It isn’t exactly a well-kept secret that cyber security has become a primary concern for an alarming number of businesses.

The financial, reputational and operational risk that malware or ransomware carries is growing by the day; but the number of people who can protect a company’s digital infrastructure from hackers is dwindling.

The impact is potentially devastating as organisations fail to find alternative methods of sourcing cyber security talent.

Cyber security talent shortage by the numbers

Businesses can have the most expensive technologies at their disposal to detect network intruders and prevent malicious threat actors, but they’ll be at a loss as to how they can remediate incidents without the help of cyber security professionals.

Based on recent findings, the absence of trained staff is a commonality across the world: 46 percent of companies need six months or longer to fill cyber security positions.

The issue will only become more prevalent as years pass. It’s estimated that there will be a cyber security skills gap of roughly 350,000 in Europe by 2022, according to Frost & Sullivan.

Not only does this leave companies susceptible to an attack as they try to fill an open position, but internal resources are also negatively impacted, according to ESG Research:

• 63 percent of companies struggling to hire cyber security experts increased the workload of existing employees to cope.
• 41 percent of businesses were forced to hire and train new staff instead of hiring certified professionals.
• 39 percent of organisations reported an inability to fully utilise and maximise the return on investment of security technologies.

The talent shortage has become so widespread and pervasive that it has quietly turned into a cyber security threat in itself.

Risks of the cyber security talent shortage

The idea that cyber security technologies are enough on their own to keep hackers at bay is implausible given the speed at which malicious threat actors are attacking and evolving.

Consider this: Nearly 30 percent of Kaspersky Lab users were targeted by at least one malware attack in 2017. That was after the platform stopped roughly 1.18 billion attacks over the course of the year.

Not all malware is made the same, either. Over 15.7 million unique threats and almost 200 million malicious URLs were discovered in 2017. Criminals are constantly evolving their techniques to evade the most basic cyber security defences.

During the time spent searching for new cyber security analysts, the organisation could suffer an incident, which can have a wide range of negative impacts.

It’s difficult to ascertain an average cost of a cyber security incident given how every attack is unique in nature, but IBM pegs the cost of a data breach at roughly $3.62 million. This is likely due to the operational, legal and financial burdens associated with it.

Overcome the talent shortage with Connect360

Your company isn’t the only one looking to add information security talent to its team. A high level of competition coupled with a shortage at the most in-demand positions has made it increasingly difficult for businesses to find candidates that have the specific skills needed to oversee their digital environment.

Connect360 is a purpose-built placement service that aims to alleviate the resourcing concerns. It’s designed to help our clients find the best talent the industry has to offer for pre-determined contracts within their companies.

The Connect360 team has developed extensive networks that allow them to find and place skilled candidates with niche skill sets for the positions in your company that are the most difficult to fill. The service significantly cuts down on the average hiring time, and each candidate is thoroughly vetted to ensure his or her certifications and qualifications match the role and responsibilities that they’ll be taking on.

Businesses using Connect360 benefit from the:

• Guaranteed expertise: Don’t waste any more time hoping a recruitment agency understands the exact skill set your company needs from candidates. All employees placed by Connect360 have been technically validated by our experienced staff.
• Wide range of candidates: Integrity360 utilises its 13 years of experience in the industry to find the best talent available.
• Efficient process: Greatly reduce the time it takes to fill open positions so your cyber security strategy doesn’t suffer from a lack of resources.
• Flexible offerings: Connect360 is an agile service that allows you to set the parameters, from how long the contract lasts to what the business requirements are.

The cyber security talent shortage can represent a major risk to organisations that are unable to fill positions quickly. Connect360 ensures those roles are filled with the best talent available.