Due to unfilled IT positions 84% of organizations in India indicate they face additional cyber risks.
A recent study by Fortinet highlights that the shortage of cybersecurity skills is causing critical IT positions to remain unfilled, which in turn is increasing the cyber risks for organizations, such as data breaches. The 2023 Global Cybersecurity Skills Gap report indicates that 24% of Indian organizations have experienced five or more breaches due to this shortage. This has put a significant burden on already understaffed cybersecurity teams, who struggle to manage the vast number of daily threat alerts and disparate solutions necessary to protect their organization's devices and data. The study surveyed more than 1,800 IT and/or cybersecurity decision-makers from 29 different locations, including industries such as technology (21%), manufacturing (16%), and financial services (13%).
Additionally, as a result of unfilled IT positions due to the cyber skills shortage, the report also found that 84% of organizations in India 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 92% of organizations in India 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 half 43% of organizations in India suffered breaches in the past 12 months that cost more than $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, 69% of Indian 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 94% of Indian boards are asking how the organization is protecting against cyberattacks. At the same time, 90% of boards are advocating for hiring more IT security staff, emphasizing the demand for security talent.
Upskilling Security Professionals and Developing More Talent with Training
The report also suggested that employers recognize how training and certifications can benefit their organization in addressing the skills gap, while also serving as an advantage for anyone looking to advance in their current security profession, as well as for individuals considering transitioning into the field. Below are additional highlights from the report around training:
- Certifications are sought after by employers: Beyond experience, employers view certifications and training as reliable validation of an individual’s skill set with 98% of Indian business leaders preferring to hire individuals with technology-focused certifications, up from 81% the year before. Additionally, 84% of respondents would pay for an employee to get a cybersecurity certification.
- Certifications benefit both organizations and individuals. More than 80% of report respondents (86%) indicated their organization would benefit from cybersecurity certifications and 100% of business leaders have experienced positive results from either their team or themselves being certified.
- Not enough professionals are certified: While certifications are highly regarded, more than 80% of respondents said it is difficult to find people with certifications.
Increasing Opportunities for Women and Veterans Can Help Solve the Skills Gap
While the report demonstrated that organizations are seeking ways to tap into new talent pools to fill cybersecurity roles, with 9 out of 10 Indian organizations having diversity goals as part of their hiring practices, roughly 43% of organizations indicate they have difficulty finding qualified candidates who are women.
- The report suggested that Indian companies hired more veterans 67% when compared to 47% globally.
- At the same time, the report shows there were more women in cybersecurity roles in India 94% when compared to 89% globally.
- The survey was conducted among more than 1,800 IT and/or cybersecurity decision-makers from 29 different locations.
- Survey respondents came from a range of industries, including technology (21%), manufacturing (16%), and financial services (13%).