The current IT Talent Gap and tech labor shortage are causing an unprecedented number of staff vacancies within technology solution provider (TSP) teams. Due to the increasing need for cybersecurity in all industries, this sector has been hit the hardest. The vast majority (86%) of small- and medium-size businesses place cybersecurity as one of their top five priorities. Furthermore, six in 10 will invest more in cybersecurity as it reduces risks for their organization, according to the IT Talent Gap report.
While most cybersecurity companies are focusing on digital transformation and cloud-based technologies, the industry is overlooking a crucial aspect – the cybersecurity talent gap. This is equally important or even more so because of the devastating consequences a cyber-attack can have on an organization’s operations, sensitive information, and reputation. Cybersecurity is vital to help SMBs survive economic uncertainty and an increasingly complex cyber threat landscape. The State of SMB Cybersecurity in 2022 report revealed several interesting statistics related to the issue: 78% of organizations across all industries said they plan to increase their cybersecurity spending over the next year. Furthermore, 31% cited broad-level pressure in this area compared to 14% in 2020.
While the IT Skills Gap is causing similar pain points for all business leaders, solving the challenges posed by the cybersecurity industry talent gap is mission-critical. Cybersecurity is one of the most significant IT sub-sectors in the global marketplace due to the growing number and increasingly damaging effects of digital attacks. In fact, over 60% of SMBs have experienced a financially damaging cyber-attack in the past 12 months, according to research. The biggest reason is an increase in the number and effect of digital attacks. Additionally, many industries are calling for increased compliance legislation necessitating more in-depth cybersecurity protocols.
However, there is a cyber skills gap even with such high demand. The number of open cybersecurity positions dropped from 3.12 million to 2.72 million in October 2021, but the cybersecurity talent gap grew during that time. IT cybersecurity professionals reported overall higher job satisfaction and happiness levels. Data from one study shows that 2021 was the best year for cybersecurity workers, and employees in the field showed a job satisfaction rate of 77%. It stands to reason that one of the gaps in this particular IT sub-sector might have to do with questions surrounding on-site, hybrid, or remote work options. Only 15% of cybersecurity professionals expressed interest in returning to an office environment full-time, which has led to an above-average wave of resignations within this industry.
Automation can ease the burden on cybersecurity pros, especially in areas such as patching, disaster recovery, and threat detection, all of which can be automated, reducing the need for specialized talent. Automation can reduce the need for specialized cybersecurity talent, but IT execs need to be careful not to rely solely on it. Nonetheless, some highly-skilled talent will still be needed to run and monitor these systems. While automation can relieve some of the pressure caused by the labor shortage in the cybersecurity sector, it doesn’t solve it completely.
It’s also important for businesses to invest in internal training programs to upskill employees in areas such as cybersecurity. Organizations can craft and mold existing talent to fit their needs by linking cybersecurity training to specific requirements or career plans. Expanding the hiring pool is another crucial aspect. To achieve more diversity in IT roles, executives need to improve the diversity of the talent pool as a whole.
Solving the cybersecurity talent gap is imperative in the current digital landscape. Failure to fill these highly skilled tech roles makes IT companies less secure, less efficient, and less effective, leading to drastic declines in key areas of their businesses. With so much of the world running on data and IT infrastructure, this may be one of the biggest industry challenges of our time. Companies that take proactive steps to address the cybersecurity talent gap will substantially benefit from doing so and stay one step ahead of their competition.