Fortinet’s latest Global Cybersecurity Skills Gap Report paints a concerning picture: the cybersecurity skills gap is widening, and businesses are increasingly feeling the sting.
Key Findings:
- Skills Gap Fuels Breaches: Nearly 90% of organizations reported a security breach in the past year that they partly attribute to a lack of cybersecurity skills. This number has risen steadily from 84% in 2023 and 80% the year before.
- Breaches Cost Millions: Cyberattacks are taking a bigger financial bite. Over half of respondents said breaches cost their organizations over $1 million in lost revenue, fines, and other expenses.
- Boards Take Notice: Cybersecurity is becoming a boardroom issue. 72% of respondents reported that their boards are more focused on cybersecurity than ever before, and 97% agree boards see it as a business priority. Executives are also being held accountable, with 51% reporting directors or executives facing consequences like fines or job loss after a breach.
- Certifications Matter: Certifications are a valuable asset for cybersecurity professionals. Over 90% of hiring managers prefer candidates with certifications, and 89% of respondents said they would pay for employees to get certified. However, finding certified talent remains a challenge, with over 70% reporting difficulty filling positions requiring tech-focused certifications.
- Expanding the Talent Pool: Organizations are looking beyond traditional backgrounds to fill cybersecurity roles. 83% of respondents have diversity hiring goals, but attracting women (85%), minorities (68%), and veterans (49%) remains a challenge. While certifications are valued, traditional requirements persist, with 71% still requiring four-year degrees and 66% only hiring from traditional training backgrounds.
Fortinet recommends a multi-faceted approach to address the skills gap and build cyber resilience:
- Upskilling IT and Security Teams: Invest in training and certifications to equip existing teams with the skills they need.
- Cultivating a Cyber-Aware Workforce: Train all employees to identify and report suspicious activity, forming a human firewall.
- Implementing Effective Security Solutions: Utilize robust security technology to bolster defenses.
The Skills Gap Survey included over 1,850 IT and cybersecurity decision-makers from 29 countries across various industries, including technology, manufacturing, and financial services.