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HR directors’ concerns about security and privacy issues with technology aren’t unfounded – 85% of Singaporean CIOs anticipate more cyber-security threats in the next five years.
Singapore has the highest percentage of CIOs predicting ‘significantly more’ cyber-attacks in the next five years – 30% compared to the global average of 19%. Brazil (93%) and Japan (87%) are the only two countries most concerned than Singapore.
In a new report by Robert Half, the respondents put this down to a lack of skilled IT security personnel.
Cyber-security threats are already on the rise in Singapore, with close to three in four (72%) CIOs saying the number of detected security threats has increased compared with 12 months ago.
In the next five years, the most common among these cyber-security risks are: data abuse/data integrity (59%), spying/spyware/ransomware (54%), and cyber-crime (53%).
David Jones, senior MD, Robert Half Asia Pacific said: “The fight against rising cyber-threats is entering a critical phase… Companies know they need to take action to confront cyber-attackers. This means investing in a cyber-security strategy that brings together the right mix of technology and people.”
In response to the new wave of cyber-attackers, almost a quarter (23%) of Singaporean CIOs say they will be adding permanent IT security professionals to their team in the next 12 months. Another 29% are planning to hire IT professionals for newly added contract positions within their team.
Adding to the IT security skills gap is the fact that the most in-demand competencies, i.e. big data and data analytics (46%), cloud security (46%) and application security (38%) are among the most challenging to find in the labour market.
“As demand for new cyber-specialists entering the IT market outstrips supply, companies are being forced to reconsider their training and retention programs. They are also recruiting from overseas, partnering with educational organisations, and developing flexible hiring strategies that include both permanent and contract specialists, including external risk agencies,” Jones pointed out.
Photo / 123RF