Cybersecurity isn’t just a buzzword—it’s a lifeline for modern businesses. With the surge in cyber threats and attacks growing more sophisticated by the day, having a team of cybersecurity experts is no longer optional.
But here’s the problem: Australia’s facing a massive shortfall in cybersecurity talent. The Australian Cyber Security Center (ACSC) estimates that by the end of the year, we could be short by 16,600 skilled professionals. That’s a huge gap—and one that’s leaving many organizations in a vulnerable position.
What’s Going on with Cybersecurity Skills in Australia?
There are several reasons Australia is experiencing such a skills gap, and a big one is the rapid pace of change. Technology and cyber threats are constantly evolving, and businesses need professionals who have in-depth, specialized knowledge to stay on top of it all. But training existing staff to handle these new challenges is easier said than done, so the supply of experts can’t keep up with demand.
Right now, only 11,387 professionals hold key cybersecurity roles in Australia, such as penetration testers, engineers, analysts and risk and compliance specialists. That’s just 3% of the entire ICT workforce in the country, compared to the 50,000 project managers and 7,000 CIOs working in tech.
To cope with this shortage, Australia has turned to skilled migration, with more than half of our cybersecurity professionals being born outside the country.
How The Shortage Impacts Businesses
So, what does this shortage mean for Australian businesses? Unfortunately, it’s not great news:
- Vulnerability to Cyber Threats: As the talent gap widens, companies are left more exposed to attacks. Whether it’s ransomware or data breaches, organizations without the right people in place are easier targets for cybercriminals.
- Higher Costs: Because cybersecurity experts are in such high demand, businesses are having to pay top dollar to attract and keep them. Offering larger salaries and extra perks has become the norm, with companies already spending around 10.9% of their IT budgets on cybersecurity, according to Deloitte Insights. Those costs are only rising.
- Slow Response to Incidents: With fewer skilled people available, companies may not be able to respond to threats as quickly as they should. Every minute counts during a cyberattack, and delays can lead to bigger problems like increased data loss, longer downtimes and even lasting damage to your reputation.
- Regulatory Challenges: Staying compliant with industry regulations becomes trickier without enough experts on board. The lack of cybersecurity talent means companies may unintentionally expose themselves to fines, penalties or worse.
Navigating the Cybersecurity Skills Shortage
The growing cybersecurity skills shortage makes it harder for businesses to find and retain the right talent, but that doesn’t mean your security should take a back seat. By partnering with trusted external experts, you can access top-tier solutions that remove a lot of the legwork for complex cyber controls.
For instance, if you need to set up a solid security awareness program, KnowBe4 can handle that for you. It is an AI-powered, new-school security awareness training and simulated phishing that allows organizations to drive awareness and change user behavior, ensuring your team stays vigilant against threats.
Looking to tackle compliance but feeling overwhelmed? Drata has you covered, streamlining your compliance efforts across multiple frameworks through automation. With the right partners, securing your business doesn’t have to be a headache.
How Insentra Can Help
If you’re looking for a partner who can watch over your cybersecurity needs 24×7, Insentra’s Managed Security Services are here to bridge the talent gap.
Our team of experts can seamlessly step in to handle the heavy lifting, providing the skills and support your organization needs to stay secure. We’re here to lighten the load, reduce the risk and ensure your cybersecurity stays top-notch, even when the talent pool is stretched thin.
Contact us today to start a conversation on how you can improve your security posture with Insentra.
