Businesses today are scrambling to fill cybersecurity jobs with the increasing threats they face. Unfortunately, there is a talent shortage with far more available jobs than there are people to fill them. Cybersecurity Ventures estimates the world has about a staggering 3.5 million unfilled cybersecurity jobs. With the gap between threats and people to mitigate them widening, going forward SMBs need to consider how they’re going to fill these important cybersecurity roles. Here’s why.
Cybercrime is Rapidly Increasing
Historically, many SMBs assumed they didn't need a hefty cybersecurity jobs budget because they assumed they weren’t a threat actors’ primary target. After all, the media typically focuses on the data breaches associated with large companies and corporations. Instead, they invested in other functional areas of business, such as marketing and operations, because those areas generated revenue whereas cybersecurity costs them money. What they weren’t considering is that not investing in cybersecurity jobs would end up costing them in the long run due to targeted attacks at SMBs.
Today’s SMBs cannot afford to ignore cybersecurity any longer as statistics show 43% of data breaches involve small businesses. Furthermore, 83% of them are unprepared for attacks. Attacking SMBs may not yield the largest returns, but it’s essentially easy money for threat actors, especially from those who don’t fill jobs, such as cyber security analysts, and others who can fulfill network security standards. Exploiting SMBs also often gives cyber criminals access to larger companies who subcontract or use them as vendors, which makes them extremely attractive targets.
Cybersecurity Compliance Requirements are Growing
Across the globe, cybersecurity compliance requirements are increasing. For years, companies of all sizes have had to comply with HIPAA, GDDR, and other government mandates, and requirements are only growing. Just in the past year alone, China, UAE, South Africa, and several U.S. states, including Virginia, California, and Colorado, passed new laws, and many more are expected in years to come.
SMBs will need to create compliance jobs or find alternate solutions to help ensure they are adequately following rules and regulations lest they face severe costly penalties. It’s become increasingly important to hire people who have cybersecurity certifications and are qualified to put preventative protocols in place. Companies today also find they need to work with cyber security auditors who evaluate their compliance levels. They’ll need people who understand IT frameworks, including SOC2 and ISO27001, to help them comply with domestic and international laws.
SMBs Have Alternative Options
Realistically, many SMBs simply don’t have the HR and technology budgets to fill critical cybersecurity job roles. Fortunately, there are options that include outsourcing and/or partnering with expert companies to empower them to safeguard their businesses and meet all cyber security compliance requirements. The benefits of having a Chief Information Security Officer (CISO) are well documented, particularly now as cyber attacks are on the rise and cyber risk management is a top priority for all sizes of businesses. But the average salary of over $250,000 per year for a CISO (according to salary.com) is cost prohibitive for many companies.
Trava provides companies with the option of obtaining the services of highly qualified virtual Chief Information Officers (vCISOs) for a fraction of the typical CISO salary.
Learn more about how a virtual Chief Information Security Officer (vCISO) can provide compliance readiness and other cyber risk management services in our comprehensive guide detailing solutions and programs that Trava’s vCISOs can deliver.