Cybersecurity job vacancies surge by 19% due to financial restraints
In a recent report by the International Information System Security Certification Consortium (ISC)², the global cybersecurity workforce gap has surged by 19%, requiring an estimated 4.8 million more professionals. This is the largest increase in the past six years, highlighting a pressing issue for organizations worldwide.
The study, which collected insights from 15,852 cybersecurity practitioners and decision-makers, revealed that 90% of respondents reported having skills gaps within their security teams. The top factor for these shortages in 2023 was a shortage of talent.
Hiring managers are focusing on hiring mid to advanced level roles rather than a broad mix of experience and abilities. This trend is concerning as around a third (31%) of respondents said their teams had no entry-level professionals, and 15% reported they had no junior-level professionals.
The organization that reported the largest number of announced cybersecurity specialist positions in 2024 was Bitkom, with around 149,000 IT expert vacancies in IT security. This suggests continued high demand for cybersecurity professionals into 2024.
However, the workforce growth has slowed. The 2024 ISC² Cybersecurity Workforce Study showed that global cybersecurity workforce growth has slowed for the first time in six years, with just 12% of hiring managers prioritizing AI skills when recruiting for cyber professionals.
The report also highlighted a particular lack of entry-level roles in security teams. This, coupled with the increasing number of hiring freezes (38% of cybersecurity teams are experiencing hiring freezes, an increase of 6% from 2023), layoffs (25% of cybersecurity teams are experiencing layoffs, an increase of 3% from 2023), and fewer promotions (32% of cybersecurity teams are seeing fewer promotions, an increase of 6% from 2023), is causing significant concern.
ISC² Executive Vice President of Corporate Affairs, Andy Woolnough, warned that declining investment in hiring and professional development opportunities is increasing overall cyber risks. He emphasized that the shortage of skills puts organizations at significant risk, with 58% of respondents believing this to be the case.
The study also highlighted significant impacts of global economic instability on cybersecurity teams. With 37% of cybersecurity professionals experiencing budget cuts (an increase of 7% from 2023), and 74% of cybersecurity professionals believing the threat landscape is the worst they have seen in five years, it is clear that action needs to be taken to address these issues.
The top skills gap reported by participants was in AI (34%), indicating a need for more professionals with expertise in this area. However, with just 12% of hiring managers prioritizing AI skills, it seems there is a disconnect between the skills needed and the skills being sought.
This report underscores the urgent need for organizations to invest in their cybersecurity teams, particularly at the entry and junior levels, to ensure they have the necessary skills to combat the growing threat landscape. The cost of inaction could be significant, with 58% of respondents believing a shortage of skills puts their organization at significant risk.
