A shortage of cyber security skills is impacting the defence strategies of organisations worldwide, according to a new report from Hays.

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. 

According to the report, as the rate of digital transformation continues to accelerate, 66% of business 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. 

At the same time, 72% of business 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% reported that cyber security awareness is greater than it was in 2019.

Hays asked business leaders if the investment in cyber security has been easier to secure since the pandemic, with 17% of leaders responding that it has not. However, almost half are expecting minimal change to their IT budgets in 2023. Subsequently, 68% of cyber security leaders have said they are concerned about the level of investment in cyber security and their IT budget.

As demand for cyber security professionals outstrips supply, 90% of leaders said the lack of skills available is affecting their security implementation. 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.

Leaders also believe that upskilling and cross-training their team members, such as teaching them how to perform in new roles, are the best routes to success to help close the skills gap. The majority of leaders, 71%, said their organisation invests in training employees in cyber security skills.

“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,” said James Milligan, global head of technology solutions at Hays. “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.”