According to a new report by a cybersecurity firm, cybersecurity skills gap contributed to 80% of breaches. Read on to know more about it…
The Fortinet 2022 Cybersecurity Skills Gap Report was released today. According to a new global report, the cybersecurity skills shortage continues to pose a number of challenges and repercussions for businesses, including the possibility of security breaches and associated financial loss. As a result, C-level executives continue to be concerned about the skills gap, which is rapidly becoming a board-level priority. The report also proposes solutions to close the skills gap, such as increased employees’ education through training and certifications.
Global Consequences of Cybersecurity Skills Shortage
According to the (ISC)2 Cyber Workforce Report for 2021, the global cybersecurity workforce must grow by 65% in order to effectively defend critical assets of organizations. While the number of professionals required to fill the gap has reduced in the last year from 3.12 million to 2.72 million, it remains a considerable deficit that puts enterprises at risk.
Vishak Raman, Vice President of Sales, India, SAARC and SEA at Fortinet said “According to the Fortinet report released today, the skills gap isn’t just a talent shortage challenge, but it’s also severely impacting business, making it a top concern for executive leaders worldwide. Through Fortinet’s Training Advancement Agenda (TAA) and Training Institute programs, we are committed to tackling the challenges revealed in the report through various initiatives, including programs focused on cybersecurity certifications and recruiting more women into cyber. As part of this commitment, Fortinet has pledged to train 1 million professionals to increase cyber skills and awareness and make a dent in the skills gap by 2026”
The cybersecurity skills gap poses several hazards, according to Fortinet’s research. Most significantly, 8 out of 10 businesses questioned had experienced at least one breach that can be traced back to a lack of cybersecurity knowledge or awareness. According to the poll, 64 percent of firms have encountered data breaches that resulted in revenue loss, recovery costs, and/or fines.
Given the rising cost of breaches on organizations in terms of profitability and reputation, cybersecurity is becoming a higher priority at the board level. Throughout the world, 88% of firms with board of directors revealed that their board particularly asks questions about cybersecurity. In addition, 76% of companies who have a board of directors have advocated hiring more IT and cybersecurity staff.
Training and Certifications for Advance Cybersecurity Skills
In addition to recognizing certifications, 87% of organizations have implemented a cyber awareness training program. However, 52% of leaders say their employees still lack the requisite knowledge, raising concerns about the effectiveness of their current security awareness programs.
Fortinet offers a Security Awareness and Training service through the award-winning Fortinet Training Institute for enterprises looking for security awareness training. By increasing employee cybersecurity awareness, the solution further safeguards enterprises’ essential digital assets from cyber threats. This service receives updates from Fortinet’s FortiGuard Labs threat intelligence to ensure that employees are learning and staying up to date on the latest emerging cyberattack methods in order to avoid company breaches and cybersecurity risks.
Using Diversity Commitments to Help Recruitment and Retention Challenges
Finding and retaining the right personnel to fill critical security roles ranging from cloud security specialists to SOC analysts has been a big concern for enterprises. According to the report, 60% of leaders confess that their company has difficulty recruiting and 52% have difficulty retaining employees.
Women, recent college grads, and minorities are among the hurdles in hiring. Recruiting women and new graduates is a major hiring challenge for 7 out of 10 leaders globally, and 61% say hiring minorities is challenging. According to the report, 89% of global organizations have explicit diversity goals as part of their hiring strategy as they seek to establish more capable and diverse teams. The report also highlights, 75% of companies have formal structures in place to specifically recruit more women, while 59% have strategies in place to hire minorities. Furthermore, 51% of firms are making efforts to hire more veterans.