There is no shortage of high-profile cases of organizations going public with data breaches or being impacted by cyber security threats or attacks. The risk of damage to companies of all sizes is significant, and the importance of cyber security has permeated all industries. It is no longer an issue for CIOs alone — myriad business units and functions, including boards of directors — have a stake in mitigating the threat of a cyber security breach. As such, the demand for employees with cyber security skills has sky rocketed.
Aon's 2018 Global Cyber Security Talent Survey sheds light on the latest trends and insights impacting the hiring of cyber security talent around the world. In this article, we will share some highlights of the biggest challenges and opportunities for those looking to attract or retain this in-demand talent pool.
Common Challenges Faced When Hiring Cyber Security Professionals
Attracting top talent remains the biggest challenge HR teams face in their quest for hiring cyber security professionals, and a skills shortage is another major challenge cited. In Figure 1, companies were asked to rate their challenges on a scale of one to five, with one being the least challenging and five being the most challenging.
When digging deeper, we found that firms experience the most difficulty getting senior technical experts in the door, followed by technical experts. Retention can also pose a problem. We looked at some of the top factors causing attrition among cyber security professionals. Companies were asked to rate their challenges on the same scale as Figure 2.
It’s not too surprising, based on the ongoing demand for hiring cyber security talent, that 66% of the participating companies plan to increase compensation as a retention measure. Another approach compensation professionals are taking is to increase pay premiums for specialist skills. Figure 3 provides a glimpse into what companies are doing to respond to the ongoing talent demand in this profession.
Everyone wants to know which cyber security skills are the most in-demand today. Based on our findings, security architecture topped the list at 75%, followed by application security at 66%. Other in-demand skills receiving significant pay premiums include advanced penetration testing (53%), incidence response (44%), analytics and intelligence (42%), ethical hacking (41%) and malware prevention (37%).
When looking at the past 12 months, 49% of companies increased their cyber security headcount. Looking at projections for the next 12 months, however, 58% of companies said they will increase their headcount, while just 27% are planning stay the same. Many companies are facing pressure and finding it challenging to obtain the resources they need in time due to the high demand of cyber security professionals.
Keep your organization ahead of the curve by using data and insights to understand what you can do today to attract and retain these in-demand professionals. Contact us now to purchase the latest results of Aon’s 2018 Global Cyber Security Talent Survey, an essential data source for compensation leaders who need to stay competitive and mitigate data security risks.