Fortinet annual Skills Gap Report uncovers increase in breaches attributed to lack of cyber security skills

Fortinet, which positions itself as the global cyber security leader driving the convergence of networking and security, has released its 2023 Global Cybersecurity Skills Gap Report, which reveals ongoing challenges related to the cyber security skills shortage affecting organisations worldwide. Key findings from the global report include:

• The cyber security skills shortage has contributed to critical IT positions not being filled, which increases organisations’ cyber risks, such as breaches.
• Cyber security remains a priority for boards of directors and there is executive demand for increased IT security headcount.
• Technology-focused certifications are highly regarded by employers, serving as validation of skillsets.
• Organisations recognise the advantage of recruiting and retaining diverse talent to help address the skills shortage, but doing so has presented a challenge.

An estimated 3.4 million professionals are needed to fill the global cyber security workforce gap. At the same time, the 2023 Global Cybersecurity Skills Gap Report found that the number of organisations experiencing five or more breaches jumped by 53% from 2021 to 2022. One repercussion of this is that many short-staffed cyber security teams are burdened and strained as they try to keep up with thousands of daily threat alerts and attempt to manage disparate solutions to properly protect their organisation’s devices and data.

Additionally, as a result of unfilled IT positions due to the cyber skills shortage, the report also found that 68% of organisations indicate they face additional cyber risks. Other findings highlighting increased cyber risks that could be partially attributed to the talent shortage include:

• Security intrusions are increasing: One resulting cyber risk is increased breaches, with 84% of organisations experiencing one or more cyber security intrusions in the past 12 months, up from 80% from last year.
• More organisations were impacted financially due to breaches: Nearly 50% of organisations suffered breaches in the past 12 months that cost more than $1 million to remediate, which is up from 38% of organisations compared to last year’s report.
• Cyber attacks will continue to increase: At the same time, 65% of organisations expect the number of cyber attacks to increase over the next 12 months, further compounding the need to fill crucial cyber positions to help strengthen organisations’ security postures.
• The skills gap is a top concern for boards of directors: The report demonstrated that more than 90% of boards (93%) are asking how the organisation is protecting against cyber attacks. At the same time, 83% of boards are advocating for hiring more IT security staff, emphasising the demand for security talent.

The report also suggested that employers recognise how training and certifications can benefit their organisation in addressing the skills gap, while also serving as an advantage for anyone looking to advance in their current security profession, as well as for individuals considering transitioning into the field. Below are additional highlights from the report around training:

• Certifications are sought after by employers: Beyond experience, employers view certifications and training as reliable validation of an individual’s skillset, with 90% of business leaders preferring to hire individuals with technology-focused certifications, up from 81% the year before. Additionally, 90% of respondents would pay for an employee to get a cyber security certification.
• Certifications benefit both organisations and individuals: More than 80% of report respondents (82%) indicated their organisation would benefit from cyber security certifications and 95% of business leaders have experienced positive results from either their team or themselves being certified.
• Not enough professionals are certified: While certifications are highly regarded, more than 70% of respondents said it is difficult to find people with certifications.

While the report demonstrated that organisations are seeking ways to tap into new talent pools to fill cyber security roles, with eight out of 10 organisations having diversity goals as part of their hiring practices, roughly 40% of organisations indicate they have difficulty finding qualified candidates who are women, military veterans or from minority backgrounds.

• The report suggested that there was a decrease in veterans being hired compared to last year, with the number of organisations indicating they hired military veterans dropping from 53% in 2021 to 47% in 2022.
• At the same time, the report shows there was only a 1% increase year-over-year in organisations hiring women (88% in 2021 and 89% in 2022) and minorities (67% in 2021 and 68% in 2022).

To help alleviate the challenges resulting from the skills shortage, Fortinet is committed to helping organisations improve the management of cyber risks with ML-driven automation and services, as well as increased access to cyber training. As part of these efforts, Fortinet has pledged to train 1 million people in cyber security by 2026 to help increase access for security professionals and untapped talent pools looking to upskill and re-skill.

Fortinet is a sponsor at this year’s ITWeb Security Summit in Sandton, South Africa, and will be hosting a session on Security Operations at 3:10pm (local time) on 7 June. Stop by booth 12 for a range of interactive discussions and to learn more about Fortinet’s cyber security solutions.