Is Money the Answer to the Cyber-Security Skills Gap?

Within the Cyber-security sector, experts are continually improving the way they work to ensure hackers don’t find a new vulnerability. The urgency faced by the IT sector means keeping up-to-date on the latest industry trends isn’t a luxury, it’s imperative.

In a 2020 report, Beyond Security claims that the global cyber-security spending is set to reach $128 billion by the end of 2020, but this may not be enough to guarantee better security.

A false sense of security can quickly arise from an increase in spending and throwing money at the problem won’t automatically solve it. The 2019 Global Endpoint Security Trends report claims that despite 24% of cyber-security funding focusing on endpoint security, it was still the entry point for 70% of breaches.

While increasing cyber-security funding is essential in protecting businesses, internal teams also need to be upskilled, educated on new systems and made aware of the latest threats. The skills gap is a genuine issue in the tech sector and fighting to recruit the latest talent isn’t going to solve it.

Instead, companies need to invest in internal management frameworks to ensure skills can be transferred from senior staff to juniors. There’s a demand for knowledge from those looking to improve their IT skill sets, so a culture which promotes mentoring is essential to closing the gap.

The number of cyber-security job postings has already exceeded the number of graduates looking to enter the sector. As hacking continues to be a significant global issue, the responsibility of closing the skills gap can’t just fall to one party. From stakeholders to the government, more needs to be done to promote cyber-security as a lucrative opportunity.

A long-term approach to closing the cyber-security gap in the UK requires it to be championed from an early age. Students don’t grow up knowing about the rewarding and challenging careers they could pursue in the sector, and this understanding needs to be improved if the knowledge-deficit is to be reversed.

From ransomware to phishing scams, hackers are becoming more sophisticated in their attacks, and while extra funding can help protect businesses, investing in new tools isn’t going to enough. Instead, investing in current and future teams who can respond to these evolutions are going to help keep data secure and infrastructures safe.