Know Your Risk

The Future Of Cybersecurity Is Short Handed

Written by Cayla Jetter | Jan 4, 2023 7:14:24 PM

As headlines trumpet ever-increasing cybersecurity crime statistics, the cybersecurity employee shortage is equally deserving of attention. Consider these statistics:

  1. The global cybersecurity workforce is expected to grow by almost 4 million by 2021, according to a report by Cybersecurity Ventures.
  2. The demand for cybersecurity professionals is expected to outpace the supply by 3.5 million by 2021, according to the same report.
  3. The cost of a data breach can be as high as $3.9 million, according to a report by the Ponemon Institute. Investing in cybersecurity can help businesses avoid these costly breaches.

The demand for cybersecurity professionals has never been higher. With the increasing frequency and sophistication of cyber attacks, businesses of all sizes are struggling to find and retain qualified cybersecurity employees. This shortage of skilled professionals has led to a number of challenges for companies trying to protect themselves from cyber threats.

High employee turnover is a major challenge in the cybersecurity field. According to a recent survey by ISACA, the average tenure for a cybersecurity employee is just 2.8 years. This constant “changing of the guard” leaves businesses constantly struggling to train and onboard new employees, leading to a drain on resources and a lack of institutional knowledge. In addition to disrupting the flow of the business, changes in cybersecurity staff also have a negative impact on the overall security of the organization. When new cybersecurity professionals are brought in to replace those who have left, there is a learning curve as they become familiar with the organization's systems and protocols. This creates vulnerabilities that can be exploited by cybercriminals.

Even when a business is able to retain staffing within their cybersecurity department, there is difficulty in maintaining expertise. Cybersecurity is a rapidly evolving field, and it can be difficult for employees to stay up-to-date on the latest threats and best practices. This leads to a lack of expertise within a company, as even dedicated employees can lack the knowledge or skills necessary to effectively protect against new and emerging threats, potentially costing a business hundreds of thousands of dollars, lost business and a tarnished reputation.

One specific area of knowledge particularly difficult to retain is Splunk expertise. Splunk is a powerful tool for analyzing and visualizing data, and it is widely used in the cybersecurity field. However, finding and retaining employees with Splunk expertise can be a challenge, as there is a limited pool of qualified candidates.

So, what can companies do to address these challenges? One solution is to work with a cybersecurity consulting firm like NuSpective. NuSpective has a team of experienced professionals who will evaluate a company's current security measures and identify potential vulnerabilities or weaknesses. Once risks have been identified, NuSpective and their partners implement the necessary protocols and controls to protect a company's data and systems, and ultimately provide ongoing support and monitoring to ensure that a company's security measures are effective and current, including regular updates, testing, and monitoring of security systems.

By working with NuSpective and their partners, companies can have peace of mind with the knowledge their cybersecurity staffing needs are being filled and maintained by the highest level of cybersecurity expertise.