook 2023 showcased a dramatic score, revealing only 14% of banking leaders reported having the cybersecurity talent that they need onboard.

Looking at these alarming numbers, one fact is clear, there is an urgent need to hire quality and credible cybersecurity leaders who can build the cyber industry stronger and effectively guarded. They will throw enough light on the prospective cybersecurity trends that can defeat the entire purpose of security in the future.

The impact of the current talent gap can be easily seen in the futuristic turnout by Gartner who says;

By 2025, the lack of cybersecurity specialists or a scarcity of talent will be responsible for over 50% of significant cybersecurity incidents. This creates an added burden on the current workforce to churn out effectively trained cybersecurity experts. Becoming readily available and easy-to-hire talent is the need of the cybersecurity industry today.

Be what the industry wants you to be. Yes, you read that right! Offering the cybersecurity skills and an empowered portfolio with best cybersecurity certifications to validate. Let us understand how the grim situation of the severe talent gap can be handled with ease.

Causes of Talent Shortage:

  • Demand over Supply

    The sheer dearth of qualified professionals is largely due to the astoundingly rapid evolution of the cybersecurity industry and cyber threats. It would not be incorrect to say that companies worldwide have begun to realize the impact of a skilled cyber professional to guard their data.

  • The Fortune 500 Effect

    Larger companies with a vast pool of resources can attract and retain top cybersecurity talent; leaving almost nil chances for their competitors to get their hands on them.

  • Diversity Impact

    This is a massive reason that pulls down the people entering cybersecurity. Rooting from a STEM background, women and minorities are just a handful portion of the vast majority. People from diverse backgrounds can bring diverse perspectives to problem-solving; which is the key skill for a cybersecurity professional.

  • Cybersecurity at the ‘Back Burner’

    Deprioritizing cybersecurity has been a culture as many organizations believed they were not susceptible to a cyberattack. Lack of attention and power thrust on cybersecurity has led to a talent shortage as well.

  • Complex Systems at play

    Cybersecurity systems are becoming increasingly complex due to large-scale rapid digitization and the shift to the cloud, utilizing new technologies.

  • Legacy System Continue

    Many organizations continue to run legacy systems as they are not easy to migrate from, and the demand for skill shoots up eventually.

Impact of Talent Shortage on Security:

  • Hiring Freeze
  • Difficult Adoption of Newer Technologies
  • Increased Business Inequality
  • Hiring Disparity

Overcoming Cybersecurity Talent Shortage by the Companies:

  1. Best practices to broaden the recruitment processes
    • Designing flexible job criteria to enable a vast majority to apply for the roles offered
    • Customizing hiring processes as per the candidates’ segment
    • Consider Alternate Talent Models
  2. Attracting, training, and retaining talent

    Widen the hiring pool to be more inclusive and diverse. Allow enough space to showcase their current talent and what they are doing to help others enter the industry; which can be facilitated by training programs, internships, and apprenticeships.

  3. Must have Inclusion Strategies

    Hiring diverse candidates brings specific skills and characteristics that are beneficial to cybersecurity teams. Alongside, defining communication best practices can go a long way to strengthening the entire process.

  4. Government Initiatives

    Educational institutions with governments must chalk out a program or focus on expanding ed-tech opportunities, degree programs, and cybersecurity certifications for the keen workforce to build a .

  5. Using integrated automation technologies

    Operations could be boosted by devising integrated automation technologies that can reduce the demand for skills by making certain systems smarter and easier to use.

  6. Vulnerable industries such as Banking, must offer higher salaries to attract cybersecurity professionals
  7. Organizations to partner with colleges and universities to enable internship programs for next-generation.
  8. Turning IT Professionals into Cybersecurity Experts

    Upskilling and reskilling must become the go-to options for organizations to fill the gap with quality training resources and online platforms.

  9. Rethinking job expectations and requisites

    Think out-of-the-box while expecting a skillset pool from a on offer.

  10. Fostering a culture of cybersecurity

    Implementing comprehensive cybersecurity education programs can bridge the gap through regular training sessions for an updated talent pool.

  11. Bringing in sophisticated technology and automation

    Advanced analytics and functionality to monitor, detect, and promptly respond to malicious threat actors automatically frees up the staff from the burden.

  12. Collaborating with a specialized service provider

    Partnering and outsourcing is the key when things go out of hand for an organization in the realm of cybersecurity.

Essential Pre-requisites for a Cybersecurity Career:

Understanding the dire need for a specialized workforce in the cybersecurity industry demands exceptional cybersecurity skills and competence. No doubt, to begin with, your basic educational background in STEM is the way to go. But when targeting bigger career goals, it is essential to power up your credentials and capabilities with the best cybersecurity certifications from a trusted industry leader. This will allow enough space to grow and excel in a career that spans worldwide with amplified rewarding opportunities.