Survive & Thrive: Your Business and the Cybersecurity Skills Shortage

The cybersecurity skills shortage is getting worse, not better. Almost three quarters of organizations report that they’ve been impacted by the shortage, according to a study conducted by the Information Systems Security Association (ISSA) and Enterprise Strategy Group (ESG). More bad news: the study also showed that the skills shortage is linked to the rise in security incidents, as businesses lack the staff to keep up with growing cybersecurity workloads as well as proper end-user awareness training.

Organizations are struggling to make meaningful progress in this environment. They spend a lot of time talking about controls and risk management, but at what point do we stop talking and start doing? This is where the cybersecurity skills shortage puts us between a rock and a hard place.

Your customers and clients want to know that you’re actively working to keep their data safe – and there are big consequences if you don’t. The Ponemon Institute’s “2018 Cost of a Data Breach Study” found that companies that lost 4% or more of their customers after a data breach experienced an average total cost of $6 million. You can see how the cybersecurity skills shortage can have a big impact on your bottom line.

As the cybersecurity workforce gap reaches close to 3 million globally (according to the (ISC)² Cybersecurity Workforce Study), it’s become a lot more difficult for organizations to protect their assets and secure client data.

So, why is the shortage happening and what can your organization do to curb its effect on your business?

The truth is, the way organizations currently solve complex cybersecurity problems and the associated staffing issues is just not working. This is because:

  • Success requires unique expertise
  • Resources are in short supply
  • Resources are expensive
  • Resources are in high demand

It’s time to address cybersecurity in a meaningful way. This means building a proactive cybersecurity program based on risk and working with strategic partners to introduce flexibility in terms of both resource management and the optimization of workloads across functions.

The Bottom Line

Hiring can only get your business so far. You need to optimize your security functions in ways designed to streamline competencies and transform your operational plans into true revenue generators. The cybersecurity skills shortage means that you need to start thinking about your business in a new way. At the end of the day, we’re all at risk.

Are you ready to approach cybersecurity from the perspective of solving specific business problems? Click below to download our eBook to learn more about the problems facing cybersecurity, how to leverage strategic partners, and how to build a program that helps you meet business goals.