Key Insights:
- Cybersecurity Breaches in the Philippines: 94% of organizations reported breaches in the past year, partly due to a lack of cyber skills. 77% attribute increased cyber risks to the skills gap.
- Critical Need for Cyber Skills: The report underscores the necessity of combining the right security technology, upskilling opportunities for current security professionals, and fostering a cyber-aware workforce. #Fortinet #CyberSecurity
Statements from Key Figures:
- John Maddison, Chief Marketing Officer at Fortinet: “The persistent skills shortage remains a leading cybersecurity challenge. Organizations must protect themselves from today’s complex threats by integrating the right security technology, providing upskilling opportunities, and fostering a cyber-aware workforce.”
- Alan Reyes, Country Manager at Fortinet Philippines: “An increasing number of organizations are linking security breaches to the cybersecurity skills gap. This highlights the urgent need for organizations in the Philippines to address the skills shortage to enhance their security posture.”
News Summary: Fortinet® (NASDAQ: FTNT), a global leader in cybersecurity, has released its 2024 Global Cybersecurity Skills Gap Report. Key findings for the Philippines include:
- Attribution of Breaches to Skills Gap: 94% of organizations experienced breaches due to a lack of cyber skills, up from 92% in the previous report.
- Impact on Businesses: Breaches have significant repercussions, with 62% of respondents noting that directors or executives faced penalties following a cyberattack. 52% indicated breaches cost their organizations more than $1 million in lost revenue, fines, and other expenses last year.
- Board Prioritization of Cybersecurity: 80% of respondents said their boards were more focused on security in 2023 than the year before. 94% say their board views cybersecurity as a business priority.
Value of Certifications:
- Preference for Certified Candidates: 94% of respondents prefer hiring candidates with certifications.
- Investment in Certifications: 98% of respondents would pay for an employee to obtain a cybersecurity certification.
- Difficulty Finding Certified Candidates: 84% indicated it is challenging to find candidates with technology-focused certifications.
Expanding Hiring Criteria:
- Diversity in Recruitment: 88% of respondents said their organizations have set diversity hiring goals. Female hires are up to 94%, hires from minority groups are up to 76%, and veteran hires are up to 64%.
- Preference for Traditional Backgrounds: Despite valuing certifications, 92% of organizations still require four-year degrees, and 68% hire only candidates with traditional training backgrounds.
Three-Pronged Approach to Cyber Resiliency:
- Training and Certifications: Investing in training and certifications for IT and security teams.
- Cyber-Aware Workforce: Cultivating a cyber-aware frontline staff.
- Effective Security Solutions: Implementing effective security solutions to ensure a strong security posture.
Fortinet’s Offerings: Fortinet provides a comprehensive portfolio of over 50 enterprise-grade products through its Fortinet Security Fabric platform. The Fortinet Training Institute offers extensive training and certification programs, including Security Awareness Training to develop a cyber-aware workforce.
FAQs:
1. What is the main cause of cybersecurity breaches in the Philippines? The primary cause is attributed to a lack of cyber skills, with 94% of organizations experiencing breaches due to this issue.
2. How are organizations addressing the cybersecurity skills gap? Organizations are investing in training and certifications for their IT and security teams, diversifying their candidate pools, and implementing effective security technologies.
3. What impact do breaches have on businesses? Breaches have significant financial and reputational repercussions, with some organizations facing costs exceeding $1 million and penalties for executives.
4. Why are certifications important in cybersecurity? Certifications validate cybersecurity knowledge and skills, making certified candidates more attractive to employers. They also improve an organization’s security posture.
5. How is Fortinet helping organizations build cyber resiliency? Fortinet provides a range of enterprise-grade security products and extensive training and certification programs to help organizations strengthen their cybersecurity defenses.