Fortinet Releases 2024 Global Cybersecurity Skills Gap Report

Fortinet has published its 2024 Global Cybersecurity Skills Gap Report, shedding light on the persistent challenges posed by the cybersecurity skills shortage in India. The report identifies several key issues faced by organizations:

• Attribution of Breaches to Skills Gap: Many organizations are increasingly linking cybersecurity breaches to a shortage of skilled professionals.
• Consequences of Breaches: Breaches continue to have serious impacts on businesses, with executive leaders often facing penalties.
• Importance of Certifications: Employers regard certifications as crucial validation of cybersecurity skills.
• Diverse Talent Pools: There remain significant opportunities to address the skills shortage by hiring from diverse talent pools.

Global Impact of the Cybersecurity Skills Gap

The report highlights that the global cybersecurity workforce needs an estimated 4 million professionals to fill existing gaps. In India, 80% of organizations reported that the shortage of cybersecurity skills introduces additional risks to their operations. Other significant findings include:

• Linking Breaches to Skills Shortage: Over 90% of Indian organizations reported experiencing breaches they attribute, at least in part, to a lack of cyber skills. This is consistent with the 93% reported in 2023.
• Impact on Business: The report indicates that breaches have severe repercussions, including financial losses and reputational damage. In India, 82% of respondents noted that corporate leaders faced penalties, such as fines or job loss, following a cyberattack. Additionally, 66% reported that breaches cost their organizations more than $1 million in lost revenue, fines, and other expenses, an increase from 43% in the 2023 report.
• Cybersecurity as a Business Imperative: Cybersecurity continues to be a priority for executives and boards of directors, with 80% of respondents noting increased focus on security in 2023. Furthermore, 98% of respondents stated that their board views cybersecurity as a business priority.

Value of Certifications and Continued Learning

The report underscores the value employers place on certifications as proof of cybersecurity knowledge:

Preference for Certified Candidates: All respondents from India indicated a preference for hiring candidates with cybersecurity certifications.

  

Certifications and Security Posture: 92% of respondents in India are willing to pay for employees to obtain cybersecurity certifications, viewing them as critical for improving security posture.

  

Challenges in Finding Certified Candidates: Over 70% of respondents reported difficulties in finding candidates with technology-focused certifications.

Addressing the Cybersecurity Skills Gap by Expanding Hiring Criteria 

As the cybersecurity skills gap persists, some organizations are broadening their hiring criteria:

Diversity Hiring Goals: 94% of organizations in India have set diversity hiring goals for the coming years.

  

Fluctuations in Diversity Hiring: Despite ongoing efforts, the percentage of female hires in India has decreased to 90%, down from 94% in 2022 and 80% in 2021.

  

Preference for Traditional Backgrounds: 92% of organizations in India still require candidates to have a four-year degree, and 60% prefer candidates with traditional training backgrounds.

Building Cyber Resiliency: A Three-Pronged Approach

The report notes a growing emphasis on strengthening cyber defenses through a combined approach of training, awareness, and technology:

Training and Certifications: Organizations are investing in training and certifications to equip IT and security teams with essential skills.

  

Cyber-Aware Workforce: Developing a cyber-aware frontline staff is seen as a critical defense strategy.

  

Security Solutions: Implementing effective security solutions is key to maintaining a strong security posture.

Fortinet supports these initiatives through its Fortinet Security Fabric platform, offering a comprehensive portfolio of enterprise-grade products. The Fortinet Training Institute also plays a role by providing cybersecurity training and certification opportunities, including programs aimed at building a cyber-aware workforce.

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