Cybersecurity industry grapples with skill gap as job vacancies remain unfilled

Cybersecurity industry grapples with skill gap as job vacancies remain unfilled

Cybersecurity industry

The cyber security industry in India is experiencing a skills shortage, resulting in numerous unfilled positions. This contrasts with a broader decline in technology spending and hiring, which has caused several companies to reduce their workforce.

According to a report published on June 21 by staffing firm TeamLease Digital, the industry saw more than 40,000 job postings in the first five months of 2023. However, despite strong demand and rising salaries for such positions, nearly 30% still needed to be fulfilled.

According to experts, the industry is impacted by a shortage of skilled professionals for required roles, high attrition rates, and often-extreme stress levels.

Another report, published on March 28 by TeamLease Digital, predicted that the information technology (IT) services sector, India’s most prominent tech recruiter, would reduce annual hiring by up to 40%.

Firms in the IT services sector and beyond, on the other hand, are continuing to hire cybersecurity professionals, which is reflected in the increase in the number of cybersecurity jobs.

“Last year, the cyber security industry had about 45,000 open opportunities, with a 37% gap in the supply of skilled professionals,” TeamLease Digital CEO Sunil Chemmankotil said.

IT service providers have also expressed difficulty in hiring cybersecurity personnel. Debashis Chatterjee, managing director and chief executive of IT services firm LTIMindtree, said in an interview on June 22 that the company is still recruiting cybersecurity talent despite a drop in overall hiring.

“In the current market, there are niche skill requirements that our clients seek and are willing to pay for— cyber security is one such area where demand is consistent,” he said.