Global IT companies needed a reality check with their existing access management and posture assessment guidelines. After the recent Microsoft-Crowdstrike fiasco, most cloud-based companies are evaluating their security investments. They are increasingly realizing the criticality of securing their digital assets from attacks and chasing cybersecurity professionals who can take up this important task of keeping the assets protected and upgrading the systems without relying on third-party service providers.

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Cybersecurity certifications can help.

Cybersecurity threats pose significant risks to businesses across all sectors. These threats can lead to data breaches, operational disruptions, financial losses, reputational damage, and other adverse effects. The initial step in preventing cyberattacks is identifying potential threats specific to your industry and the types of data you store. 

Read on to discover which industries are most frequently targeted by cyberattacks, some statistics to support this point, and how hiring a cybersecurity professional can greatly safeguard your business from malicious actors.

How Much Does the World Spend on Protecting its Digital Assets?

In May 2024, global spending on cybersecurity hit a staggering $183 billion, reflecting a 78% increase from six years ago. As cyber threats become more sophisticated, the demand for skilled cybersecurity professionals has reached new levels. Whether it’s a bank, insurance, manufacturing unit, or a hospital — protecting sensitive data remains a big challenge. Global organizations worldwide need qualified cybersecurity expertise.

Industries Vulnerable to Cyberattacks

The digital transformation across various industries has created new opportunities for businesses but also opened the door for cybercriminals. Some industries are particularly vulnerable:

• Manufacturing: Digital systems like IoT, shop floor controllers, and monitoring systems have streamlined manufacturing that is vulnerable to new-age cyber threats. Cybercriminals target this industry for data theft, large-scale disruptions, and geopolitical impacts. According to a 2023 report by Statista, one in four cyberattack incidents involved manufacturing companies. Despite not being publicly accessible, the high disruption potential makes manufacturing a significant target.
• Automotive: What is common between the names Tesla, Honda, Toyota, Nissan, and Renault besides being leaders in the automotive industry? They were all hit at least once by a ransomware attack! The automotive industry has recently become a prime target for cybercriminals. Connected cars and mobile device integration offer multiple entry points for hackers. The rise of self-driving cars further expands these opportunities. Additionally, automakers are relatively new to cybersecurity, making them more susceptible to attacks.
• Financial Institutions: Financial institutions have long been attractive to cybercriminals due to the sensitive personal and financial data they hold. This data is highly valuable on the dark web. While many institutions have implemented security measures like two-factor authentication and zero-trust strategies, the sector remains a top target due to the potential high rewards for attackers.
• Public Sector: Government agencies saw a surge in cyberattacks in 2022. Hackers seek highly sensitive personal identifiable information (PII) stored in government records, which is highly valuable on the black market. While new policies are improving cybersecurity, legacy systems still present vulnerabilities that cybercriminals exploit.
• Education: The rise of digital platforms for online learning has exposed the education sector to cyberattacks. Hackers target students’ personal information and staff financial data. The general lack of cybersecurity awareness among students makes this sector particularly vulnerable.

Why Should Organizations Onboard Certified and Trained Cybersecurity Professionals?

Organizations should hire trained cybersecurity professionals for several critical reasons:

1. Protecting Sensitive Data: Organizations handle vast amounts of sensitive data, including personal information, financial data, and proprietary information. Cybersecurity professionals are equipped to protect this data from unauthorized access, breaches, and leaks. Having a cybersecurity professional in-house, ensures data integrity, confidentiality, and compliance with data protection regulations.

2. Mitigating Cyber Threats: Cyber threats are constantly evolving, with new vulnerabilities and attack vectors emerging regularly. Trained professionals stay updated with the latest threat intelligence and can implement measures to mitigate these risks. A cybersecurity expert comes in handy in reducing the likelihood of successful cyberattacks and minimizing potential damage.

3. Ensuring Regulatory Compliance: Many industries are subject to stringent regulatory requirements concerning data security and privacy. Cybersecurity professionals understand these regulations and can ensure that the organization remains compliant. Having an expert ensures that your company does not have to deal with legal penalties, fines, and reputational damage associated with non-compliance.

4. Preventing Financial Losses: Cyberattacks can result in significant financial losses due to theft, ransom payments, legal costs, and business disruption. Trained professionals can develop and implement robust security measures to prevent such incidents, thereby protecting the organization’s financial health and stability.

5. Safeguarding Reputation: A data breach or cyberattack can severely damage an organization’s reputation, eroding customer trust and loyalty. It can cost a company $4.45 Million on average. Cybersecurity professionals work to prevent breaches and respond effectively if they occur. This ensures an organization’s reputation is not compromised.

6. Enhancing Incident Response: In the event of a cyber incident, a quick and effective response is crucial to minimize damage. Trained professionals are skilled in incident response and can manage and contain threats promptly.

7. Improving Operational Efficiency: Cybersecurity professionals can identify and mitigate vulnerabilities in the organization’s systems and processes, leading to more secure and efficient operations. 

8. Staying Ahead of Cybercriminals: Cybercriminals use new crypto mining techniques to exploit IT-related weaknesses. Cybersecurity professionals adapt to a continuous learning approach and use advanced tools to stay one step ahead of these attackers. This proactive approach requires a guided cybersecurity skills mapping framework.

9. Fostering a Security Culture: Cybersecurity is not just about technology but also about people and processes. Professionals can train and educate employees on best security practices, fostering a culture of security awareness.

10. Supporting Business Growth: A strong cybersecurity posture supports business growth by enabling digital transformation initiatives and the adoption of new technologies without compromising security.

So What’s Stopping the Talent From Flowing Into Organizations?

Organizations are struggling to find and nurture the right people to defend against cyberattacks. If you’re a CIO or CISO, this talent shortage is likely a significant concern. According to Fortinet, the escalating risks from cyberattacks are driving the urgent need for cybersecurity experts. Despite this increasing demand, finding qualified professionals remains a significant challenge. In 2023, the cybersecurity workforce gap reached 4 million, as reported by Forbes. The rapid evolution of cyber threats exacerbates this issue, requiring a combination of technical expertise, analytical skills, and ongoing education.

The 2022 (ISC)² Cybersecurity Workforce Study revealed a 26.2% increase in the global cybersecurity workforce gap, leaving a talent deficit of 3.4 million professionals. This shortage is driven by several factors, including a lack of formal education and training programs, a limited understanding of cybersecurity’s importance, and the perception of the field as overly technical.

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Factors Worsening the Talent Shortage

Several factors contribute to the growing talent gap:

1. Skewed Workforce Demographics: The cybersecurity workforce lacks diversity, with only 25% being female. The perception of cybersecurity as a male-dominated field discourages women and minorities from pursuing careers in this area, limiting the talent pool.
2. Job Stress and Burnout: The fast-paced cybersecurity industry sees high levels of stress and burnout. Studies show that 51% of cybersecurity professionals experience extreme stress or burnout, with 65% considering leaving their jobs due to stress. The constant vigilance required can be exhausting, leading to high attrition rates.
3. Complex Job Criteria: Cybersecurity demands a mix of technical and non-technical skills, along with specialized knowledge. Employers often require multiple qualifications for entry-level positions, making it challenging for interested individuals to break into the field.
4. Work-Life Imbalance: Long hours and limited time for personal life contribute to high stress and burnout. Reports indicate that 45% of cybersecurity workers quit their jobs due to work-related stress, impacting the industry’s ability to retain talent.

Addressing these challenges is crucial for creating a more sustainable environment that can attract and retain the talent needed to protect against evolving cyber threats.

The Solution: Cybersecurity Certifications

Cybersecurity certifications play a crucial role in overcoming industry challenges. They provide a structured learning path, ensuring that professionals acquire the necessary skills and knowledge. Certifications are recognized as industry standards, helping employers identify qualified candidates. They open doors to new job opportunities, higher salaries, and career advancement. Cybersecurity certifications also include hands-on training, allowing professionals to gain practical experience.

Top Cybersecurity Certifications for Your Workforce

If you have identified resources within your organization who can take up the responsibility of securing your organization from cyberattacks, then here is a list of certifications from ISC2 that would take them to the level you desire.

1. CC (Certified in Cybersecurity)

• Who It’s For: Entry-level professionals
• Focus: Basic cybersecurity principles, network security, threat analysis
• Benefits: Provides a strong foundation for a career in cybersecurity, making it easier to transition into the field.

2. CISSP (Certified Information Systems Security Professional)

• Who It’s For: Experienced professionals and leaders
• Focus: Security and risk management, asset security, security engineering
• Benefits: Recognized globally, ideal for those seeking senior-level positions and leadership roles.

3. SSCP (Systems Security Certified Practitioner)

• Who It’s For: Security operations professionals
• Focus: Security operations and administration, incident response, cryptography
• Benefits: Enhances operational skills, making it suitable for roles in security administration and operations.

4. CCSP (Certified Cloud Security Professional)

• Who It’s For: Cloud security professionals
• Focus: Cloud architecture, data security, compliance
• Benefits: Validates expertise in cloud security which is increasingly important as organizations move to cloud environments.

5. CGRC (Certified in Governance, Risk and Compliance)

• Who It’s For: Governance and risk management professionals
• Focus: Risk management frameworks, compliance, auditing
• Benefits: Ensures proficiency in managing enterprise risk and compliance which is essential for governance roles.

6. CSSLP (Certified Secure Software Lifecycle Professional)

• Who It’s For: Software developers and security professionals
• Focus: Software security, secure coding practices, software development lifecycle
• Benefits: Promotes best practices in secure software development thus reducing vulnerabilities in applications.

7. ISSAP (Information Systems Security Architecture Professional)

• Who It’s For: Security architects
• Focus: Security architecture, technology management, cryptography
• Benefits: Provides advanced knowledge for designing and managing security architectures, essential for architect roles.

8. ISSEP (Information Systems Security Engineering Professional)

• Who It’s For: Security engineers
• Focus: Security engineering principles, systems security, integration
• Benefits: Focuses on the engineering aspects of cybersecurity which is ideal for professionals, involved in system design and implementation.

9. ISSMP (Information Systems Security Management Professional)

• Who It’s For: Security Managers
• Focus: Security management practices, risk management, business continuity
• Benefits: Prepares professionals for management roles, emphasizing strategic planning and risk management.

Conclusion

As cyber threats rapidly evolve, the need for trained cybersecurity professionals is at an inflection point in the industry. Addressing the talent shortage and fostering a security culture within organizations will help protect against the ever-growing cyber threat landscape.