Technology is a double-edged sword. While it slays numerous problems, it also sharpens new threats. Organizations around the world are scrambling to defend themselves from cyberattacks. It is proving to be a costly battle.
The Ponemon Institute pegs the global average loss at $3.86 million per data breach. If we focus on U.S. cases, the average jumps to $8.64 million per breach. These include lost revenue from downtime, breach response expenses, and reputational damage.
In the face of increasing attacks, everyone needs to beef up cybersecurity and expand the dedicated workforce. However, the so-called “cybersecurity gap” prevents organizations from coping effectively. ThriveDX aims to close the gap with its Cyber Talent Hub.
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What is Cybersecurity?
Organizations operate critical systems and store sensitive information. Attacks can disrupt these systems and steal information for nefarious ends. Cybercriminals often try to obtain names, addresses, social security numbers, and other personally identifiable information.
This type of information can give criminals a significant sum in underground marketplaces, so criminals have a big motivation to keep trying. You might think that all these attacks are coming from the outside — the brainchild of hackers flexing their expertise.
On the contrary, insiders are also known to pull devastating breaches. Cybersecurity measures must prepare for threats coming from any direction.
Risks are constantly rising. New vulnerabilities emerge each day from software and hardware. Security experts must identify these and develop patches to prevent hackers from exploiting them.
Employees and contractors can commit human errors that lead to unintentional data breaches. Even when attack vectors are contained, cybercriminals manage to find new opportunities. No industry is safe. Everyone needs to deploy communication networks, and hackers are adept at manipulating them.
The Cybersecurity Gap
The pandemic pushed more operations online due to convenience or necessity. This adaptation created more targets for hackers. Efforts to stop them require a more significant workforce, so organizations have been trying to hire in large numbers.
They realized that the demand for the global cybersecurity workforce exceeded the supply. There were 2.72 million vacant roles in 2021. It’s a massive gap that will grow wider each year.
To fill the void, the total number of cybersecurity professionals must grow by at least 65%. Organizations will continue to be vulnerable to attacks until this gap is filled.
Due to staff shortage, many suffer from misconfigured systems, compromised risk assessment, slow critical systems patch, process oversight, inadequate threat awareness, and rushed deployments.
These are the real-world consequences when the cybersecurity staff is stretched thin. Frontline professionals recommend a people-first approach that can go together with improvements in processes and technologies.
Organizations may train their existing staff to augment cybersecurity staffing. However, they will still need to recruit new staff and encourage future staff development for sustainability. Initiatives such as flexible working conditions, diversity, equity, and inclusion may also help bridge the gap.
Cybercriminals will persist for as long as their activities remain lucrative. Organizations will need to enhance their defenses and evolve with threats for decades. Companies like ThriveDX who do cybersecurity training can help companies feel protected. Indeed, this problem calls for long-term planning, with talent development being the main priority.
Governments can encourage youth to pursue STEM in college, particularly women and minorities. Companies can address pay and promotion inequality to make them more attractive to graduates. Private enterprises, such as educational institutions and skills training providers, can also step up to bridge the gap. ThriveDX is one of the first to answer the call with innovative solutions.
The ThriveDX Cyber Talent Hub
ThriveDX leads the way in cybersecurity training around the world. In July, the company launched a Cyber Talent Hub to unite educators and employers across different organizations.
The hub will help governments and commercial enterprises attract, retain, and develop talents in this field. It offers access to a large pool of qualified candidates from major universities. With this system, organizations can find what they need more efficiently.
They can fill entry-level positions quickly and build their talent across the years. Several impressive partners have already signed up to support the initiative, including Ingram Micro Inc, Liberty Mutual Insurance, Carahsoft, University of Michigan, University of Chicago, University of Wisconsin, and New York University.
According to research, the cybersecurity skills gap is responsible for 80% of breaches. Organizations don’t have the expertise necessary to create secure environments. They can’t identify holes in their defenses if they can’t hire specialists and are going into battle with compromised shields.
Cybercriminals use these vulnerabilities to coordinate assaults and achieve their objectives. One of the challenges for security professionals is that their skills require continuous enhancement. Learning cannot end when students graduate from university.
While traditional education helps build a solid foundation, it is not agile enough to respond to evolving threats. ThriveDX can ensure continuous growth for cybersecurity talents.
ThriveDX already has the technology and services to make this happen. It is an established learning platform that stands shoulder-to-shoulder with other providers of massive open online courses like Coursera and edX.
While its competitors cover a wide range of traditional courses across different subjects, ThriveDX is focused on digital training skills for the modern workforce. The company was founded in Israel way back in 2006. It has since proven to be a vital asset for enterprise clients who want to retool their current staff and ensure that new hires have the best training possible.
ThriveDX continues to attract interest from investors, with the company raising $100 million in funds at the beginning of 2022. It is putting the resources to good use, especially for those concerned about cybersecurity.
Enterprises can use its platform to provide phishing and security awareness training for all their employees. Young prospects can also dive deeper and acquire crucial cybersecurity skills. With the new ThriveDX Cyber Talent Hub, the company is providing additional value by directly connecting enterprises with newly minted security experts.
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