CYBERSECURITY SKILLS IN HIGH DEMAND

Looking for a career in cybersecurity? Well, you’re in demand - provided you get in there before the robots do.

According to Jamie Fitzgerald, Cybersecurity Business Manager at Franklin Fitch, the majority of small and medium-sized businesses are wholly underprepared for the threat of a cyberattack, exposing themselves to billions of pounds/euros in financial damage. Whether it’s a lack of funding or ignorance that it won’t happen to them, the need for skilled cybersecurity specialists has never been greater.  Between 2013 and 2021, the number of unfilled cybersecurity jobs increased by 350%, from 1 million to 3.5 million.

"There is a distinct lack of awareness of cybersecurity in SMEs," Jamie says, adding that even if awareness existed, finding people with the necessary skills would be difficult. The cost of a data breach in the United Kingdom has increased by 8.1%, and total costs have reached a seven-year high in 2022, with the average cost to business from a cybersecurity breach being around $3.6 million. Despite these increased security threats, many businesses are not taking cybersecurity seriously enough, and their cybersecurity budgets are still being cut as we move through 2023. It's a candidate-short market right now, particularly in cybersecurity, making it difficult to find the right people."

The potential damage from an attack is huge

Failure to implement appropriate cybersecurity measures can have a devastating financial and reputational impact on a company that is the victim of an attack. According to IBM, 68 percent of businesses are not prepared for cyber-attacks, leaving themselves vulnerable due to ignorance, a lack of funds, or an unwillingness to rock the boat by acknowledging a threat.

While allocating funds for appropriate security at a time when many businesses are cutting spending is not ideal - the average mid-sized company spends tens or even hundreds of thousands on cybersecurity - the outlay is minor in comparison to the potential damage.

Why is it so hard to fill cybersecurity roles?

So, what cybersecurity-related skills are in high demand, and how can potential specialists land the job they want while also assisting these companies in mitigating an attack?

"Candidates must be able to communicate, gain the support of stakeholders, be hungry for knowledge, and have strong technical skills," Jamie says. "A highly motivated individual is teachable: They can improve their soft and technical skills under your supervision. If you hire someone with the right mindset and foundational knowledge, they may be a better fit than a seasoned candidate with a fixed mindset and unwillingness to change."

Companies need to innovate to attract skilled workers

Jamie, who is currently hiring for a variety of cybersecurity positions in the UK, believes that companies must be willing to be more flexible in order to attract the best talent.

"The market for cybersecurity talent will likely remain tight and candidate-driven. "So, you have to make the role and company appealing," Jamie believes. You can be confident that if you do this and welcome them into a healthy culture, these new employees will deliver value and be valued for their efforts."

How can AI help?

Jamie believes that Artificial Intelligence will relieve some of the pressure on the sector in the future (AI). "AI not only removes the human element, which is prone to risk and error, but it can also help to identify data and pinpoint potential threats," he says.

Some cybersecurity companies are already teaching AI systems to detect viruses and malware using complex algorithms, so that AI can then run pattern recognition software. AI systems can also be used to provide access to their users in situations requiring multi-factor authentication. While AI is great for processing large amounts of data and replacing autonomous manual tasks, it will never be able to replace a security analyst's insight or understanding of a problem.

In reality, jobs will change, and while some of us may end up working alongside an automated colleague, we will still be needed, albeit for different functions.

If you're looking for a job in cybersecurity space or want to protect your business from increased cyber-attacks, please contact one of our recruiters for more information and advice.