Large organizations have significantly strengthened their cyber workforce this year, with a particular focus on companies with revenues exceeding $1 billion. According to Wavestone’s “Cyber Benchmark 2024” report, these organizations now have, on average, one cyber professional per 1,086 employees, marking a 15% increase from the previous year when the ratio was one cyber expert per 1,285 employees.
Financial businesses emerged as the leaders in cultivating a robust cyber workforce within their organizations, boasting an average of one cyber expert per 267 employees. In contrast, industrial groups lag behind significantly with an average of one cyber expert per 1,390 employees.
Commenting on this trend, Wavestone partner Germone Billois expressed optimism about the growing emphasis on cyber defenses among large enterprises. He noted, “This is a very positive sign that large enterprises have acknowledged the need for a strong cyber workforce. More and more companies have launched initiatives to ensure talent retention.”
Aside from workforce data, the report also highlighted that the overall cyber readiness level of surveyed organizations has reached 53%, with some companies achieving impressive cyber-maturity levels ranging from 80% to 90%. Budget allocations for cybersecurity have stabilized at an average of 6.6% of IT budgets across all sectors. Additionally, notable progress has been made in the maturity development of cloud security and data security programs, showing a 5% and 4% increase, respectively, compared to 2023.
Despite the progress made in various areas, organizations still face challenges in certain domains. For instance, third-party security and industrial system security (ICS) have average maturity levels of 48.9% and 39.9%, respectively, indicating areas that require further attention and improvement.
As organizations continue to navigate the evolving cybersecurity landscape, it is essential for them to address these shortcomings and invest in enhancing their overall cyber resilience. By prioritizing talent development, implementing robust security measures, and staying proactive in the face of emerging threats, companies can strengthen their defenses and mitigate risks effectively.
In a rapidly changing threat landscape, staying ahead of cyber adversaries requires a holistic approach that encompasses technology, processes, and most importantly, skilled professionals. With the right strategies in place, organizations can bolster their cyber workforce and fortify their security posture to safeguard against potential cyber threats.