CYBER SECURITY SKILLS SHORTAGE THREATENS DEFENCE OF ORGANISATIONS ACROSS THE GLOBE

 

Hays, the world’s specialist leader in workforce solutions and recruitment, has recently released the Hays Global Cyber Security Report 2023, revealing that a shortage of cyber security skills is impacting the defence strategies of organisations. As the rate of digital transformation continues to accelerate, two-thirds of leaders said that they do not rate their chances of attracting the necessary cyber skills to their organisation, the top reason being an inability to meet salary expectations. 

 

Over two-thirds of leaders reported that recent global events, such as geo-political conflicts and the pandemic, have affected the cyber risk profile at their organisation and 84% of leaders reported that their organisation experienced a phishing attack in 2022. This has led to employees becoming more aware of potential threats, as 77% of leaders reported that cyber security awareness is greater than it was in 2019.

 

When asked if investment in cyber security has been easier to secure since the pandemic, only 17% of leaders disagreed with the statement. However, almost half are expecting minimal change to their IT budget in 2023. As a result, 68% of cyber security leaders have said they are concerned the level of investment in cyber security and their IT budget.

 

 

As demand for cyber security professionals outstrips supply, 90% of surveyed leaders said the lack of skills available is affecting their security implementation. If the experienced talent isn’t readily available, organisations must find new ways to fill these roles. Over half of leaders stated that they are likely to hire workers who don’t hold formal accreditations as one way of overcoming gaps in their teams.

 

To help close the skills gap, leaders believe upskilling and cross training their team members, such as teaching them how to perform in new roles, are the best routes to success. 71% of leaders said their organisation invests in training employees in cyber security skills. 
 
James Milligan, Global Head of Technology Solutions at Hays, commented on the report, “Our survey reveals hiring and retaining cyber security talent is front of mind for leader’s faced with increasingly complex and sophisticated threats. In a skills short market, leaders need to turn to innovative – but proven – solutions such as upskilling existing talent or considering unexplored talent.

 

Jessica Wang, Managing Director of Hays China, commented on the report, “A shortage of skilled talent continues to be a major challenge in cyber security. Our recent survey involving hundreds of local organisations revealed that mismatched salary expectations (84%) and insufficient working experience (38%) are the main obstacles hiring managers face in recruiting for these roles.” Wang suggested that flexible working hours, remote and hybrid working, upskilling and training, and other monetary incentives can help with recruiting and retaining talents for this challenging sector.

 

Upskilling existing talent not only ensures organisations readily have the skills they need, but we also know providing learning resources is a valuable way to retain employees. Other solutions we advise our clients consider include hiring professionals who do not have the experience or complete skillset but the right transferable skills, or considering professionals with the skills, but who face barriers in getting into the workplace, such as neurodivergent talent, people from lower socio-economic backgrounds or those living with a disability.”

 

 

The Hays Global Cyber Security Report 2023 features the insights of over 1,000 cyber security leaders, from manager level to those in the C-Suite, across 27 countries. The report explores the hiring and retention intentions and strategies of organisations across the globe, the most in-demand skills, and the security investment levels of organisations. Responses for the survey were collected between Thursday 20 October and Friday 16 December 2022.

 

 

For more information contact:
Bill Wang
Marketing Executive, Hays China 
E: Bill.Wang@hays.cn

 

 

Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2022, the Group employed c.13,000 staff operating from 253 offices in 32 countries. For the year ended 30 June 2022:

– the Group reported net fees of £1,189.4 million and operating profit of £210.1 million;
– the Group placed around 83,750 candidates into permanent jobs and around 250,000 people into temporary roles;
– 16% of Group net fees were generated in Australia & New Zealand, 26% in Germany, 22% in United Kingdom & Ireland and 36% in Rest of World (RoW);
– the temporary placement business represented 55% of net fees and the permanent placement business represented 45% of net fees;
– Technology is the Group’s largest division, with 26% of net fees, while Accountancy & Finance (14%) and Construction & Property (11%), are the next largest
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA