Adrian Johnson
TLDR:
- Larger organizations are increasing their cyber workforce, with one cyber professional per 1,086 employees in companies with more than $1 billion in revenue.
- The cyber maturity level of organizations is reaching record highs, with some companies hitting 80% to 90% cyber maturity.
Cyber Workforce Numbers Rise for Larger Organizations
The latest report from Wavestone’s “Cyber Benchmark 2024” reveals that larger organizations, particularly those with more than $1 billion in revenue, have been strengthening their cyber workforce. The number of cyber professionals per 1,086 employees in these organizations has increased by 15% compared to 2023.
Financial businesses are leading the way in cultivating a robust cyber workforce, with an average of one cyber expert per 267 employees. Industrial groups, on the other hand, lag behind with only one cyber expert per 1,390 employees.
Despite the positive trend in bolstering cyber defenses, organizations still face challenges in areas such as third-party security and industrial system security (ICS), with average maturity levels at 48.9% and 39.9%, respectively.
In addition to workforce data, the report highlights the overall cyber readiness level of organizations, which has reached 53%. Some companies have achieved cyber maturity levels as high as 80% to 90%. Budget allocations for cybersecurity have stabilized at an average of 6.6% of IT budgets across sectors.
Organizations are also seeing progress in cloud security and data security programs, with maturity levels rising by 5% and 4% respectively compared to 2023. Initiatives to ensure talent retention have also been launched by many companies.
Despite the progress made, companies still grapple with challenges in certain areas like third-party security and industrial system security. Steps have been taken to address these issues, but there is room for improvement in closing the gaps.
