Fortinet Annual Skills Gap Report Reveals Growing Connection Between Cybersecurity Breaches and Skills Shortages

Fortinet released its 2024 Global Cybersecurity Skills Gap Report, which highlights ongoing challenges related to the cybersecurity skills shortage impacting organisations around the globe. The study also included large organisations from the UAE.

“The findings from our 2024 Cybersecurity Skills Gap Report highlight a critical issue facing organisations in the United Arab Emirates,” says Alain Penel, VP – Middle East, Turkey and CIS, at Fortinet. “Close to 58% of IT decision-makers cited the lack of training and upskilling opportunities as being their biggest challenge. This underscores the urgent need for enhanced cybersecurity training and certification programmes, as 94% of our respondents said they were ready to pay to get their employees cybersecurity certified. It is also encouraging to see that 92% of IT decision-makers actively women into security roles, while 74% had plans to introduce diversity goals over the next 2-3 years. Fortinet is committed to supporting organisations to build a resilient cybersecurity posture by providing comprehensive training and certification programmes through our pledge to train 1 million people in cyber by 2026. We aim to empower professionals with the necessary skills to protect against evolving cyber threats and secure their organisations effectively.”

Key findings from the global report include:

• Organisations are increasingly attributing breaches to the cyber skills gap.
• Breaches continue to have significant repercussions for businesses, and executive leaders are often penalised when they happen.
• Certifications continue to be highly regarded by employers as a validator of current cybersecurity skills and knowledge.
• Numerous opportunities remain for hiring from diverse talent pools to help address the skills shortage.

The Cyber Skills Gap Continues to Impact Companies Worldwide

An estimated 4 million professionals are needed to fill the growing cybersecurity workforce gap. At the same time, Fortinet’s 2024 Global Cybersecurity Skills Gap Report found that 70% of organisations indicated that the cybersecurity skills shortage creates additional risks for their organisations. Other findings that highlight the impact of the growing skills gap on companies across the globe include:

• Organisations are attributing more breaches to a lack of cyber skills. In the past year, nearly 90% of organisational leaders (87%) said they experienced a breach that they can partially attribute to a lack of cyber skills, up from 84% in the 2023 report and 80% the year prior.
• Breaches have a more substantial impact on businesses. Breaches have a variety of repercussions, ranging from financial to reputational challenges. This year’s survey reveals that corporate leaders are increasingly held accountable for cyber incidents, with 51% of respondents noting that directors or executives have faced fines, jail time, loss of position, or loss of employment following a cyberattack. Additionally, more than 50% of respondents indicate that breaches cost their organisations more than $1 million in lost revenue, fines, and other expenses last year—up from 48% in the 2023 report and 38% from the previous year.
• Boards of directors view cybersecurity as a business imperative. As a result, executives and boards of directors increasingly prioritise cybersecurity, with 72% of respondents saying their boards were more focused on security in 2023 than the previous year. And 97% of respondents say their board sees cybersecurity as a business priority.

Hiring Managers Value Continued Learning and Certifications

Business leaders widely regard certifications as validation of cybersecurity knowledge, and those who hold a certification or work with someone who does notice clear benefits. This year’s survey also found that:

• Candidates with certifications stand out. More than 90% of respondents said they prefer hiring candidates with certifications.
• Leaders believe that certifications improve security posture. Respondents place such high value on certifications that 89% said they would pay for an employee to obtain a cybersecurity certification.
• Finding candidates who hold certifications isn’t easy. More than 70% of respondents indicated that it is difficult to find candidates with technology-focused certifications.

Companies Are Expanding Hiring Criteria to Fill Open Roles
As the cyber workforce shortage persists, some organisations diversify their recruitment pools to include candidates whose credentials fall outside traditional backgrounds—such as a four-year degree in cybersecurity or a related field—to attract new talent and fill open roles. Shifting these hiring requirements can unlock new possibilities, especially if organisations are willing to pay for certifications and training. The report also found that:

• Organisations continue to have programmes dedicated to recruiting from a diversified talent pool. Eighty-three per cent of respondents said their organisations have set diversity hiring goals for the next few years, in line with last year’s report but slightly down from 89% in 2021.
• Diversity hiring varies from year to year. Despite ongoing recruitment targets, female hires are down to 85% from 89% in 2022 and 88% in 2021; hires from minority groups remain unchanged at 68% and up slightly from 67% in 2021; and veteran hires are up slightly to 49% from 47% in 2022, but down from 53% in 2021.
• While many hiring managers value certifications, some organisations still prefer candidates with traditional backgrounds. Despite many respondents saying they value certifications, 71% of organisations still require four-year degrees, and 66% hire only candidates with traditional training backgrounds.

Organisations Are Taking a Three-Pronged Approach to Building Cyber Resiliency
The increasing frequency of costly cyberattacks, combined with the potential of severe personal consequences for board members and directors, is resulting in an urgent push to strengthen cyber defences across enterprises. As a result, organisations are focusing on a three-pronged approach to cybersecurity that combines training, awareness, and technology:

• Help IT and security teams obtain vital security skills by investing in training and certifications to achieve this goal.
• Cultivate a cyber-aware frontline staff who can contribute to a more secure organisation as a first line of defence.
• Use effective security solutions to ensure a strong security posture.

To help organisations achieve these objectives, Fortinet offers the largest integrated portfolio of more than 50 enterprise-grade products through its Fortinet Security Fabric platform. Additionally, the award-winning Fortinet Training Institute, one of the industry’s broadest training and certification programmes, is dedicated to making cybersecurity certification and new career opportunities available to all populations, including a Security Awareness Training offering for organisations to develop a cyber-aware workforce.