The cybersecurity skills gap continues to widen, with serious consequences for organizations worldwide. According to IBM’s 2024 Cost Of A Data Breach Report, more than half of breached organizations now face severe security staffing shortages, a whopping 26.2% increase from the previous year.

This skills deficit adds an average of $1.76 million in additional breach costs. 

The shortage spans both technical cybersecurity skills and adjacent competencies. Cloud security, threat intelligence analysis and incident response capabilities are in high demand. Equally crucial are skills in data analysis, risk management and compliance expertise. 

According to cybersecurity experts, an incident response specialist is one of the most critical roles for reducing breach impacts. The IBM reports from 2020 and 2022 make it clear that the ability to quickly detect, contain and mitigate breaches can radically reduce costs. 

While a well-rounded security team with diverse skills remains the ideal scenario for most organizations, it remains elusive for many. 

Cloud security expertise is also increasingly prized as more organizations migrate data to the cloud. 

Strong coding skills for secure development and automation are also in short supply. Proficiency in security information and event management (SIEM) tools and threat-hunting techniques can significantly improve detection and response times. 

While technical prowess is crucial, soft skills are also surprisingly important. The number one soft skill, of course, is communication. Cybersecurity pros need to be able to explain complicated security concepts, processes and threats to non-security technical people and non-technical people in the organization. 

In incident response scenarios, staying calm under pressure and making sound decisions quickly can make the difference between a contained incident and a full-blown data breach. Problem-solving skills are also essential when teams encounter unfamiliar threats, requiring creative thinking to develop custom containment strategies. 

Organizations should be wary of certain traits when building security teams. Rigidity and an unwillingness to learn are major red flags in an industry where the threat landscape evolves constantly. Lone-wolf mentalities are also detrimental, as effective security requires collaboration across multiple disciplines. 

Hiring people who can think critically, collaborate effectively and adapt quickly to changing circumstances is critical. 

Many organizations are taking a multi-pronged approach to combating the skills shortage. Common strategies include expanding internal training programs, encouraging certifications and partnering with universities to develop cybersecurity curricula.