Are you or your company feeling the effects of the cybersecurity labor shortage?
Cybercriminals are working to steal private information and data from businesses of all sizes and industries. You can protect your business from these attackers if you have a large cybersecurity budget and the right talent in place. But with demand for cybersecurity professionals at an all-time-high you may be struggling to fill the gap.
Why is cybersecurity important?
Cybersecurity is important for businesses of all sizes. Reasons that your business may be looking for cybersecurity professionals could be due to compliance issues, past breaches, loss of reputation, protection of critical infrastructure, intellectual property, or protection of sensitive data.
Another reason cybersecurity is important is because of the cost of a breach if you are hacked. The average cost of a data breach in the US is 4.35 million according to IBM’s 2022 Cost of a Data Breach Report.
Many small businesses don’t believe they are at risk of a cybersecurity breach because they don’t think cyber criminals would want to steal from them. Boise State University’s Institute for Pervasive Cybersecurity ‘CyberDome’ manager, Marlin Roberts recently stated, “Well, the days of being safe simply because you were small and unimportant are gone.” Most small businesses don’t have any protection in place from a cyber-attack, making them a key target for attackers. It’s estimated that 60% of small businesses go out of business six months after a cyber-attack.
Cybersecurity is also important because of the peace of mind it brings when it comes to protecting your business against costly malware, ransomware, and bots. No matter the size or industry of your business you should be prepared for some form of cyber-attack. It’s no longer a matter of whether an attack will happen, but when it will happen.
Read more Cybersecurity Do’s and Don’ts
Why is it difficult to fill cybersecurity roles?
The need for cyber professionals stems from the need to increase our protection online. In today’s digital world, many companies manage some aspect of their business online. Companies everywhere are looking to hire cybersecurity professionals to keep their data protected. But these cyber professionals must have certain credentials to keep on top of education requirements. Some of these credentials might include a bachelors or masters degree, Certified Information Systems Security Professionals (CISSP) certification, or Certified Information Systems Auditor (CISA) certification. Finding individuals with these credentials along with the added want for years of real-world experience, makes it increasingly difficult to find cybersecurity talent.
Cybersecurity roles also require high-paying salaries. An average cybersecurity salary could range from $80k-$200k+. Regardless of the size of your business, you may be having difficulty when it comes to having a large enough budget for a team of cybersecurity professionals or being able to source the right cybersecurity talent. If that is the case, it’s important that you invest in a cybersecurity platform. A good cybersecurity platform should provide you with a holistic and integrated way of managing your cybersecurity program. It should replace the outdated, traditional ways of tracking and analyzing compliance. It should be robust and the modules should be able to communicate with one another. It should ultimately be a roadmap to reaching your cybersecurity goals.
Learn more CyberAdvantage Management Platform (CMP)
Are some industries in higher demand for cyber professionals?
The healthcare industry is always at a high risk, due to the personal information associated with its clients. For the 12th consecutive year, the healthcare industry is on IBM’s Cost of a Breach Report as the highest average cost of a breach. The report went on to say, “cost of healthcare breaches increased by 41.6% since the 2020 report. Financial organizations had the second highest costs — averaging USD 5.97 million.”
Research from Emsi Burning Glass shows that in recent months, financial services requested more cybersecurity workers than professional services companies. One statistic shows that there are 168,000 cybersecurity job openings in finance and insurance and the total employed workforce is 234,000. The financial industry relies on compliance and cybersecurity plays a major role in staying compliant. A bank can’t risk losing private information and the possibility of losing the trust of its customers. Cybersecurity ensures that the bank isn’t at risk of a data breach.
What is the cybersecurity industry like in Idaho?
In May of 2022, Idaho’s Governor Brad Little and his Cybersecurity Task Force released 18 major recommendations to improve Idaho’s resistance to cyber-attacks. The recommendations included things like increasing education for K-12 computer science and math literacy and increasing the budget for cybersecurity in Idaho.
According to CyberSeek, there are more than 5,000 cybersecurity jobs open around Idaho. Nearly 3,500 openings are in the Boise Metro area. Idaho schools are looking to help fill cybersecurity workforce needs. One such school is the Institute of Pervasive Cybersecurity ‘CyberDome’ at Boise State University. The program pairs cybersecurity students with rural communities and businesses in Idaho that are in need of service. This gives future professionals real-world experience and provides security for businesses to be better protected against cybercriminals.
Read more Idaho Is Bolstering Cybersecurity Efforts and so Should You
What is the cybersecurity industry like throughout the US?
This is not just a problem in Idaho, the need for cyber professionals is an issue throughout the country. Companies are desperate for cybersecurity workers. More than 700k positions need to be filled throughout the US. According to Cyberseek, the US only has enough cybersecurity workers to fill 68% of the jobs that employers are looking to fill.
With recent global circumstances, it is more important than ever to protect yourself and your organization from cybercriminals. The Cybersecurity and Infrastructure Security Agency (CISA) and the Department of Homeland Security (DHS) have issued warnings that “every organization in the US is at risk from cyber threats.” They’ve encouraged all US businesses to keep their “Shields Up” during this particularly uncertain time.
Read more Shields Up: Preparing for Cyber Attacks
What can my company do if we are unable to hire a team of cybersecurity professionals?
You can still protect your business without a large budget or team of professionals if you have a strong cybersecurity program in place. If you are looking to improve your cybersecurity program a cybersecurity platform is a good place to start.
CRI’s CyberAdvantage Management Platform is an all-in-one cybersecurity platform. This software fills the gap in managing the many aspects of a cybersecurity program and replaces outdated, traditional ways of tracking and analyzing IT risk and compliance. With this streamlined platform you can access six modules in one user-friendly platform. Modules available include compliance, security testing, vendor cybersecurity, incident response, risk management, and user training.
To learn more about our platform contact us here or uncover the strengths and weaknesses of your cybersecurity program by filling out our cybersecurity blueprint.
The first step: complete your cybersecurity blueprint exercise
Uncover the strengths and weaknesses of your current cyber efforts.