Overcoming the Global Cybersecurity Talent Shortage
Hackers are constantly coming up with new ways to steal SMBs’ money, hold SMBs’ data for ransom, or use penetration of an SMBs’ network as a launching pad to go after bigger targets—like the SMBs’ top corporate customers.
And they don’t even have to be technically proficient anymore, because there’s a thriving market on the Dark Web for ransomware-as-a-service. So anyone can literally order an attack on any target the same way you’d order a pizza or call an Uber.
But intensifying hacker activity isn’t the only problem. SMBs themselves are opening more doors to hackers by using more technology in more ways than ever. They’re digitizing everything: sales, customer service, operations, HR, finance, and supplier contracting. They’re letting employees work from home. They’re expanding their use of AI, social, and the cloud. And all that tech-based activity is dramatically increasing what we call their “threat surface”—that is, the proliferating number of potential points-of-exposure for a wily hacker to exploit.
This combination of more hacker activity and more stuff to hack inherently exposes SMBs to greater risk than ever. That’s why the 2023 Allianz Risk Barometer now ranks cyber incidents #1 on its list—ahead of natural disasters, macroeconomic trends, and classic hazards such as building fires.
Worse yet, SMBs have a third problem when it comes to cybersecurity: The world is about 3.4 million workers short of the cybersecurity professionals it needs, according to a 2022 ISC2 study. And about 700,000 of those unfilled positions are in the U.S.
So SMBs need a lot of help—but they can’t hire the people they need to provide that help.
What’s the real need?
The cybersecurity talent shortage is even worse when it comes to executive-level leadership. Market demand is driving lots of younger workers to train for entry-level cybersecurity positions. But SMBs need much more than a Gen Z tech who can configure a firewall or set up multi-factor authentication. They need a true business risk mitigation strategist with the expertise and experience to design, direct, and drive top-to-bottom security programs that are both optimally effective and optimally resource-efficient.
Because—while SMBs must stop cyberthreats—they don’t have unlimited budgets for doing so. So they need someone with an executive-level mindset who knows how to stretch a budget and keep security investments tightly and continually aligned with business imperatives.
That means:
Understanding the SMB’s unique business goals, operations, and digital portfolio
Translating that understanding into an accurate analysis of business risk
Crafting a strategy to allocate available resources in the way that best addresses those risks
Turning that strategy into a written information security plan (WISP) that gets everyone across the organization—from the IT help desk to the CEO and CFO—on the same page.
Leading implementation of the WISP to keep everyone on track and accountable.
Reviewing and revising the plan as necessary over time to achieve continuous improvement, respond to an ever-evolving threat landscape, and adapt to constant change in the business.
Advising top management about how their planned initiatives may impact the organization’s security and business risk posture—and how those foreseeable impacts should be factored into their decision-making, budgeting, and project timelines.
These are the core roles and responsibilities of a Chief Security Officer (CSO). And they’re not optional. They’re absolutely essential for an SMB to grow and thrive safely in a digital world fraught with danger.
But how do you hire a CSO if there are no CSOs to hire?
The vCSO solution
This is obviously where the virtual CSO (vCSO) comes in. By engaging a vCSO, SMBs can reap the benefits of an in-house CSO without all the difficulties—and perhaps even the impossibilities—of finding, recruiting, interviewing, hiring, and retaining an executive-level hire.
Plus, a vCSO can actually deliver more value to an SMB for three reasons:
vCSOs leverage economies of scale to provide CSO capabilities at a fraction of the cost.
Because vCSOs have broader experience across multiple organizations, they more effectively “cross-pollinate” best practices, lessons learned, and the latest innovations.
Unlike CSOs, vCSOs don’t quit their job because someone else offered them better pay and better benefits in a better location. So they enable SMBs to avoid the agony of repeated executive turnover.
Bottom line: In a dangerous digital world—where you need executive guidance of your risk mitigation strategy, on top of all your diverse cybersecurity “piece parts”—a vCSO is one of the best investments you can make in the future of your business.
To learn more about how a virtual CSO can help you protect your business while saving you money, contact us or contact any of the vCSOs listed in our vCSO Directory.