Fortinet, the global cybersecurity leader driving the convergence of networking and security, released its 2024 Global Cybersecurity Skills Gap Report, which highlights ongoing challenges related to the cybersecurity skills shortage impacting organisations in India. Key findings from the report include:
Organisations are increasingly attributing breaches to the cyber skills gap.
Breaches continue to have significant repercussions for businesses, and executive leaders are often penalised when they happen.
Certifications continue to be highly regarded by employers as a validator of current cybersecurity skills and knowledge.
Numerous opportunities remain for hiring from diverse talent pools to help address the skills shortage.
The Cyber Skills Gap Continues to Impact Companies Worldwide
An estimated 4 million professionals are needed to fill the growing cybersecurity workforce gap. At the same time, Fortinet’s 2024 Global Cybersecurity Skills Gap Report found that 80% of Indian organisations indicated that the cybersecurity skills shortage creates additional risks for their organizations. Other findings that highlight the impact of the growing skills gap on companies across the globe include:
Organisations are attributing more breaches to a lack of cyber skills. In the past year, over 90% of Indian organisational leaders (92%) said they experienced a breach that they can partially attribute to a lack of cyber skills, almost similar to 93% in the 2023 report.
Breaches have a more substantial impact on businesses. Breaches have a variety of repercussions, ranging from financial to reputational challenges. This year’s survey reveals that corporate leaders are increasingly being held accountable for cyber incidents, with 82% of respondents in India noting that directors or executives have faced fines, jail time, loss of position, or loss of employment following a cyberattack. Additionally, 66% of respondents indicated that breaches cost their organisations more than $1 million in lost revenue, fines, and other expenses last year—up from 43% in the 2023 report
Boards of directors view cybersecurity as a business imperative. As a result, executives and boards of directors increasingly prioritise cybersecurity, with 80% of respondents saying Indian boards were more focused on security in 2023 than the previous year. And 98% of respondents say their board sees cybersecurity as a business priority.
Hiring Managers Value Continued Learning and Certifications
Business leaders widely regard certifications as validation of cybersecurity knowledge, and those who hold a certification or work with someone who does notice clear benefits. This year’s survey also found that:
Candidates with certifications stand out. 100% of respondents said they prefer hiring candidates with certifications in India.
Leaders believe that certifications improve security posture. Respondents place such high value on certifications in India that 92% said they would pay for an employee to obtain a cybersecurity certification.
Finding candidates who hold certifications isn’t easy. More than 70% of respondents indicated that it is difficult to find candidates with technology-focused certifications
Companies Are Expanding Hiring Criteria to Fill Open Roles
As the cyber workforce shortage persists, some organisations diversify their recruitment pools to include candidates whose credentials fall outside traditional backgrounds—such as a four-year degree in cybersecurity or a related field—to attract new talent and fill open roles. Shifting these hiring requirements can unlock new possibilities, especially if organisations are also willing to pay for certifications and training. The report also found that:
Organisations continue to have programs dedicated to recruiting from a diversified talent pool. Ninety Four percent of respondents said their organisations have set diversity hiring goals in India for the next few years
Diversity hiring varies from year to year. Despite an increase in ongoing recruitment targets, female hires in India are down to 90% from 94% in 2022 and 80% in 2021.
While many hiring managers value certifications, many organisations still prefer candidates with traditional backgrounds. 92% of organisations in India still require four-year degrees, and 60% hire only candidates with traditional training backgrounds.
Organisations Are Taking a Three-Pronged Approach to Building Cyber Resiliency
The increasing frequency of costly cyberattacks, combined with the potential of severe personal consequences for board members and directors, is resulting in an urgent push to strengthen cyber defenses across enterprises. As a result, organisations are focusing on a three-pronged approach to cybersecurity that combines training, awareness, and technology:
Help IT and security teams obtain vital security skills by investing in training and certifications needed to achieve this goal.
Cultivate a cyber-aware frontline staff who can contribute to a more secure organisation as a first line of defense.
Use effective security solutions to ensure a strong security posture.
To help organisations achieve these objectives, Fortinet offers the largest integrated portfolio of more than 50 enterprise-grade products through its Fortinet Security Fabric platform. Additionally, the award-winning Fortinet Training Institute, one of the industry’s broadest training and certification programs, is dedicated to making cybersecurity certification and new career opportunities available to all populations, including a Security Awareness Training offering for organisations to develop a cyber-aware workforce.
