A call to action
Les recent global crash of machines using Microsoft Windows has highlighted the critical importance of cybersecurity throughout all areas of the economy. Ironically, the crash itself was the result of a software update provided by CrowdStrike, one of the leading cybersecurity firms worldwide. But the scale of the global tech outage clearly illustrates how reliant businesses, organizations and even governments are on protecting digital assets. Analysts tell us that the field of cybersecurity is changing quickly, which means that Canadian enterprises need to take steps to stay ahead of emerging threats—not just to our digital networks, but to the real-world infrastructure that supports our economy and our well-being.
That’s one of the findings of a report released by Palette Skills et Deloitte examining six key areas of economic growth and opportunity, including cybersecurity. The Palette Skills-Deloitte report is a macroeconomic look at the challenges, trends, and opportunities that lie ahead for Canadian businesses and workers involved in each of these sectors.
When it comes to cybersecurity, the report offers an analysis of broader global trends before zeroing in on the impact of a shortage of skilled workers to demonstrate that governments and industry must pay more attention to cyber threats, and how to source the talent required to protect our information and economy.
Cybersecurity is changing
So what is cybersecurity? Canada’s department of Innovation, Science and Economic Development (ISED) defines it as the the “application of technologies, processes, and controls to protect systems, networks, programs, devices and data from cyber-attacks.” As a result of the digitalization of nearly every part of the economy, cybersecurity is now a larger and more complex activity, and more important than ever before.
Despite this succinct definition, there is an emerging consensus that for too long, Canadians have thought of cybersecurity as something that only technical experts have to deal with. In fact, the threat landscape is so large and the possible impacts so profound that cybersecurity needs to be understood as a fundamental aspect of doing business. Not only that, meeting the challenge of cybersecurity requires going beyond individual actions to build a collective approach that ensures the safety of digital assets.
Protecting knowledge and the economy
As Canada builds a stronger and more productive economy, businesses, researchers, and government will have to do more to protect digital information and intellectual property. Digital assets aren’t just about databases and financial transactions; digitization is reshaping every sector of the economy, including the resource-based industries that have long been a mainstay of Canada’s GDP. From transportation to energy and beyond, the networks of information that link our country reach the everyday lives of Canadian workers and the businesses that employ them.
Predictably, the greater reliance on digital infrastructure has led to a corresponding surge in cybercrime and the impact is enormous. From ransomware to phishing scams, some have estimated that more than 85 per cent of Canadian organizations were affected by cyber attacks in 2022, with reports showing that cybercrime cost the Canadian economy over $5 billion in 2023. Accurate numbers are hard to come by, perhaps because the phenomenon is relatively recent, and as a result of underreporting. Understandably, a survey of Canadian executives reveals that more than two thirds consider cybercrime to be the most significant threat they face.
Employment growth in cybersecurity
The Palette Skills-Deloitte report charts how the role of cybersecurity specialists has changed over the last two decades, as well as how the number of professionals choosing to work in the field has climbed dramatically over the same period. The pandemic accelerated the demand for cybersecurity talent as more and more Canadian businesses and people embraced things like remote work and online shopping, and all indications show that the COVID-19 lockdowns and their aftermath have permanently transformed the acceptance and use of e-commerce in this country.
In response, Canadian enterprises and organizations have increased their spend on cybersecurity solutions, including hiring the people who can implement them. Despite this, evidence shows that at a global scale demand for cybersecurity professionals far outstrips supply. A closer look at the employment numbers in the Palette Skills-Deloitte report shows that as of 2022, there were an estimated 14,300 cybersecurity specialists employed in Canada, with 49 per cent of those working in Ontario. Quebec and the Western provinces employ 22 and 24 per cent respectively while out east, the Atlantic provinces employ about 5 per cent. In 2022, total employment in the sector rose by 12.2 per cent across Canada compared to 2021.
Significantly, the cyber sector has shown more robust growth than the broader ICT sector, and given the importance of cybersecurity in ensuring the integrity of digital assets for businesses and governments, its pace of growth is not expected to diminish any time soon.
Challenges
The Palette Skills-Deloitte report argues that to ensure Canada’s position as a global economic leader and to improve its competitiveness, the cybersecurity sector must meet and overcome a number of challenges. One of these is a scarcity of investment, which the report attributes to the perception of cybersecurity as a cost centre, rather than a strategic enabler. Not only does this misperception have an impact on digital risk management, it also means that many executives tend to overlook the extent to which robust security builds trust with consumers.
To meet these and other challenges, the cyber sector must find new ways of meeting the ongoing shortage of skilled professionals. One answer may be to build a more diverse workforce. The report indicates that the cybersecurity sector struggles with underrepresentation of women, racialized peoples, and other marginalized groups. Furthermore, a lack of mentorship and opportunities for skill development is a barrier to diversity, especially for groups who experience lower rates of participation in traditional university education.
Finally, the report finds that misconceptions about training and credentials have had a detrimental impact on the sector. Too often, employers and workers believe that it’s necessary to have a bachelor’s degree in an area such as computer science to succeed in a cybersecurity role. Unfortunately, this emphasis on traditional credentials actually hinders the sector’s ability to attract and retain top talent. Organizations—and workers interested in the field—need to change their mindsets and embrace the inherent value of practical skills, microcredentials, and related experience. By doing so, employers will be able to tap into a broader, non-traditional pool of qualified candidates with the necessary practical knowledge and expertise.
Participez à Upskill Canada
To help meet employment needs in the cybersecurity sector, Rehausser vos Compétences powered by Palette Skills has launched a suite of programs designed to rapidly train Canadians to step into critical cybersecurity roles across the country. There are so many exciting opportunities for building cybersecurity and great careers, and we invite you to join us.
