Skills gaps leaving orgs exposed to more cyber risk

More than two-thirds (68%) of organisations worldwide report facing additional cyber risks due to the ongoing cyber skills shortage, according to research from Fortinet.

The 2023 Global Cybersecurity Skills Gap report, based on surveys of IT leaders in 29 countries including Australia and New Zealand, found that there is an estimated shortage of 3.4 million professionals needed to fill the global cybersecurity workforce gap.

The survey found that the number of organisations experiencing five or more breaches jumped by 53% from 2021 to 2022, in part due to this skills shortage.

In total 84% of organisations experienced one or more cybersecurity intrusions in the last 12 months. Nearly half of organisations suffered breaches during this time that cost more than US$1 million ($1.48 million) to remediate.

Meanwhile, 65% of organisations expect the number of cyber attacks to increase over the next 12 months.

Employers are increasingly recognising that training and certifications can help address skills shortages. Around 90% of business leaders prefer to hire individuals with technology-focused certifications and 90% would pay for an employee to receive a cybersecurity certification.

More than four in five respondents indicated that their organisation would benefit from such certifications and 95% have experienced positive results from having a team member or themselves be certified. Despite this, more than 70% of respondents said it is difficult to find people with certifications while hiring.

Fortinet has pledged to train 1 million people in cybersecurity skills by 2026 to help address the skills shortage as part of its commitment to helping organisations improve the management of cyber risks.

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