Connect with us

Hi, what are you looking for?

OPINIONS

How the global cybersecurity skills shortage is impacting business

A Forbes Insights survey commissioned by Fortinet found that CISOs are looking for more talent and need better training for employees. While this is taking place, they must also take care to consider how this gap is impacting the business as a whole, including their current employees.

By Rob Rashotte
Vice President, Global Training & Technical Field Enablement, Fortinet

Far too often security is being overlooked in a rush to embrace digital innovation. As a result, as businesses rapidly adopt new technologies and computing platforms, they are also opening the door for cybercriminals who are looking to gain access to valuable data.

With this in mind, cybersecurity needs to play a central role in all digital transformation efforts – a strategy known as security-driven networking. However, many of these same businesses are also facing the challenges of the growing cybersecurity skills shortage, which can lead to unfilled roles with traditional areas of responsibility, such as identifying, patching, and updating vulnerable systems. While there is a clear need for individuals who can effectively manage these threats, security talent is difficult to find. 

How the Skills Shortage Impacts Business

According to a study conducted by (ISC)2, the global shortage of cybersecurity professionals has now surpassed 4 million – which means the global cybersecurity workforce must now grow at a staggering rate of 145% each year just to meet the growing demand for skilled talent. While there has been an uptick in universities offering cybersecurity degrees, that will barely make a dent in the workforce gap. CISOs will also need to work to address the cybersecurity skills shortage within their organizations, leveraging things like internal training, paying for certification courses, and establishing effective mentoring programs.

Advertisement. Scroll to continue reading.

A Forbes Insights survey commissioned by Fortinet found that CISOs are looking for more talent and need better training for employees. While this is taking place, they must also take care to consider how this gap is impacting the business as a whole, including their current employees.

It is no secret that understaffing can put pressure on those employees required to pick up the slack. This stress can result in decreased productivity and employee burnout, which can often lead to human error. Without a security team that is fully rounded out and able to work as efficiently – and effectively – as possible, organizations may face network intrusions, data loss, and reputational damage. And from a financial standpoint, businesses lose an average of $3.86 million when impacted by a data breach. 

Why CISOs Need to Address This Challenge

The impact of the skills shortage is too powerful to ignore and requires intervention. This is where an effective strategy driven by the CISO comes in. The evolution of the CISO has expanded the role from being a technologist solely focused on managing an organization’s security risks, to also being a business strategist able to reach across organizational boundaries to shape and mobilize resources to enable things like secure digital transformation. 

In today’s threat landscape, security solutions alone are no longer enough to withstand modern cyber threats. The expanding responsibilities of the CISO and the organizational impact of today’s cybersecurity skills shortage both play a critical role in the success of an organization’s digital transformation efforts and security strategies. While an effective CISO can provide essential guidance, a skills shortage can present uncertainties that can still adversely affect the productivity and morale of the security team – which can directly impact the overall security of the organization.

Taking Advantage of Current Talent

Of course, the skills shortage has made new talent difficult to find – which is precisely why CISOs must establish, or reinvigorate, training and education programs for their current employees., combined with an effective mentoring program to quickly bring entry-level team members up to speed. By investing time and efforts into existing team members, security leaders can actively provide more value to their organizations without having to rely solely on seeking new talent. Additionally, employees will gain new skills that will not only help them to do their job more efficiently, but also make them feel more confident while doing it.

Advertisement. Scroll to continue reading.

There is no one way to handle cybersecurity training and education. Recognizing this, Fortinet offers a range of training curriculum through its NSE Institute programs, comprised of the NSE Certification program, Fortinet Network Security Academy (FNSA) and the Fortinet Veterans (FortiVet) program. Organizations that prioritize ongoing training and mentoring programs will demonstrate a sense of devotion to their employees, which will, in turn, encourage potential internal candidates to join the cybersecurity team. With the right program in place, CISOs can open the door to a wider range of individuals who are willing to learn, even if they had not originally planned to work in this field.

For CISOs to see success, they must start by evaluating their employee’s skills, capabilities, and experience, identify where the most need lies, and then build custom programs that include internal and external training, the selection and mentoring of internal candidates, and then filling gaps through specific hiring strategies. While some may require an introduction into the basics of the threat landscape, others may have the background knowledge required to master complex network security concepts. 

Advertisement
Advertisement
Advertisement

Like Us On Facebook

You May Also Like

HEADLINES

In rigorous evaluations conducted by prestigious cybersecurity testing organizations, Kaspersky Plus (starting in Q4 2024, Kaspersky Premium), Kaspersky Endpoint Security for Business (KESB), and...

HEADLINES

"Given the Philippines' high exposure to cyber threats, it's important for both individuals and businesses to stay vigilant," said Adrian Hia, Managing Director for...

White Papers

When compared to 2023, Sophos saw a 51% increase in abusing “Living off the Land” binaries or LOLbins; since 2021, it’s increased by 83%.

HEADLINES

Someone illegally acquires or uses personal information such as bank account or credit card numbers of another person to obtain money, goods or services....

HEADLINES

The partnership enables MCU to integrate Fortinet’s Network Security Expert (NSE) training and certification program into its academic offerings, either as part of the curriculum or...

HEADLINES

To stay ahead of these challenges, organizations need to invest in AI-driven defenses, transition to quantum-safe encryption, and adopt a Zero Trust approach to...

HEADLINES

There was a 121% Year-on-Year (YoY) increase in identity fraud in 2024 across the region, with significant surges recorded in Singapore (207%), Thailand (206%)...

HEADLINES

As part of RCBC’s 2024 Cybersecurity literacy program, the webinar aims to help Filipinos level up their online banking safety by providing them with...

Advertisement