Navigating the evolving landscape of cyber security: talent trends and challenges 

In an increasingly digital world, cyber security has become a critical concern for organisations across all sectors.  

The Global Cybersecurity Outlook 2024 report, published by the World Economic Forum in collaboration with Accenture, provides crucial insights into the current state of cyber security and the challenges that lie ahead. As we delve into these findings, it’s clear that the cyber security landscape is not just about technological advancements, but also about the talent behind the screens.

Key cyber security trends – cyber resilience 

The report highlights several significant trends shaping the cyber security field. One of the most pressing issues is the growing cyber inequity between organisations that are cyber resilient and those that are not. This divide is particularly evident when comparing large corporations with small and medium enterprises (SMEs). The number of organisations maintaining minimum viable cyber resilience has decreased by 30% since 2022, with SMEs being disproportionately affected. 

Another critical trend is the rapid adoption of emerging technologies, particularly generative AI. While these technologies offer immense potential, they also present new security challenges. Approximately half of the surveyed leaders believe that generative AI will have the most significant impact on cyber security in the next two years. However, 56% of leaders anticipate that generative AI will advantage cyber-attackers over defenders in this timeframe. 

The report also emphasises the importance of collaboration within the cyber security ecosystem. Effective regulation, industry partnerships and supply chain security are crucial for building a more resilient digital landscape. However, only 23% of leaders are optimistic about significant improvements in industry and ecosystem collaboration over the next two years. 

The talent landscape: a growing challenge 

While technological advancements and ecosystem collaboration are crucial, the talent shortage remains a core challenge as the talent landscape in this field is facing significant challenges and undergoing rapid changes. 

One of the most pressing issues is the widening cybersecurity skills gap. According to the Global Cybersecurity Outlook 2024, 20% of organisations report that they lack the skills needed to accomplish their cyber objectives up from just 6% in 2022. This shortage is not just about numbers; it’s about critical technical and soft skills that are becoming the largest barrier to achieving strategic cyber-resilience objectives. 

The talent shortage is particularly acute for smaller organisations. While 31% of leaders from the smallest organisations by revenue reported missing critical specialists and skills, only 11% of leaders from the largest organisations said the same. This disparity highlights the growing cyber inequity in the ecosystem. 

Attrition rates in the cyber security field are also a significant concern. Globally, the attrition rate among cyber security professionals was 17% over the last 12 months. In Germany, the situation is even more challenging, with an attrition rate of 21% in the same timeframe. These high attrition rates exacerbate the skills shortage and put additional pressure on organisations to retain their cyber security talent. 

Emerging skills and job market trends 

As the cyber security landscape evolves, so do the skills required to navigate it effectively. Artificial intelligence has emerged as the fastest-growing sub-skill among cyber security specialists. Globally, there has been a two-fold increase in AI-related skills, while in Germany, the increase has been 1.4-fold. This trend aligns with the growing importance of AI in both defensive and offensive cyber security strategies.  

The job market for cyber security professionals remains robust, particularly in Germany. Currently, there are approximately 4000 open positions in Germany alone, highlighting the significant demand for cyber security expertise in the region. 

Addressing the talent gap 

Organisations are adopting various strategies to address the cyber security talent gap. The primary approach, according to 41% of surveyed organisations, is upskilling existing employees. This is followed by recruiting experienced cyber security professionals (33%). Interestingly, only 9% of organisations report taking advantage of non-traditional recruitment paths, such as microcredentials or short educational courses. 

The report also highlights the importance of diversity in addressing the talent shortage. Tapping into new talent pools beyond traditional candidates with previous cyber experience can help organisations keep pace with the evolving threat landscape. 

Looking ahead 

As we navigate the complex and ever-changing cyber security landscape, addressing the talent gap will be crucial for organisations to build robust cyber resilience. This includes not only attracting and retaining top talent but also fostering a culture of continuous learning and adaptation. 

The challenges are significant, but so are the opportunities. For organisations looking to strengthen their cyber security posture through strategic talent management, expert guidance can be invaluable. Whether you’re struggling with talent retention, looking to upskill your existing workforce, or seeking to attract top cyber security professionals, we’re here to help. 

Get in touch with us today to discuss your hiring needs or anything else.