Intelligent CIO North America Issue 33 | Page 24

• Cybersecurity 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 skill sets
• Organizations recognize the advantage of recruiting and retaining diverse talent to help address the skills shortage , but doing so has presented a challenge
The costly reality of the increasing cybersecurity skills gap
An estimated 3.4 million professionals are needed to fill the global cybersecurity workforce gap . At the same time , the 2023 Global Cybersecurity Skills Gap Report found that the number of organizations experiencing five or more breaches jumped by 53 % from 2021 to 2022 . One repercussion of this is that many shortstaffed cybersecurity 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 organization ’ s devices and data .
Additionally , as a result of unfilled IT positions due to the cyberskills shortage , the report also found that 68 % of organizations 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 organizations experiencing one or more cybersecurity intrusions in the past 12 months – up from 80 % from last year
• More organizations were impacted financially due to breaches : Nearly 50 % of organizations suffered breaches in the past 12 months that cost more than US $ 1 million to remediate , which is up from 38 % of organizations compared to last year ’ s report
• Cyberattacks will continue to increase : At the same time , 65 % of organizations expect the number of cyberattacks to increase over the next 12 months , further compounding the need to fill crucial cyber positions to help strengthen organizations ’ 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 organization is protecting against cyberattacks . At the same time , 83 % of boards are advocating for hiring more IT security staff – emphasizing the demand for security talent
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