As the world shifts their lives online, cyber security as a profession has grown because there is more personal and sensitive data vulnerable to an attack. The rise of cyber security has had a huge impact on business as professional industries are scouring to hire cyber security talent to protect their online presence and assets.
There is a growing skills gap in Australia and companies are seeking to hire cyber security talent right now. Here are the reasons why:
1. The rise of cyber security and the impact on businesses around the world
The internet has provided an excellent platform for businesses to flourish and prosper yet has left them defenceless to confront the challenges of cybercrime. Cybercrime is rapidly evolving with cyber criminals utilising more sophisticated methods of attack to undermine businesses around the world. Cyber attacks can be so serious that a company may not be salvaged. This dilemma has had a profound impact on businesses prompting companies to hire cyber security talent leading to the rise of cyber security openings in the job market.
It is estimated that 56% of the world’s population have access to the internet. Think about all the data floating through cyberspace. It is no wonder that businesses are seeking cyber security professionals to address the challenges put forth by cyber criminals.
Telstra’s cyber security report found that 59% of organisations in Australia had to deal with security breaches that hindered business operations. The Australian Government Department of Communications announced that the average cost of cyber attack is approximately $276,000.
Studies show that 90% of cyber attacks achieve their desired purpose due to human error. As long as our society continues to trust organisations with their data, cyber security will remain an important industry.
2. The rise of the Australian cyber security industry and the benefits and challenges of a cyber security driven future
The Australian cyber security industry has grown significantly in the last few years and the forecast is set for industry growth to skyrocket. An ACSC survey observed that 90% of Australian organisations have been the target of a cyber attack.
The benefits of a cyber security driven future:
- Digital trade helps boost the economy
- Creating new jobs for cyber security professionals
- Expands the Australian cyber security industry
- Transforming our healthcare industry to save lives
The challenges of a cyber security driven future:
- The growing cyber security skills shortage
- Increasing number of cyber criminals
- Potential geopolitical tensions
The Australian government is very focused on building a strong cyber security industry with CSIRO and AustCyber developing a Cyber Security Industry Roadmap outlining their desired vision to be a world leader in cyber security. In order for the Australian cyber security industry to establish itself as a strong global competitor and really flourish, cyber security needs to be at the foundation of every data-based sector in our economy.
3. What the rise of cyber security means for the Australian job market
The rise of cyber security means that cyber security professionals are in demand in the Australian job market. The proliferation of product companies wanting to start up their businesses in Australia are facing the challenge of meeting the demand of hiring cyber security talent.
An assessment revealed that the Big 4 Consulting firms (PWC, KPMG, EY and Deloitte) are looking to hire cyber security talent. SEEK confirms that the Australian job market is dominated by cyber security roles with 57% increase in the last year. Cyber security talent will continue to be highly sought after in the future with the industry demand soaring.
Job listings are often written in confusing jargon which has generated problems with attracting cyber security talent. This has a direct impact on businesses because the skills gap will continue to increase. Cyber security is expected to dominate the Australian job market in the future.
4. What skills and experience are needed to work in the cyber security industry
The cyber security skills shortage in Australia is creating chaos for companies hiring in the cyberspace. In a nutshell, employers are looking for cyber security talent with specialist skills as well as expertise needed to assess business risk.
Here are the specialist areas with cyber security skills shortage:
- Penetration testing – the employer demand for ethical hackers continues to rise since more companies need to know the vulnerabilities within their networks
- Security analysis – the career opportunities for security analysts are growing because every organisation needs someone who understands cyber security and how it impacts them
- Incident response – all companies will be subjected to cyber attacks so they need cyber security talent to be there to respond to the security breaches
- Data science and analytics – big data and machine learning expertise needed to work with cyber security software
- Soft skills – cyber security professionals with good communication skills used to explain technical information in a simple way are greatly sought after
In essence, a combination of both technical and soft skills are what companies are looking for when hiring in the cyberspace.
5. How to meet the demand for cyber security talent and expand your career prospects
Meeting the demand for cyber security talent is one of Australia’s biggest challenges at the moment and will be for many years to come. The Australian government has recognised the cyber security skills shortage and implemented the Notifiable Data Breaches (NDB) scheme in February 2018. This law requires organisations to report security breaches when sensitive data is at risk. The NDB scheme pressures businesses to hire cyber security talent to ensure their data is protected.
Australia is tasked with overcoming the growing skills gap as industry growth escalates. Australia boasts some of the best educational systems in the world and in response to the industry demand, cyber security courses are being incorporated in various curriculums. The future of the Australian cyber security industry depends on closing the growing skills gap in order to achieve economic success.
Acquiring cyber security skills will open a number of doors to expand your career prospects. There are a lot of vacant positions due to the cyber security skills gap in Australia. With cyber security forecasted to be a fundamental base for every sector in the Australian job market, the career opportunities are limitless.
If you are considering expanding your career prospects in cyber security, book a consultation with an Institute of Data Career Consultant today. Click here to schedule a call or learn more about our accelerated cyber security training programs here.