How SMEs Can Compete by Attracting Cyber Security Graduates

SMEs can struggle for several reasons. That could be understanding complex regulatory demands or attracting relevant talent to combat the cyber security skills shortage. These problems, among others, are impacting the cyber security industry, but they’re hurting SMEs at a magnified level. This is primarily due to financial restrictions, though this isn’t the only reason. Importantly, for SMEs, there is a solution - and one that isn’t financially crippling. 

Our guide explores how SMEs can attract cyber security graduates and remain competitive with larger corporations. 

The cyber security recruitment challenge 

The cyber security industry is in the midst of a talent shortage. The demand for skilled cyber security experts is an issue impacting governments, institutions, individuals and businesses. Irrespective of a company’s size, cyber criminals do not discriminate in their attacks. However, in contrast to larger businesses, an SME’s vulnerability to attacks is magnified. 

An overview of the ramifications 

A multitude of reasons are contributing to the cyber security skills gap, and the gravity of the problem is illustrated with the following stats: 

• In 2024, the existing cyber security workforce comprises 5.5 million people, representing a minimal growth of just 0.1% yearly. 
  
  
• Globally, the workforce gap is up to 4.8 million, a 19% increase from the preceding year. 
  
  
• To meet current demand and address the issue, the total workforce needed is approximately 10.2 million worldwide. This is an 8.1% increase from the previous year.  
  
  
• By 2030, the global shortage could reach 85 million workers and impact several industries. This shortage could result in a projected $8.5 trillion in unrealised annual revenue.  

Why is this a greater problem for SMEs? 

Businesses across all industries should demonstrate diligence regarding cyber security measures. The pressure to have sufficient defences is particularly taxing for SMEs. Here’s why: 

• Budget Restrictions: SMEs do not have the financial power of larger corporations and often neglect spending on cyber security measures. According to research conducted by JumpCloud, 41% of SMEs are expected to cut back on cyber security spending due to economic challenges. 
  
  
• Misconceptions: Many SME owners wrongly believe that they’re not a worthwhile target for cyber criminals and implement lax measures. However, SMEs often provide services to big businesses. Cyber attackers exploit flaws in SMEs’ systems to gain access to larger targets. 
  
  
• Working From Home: There’s been a transition to remote and hybrid working, meaning many employees access systems through unsecured networks - 31% of organisations encountered security incidents because of this. 

What’s causing the cyber security skills gap? 

With such disconcerting figures associated with the dearth of cyber security experts, there’s seldom a sole factor. Rather, it’s a complex combination that is the root of the cause. For example: 

Technological developments 

Technological evolution is a constant. While much of the advancements are used as a force for good, a portion of opportunists leverage it in a malicious manner. The volume and sophistication of cyber attacks are increasing, adding to the growing demand for cyber security experts. These stats highlight the issue:

• As per Check Point research, in Q2 of 2024, global cyber attacks reached 1,636 weekly attacks per business - a 30% increase.  
  
  
• Businesses in the UK are subject to a new cyber attack every 44 seconds, a 5% increase than in the previous year. 
  
  
• In 2024, malware attacks increased by 30%, while encrypted threats rose by 92%. 
   

Digitalisation 

To remain competitive, SMEs must embrace digital transformation. This means implementing the latest technologies, such as cloud computing and IoT devices. Unfortunately, adopting these technologies without proper measures can render SMEs susceptible to cyber attacks. In 2024, 27% of businesses had a public cloud security incident, a 10% rise from 2023. 

Regulatory compliance 

Adhering to stringent and often complex cyber security regulations can burden the industry, let alone SMEs. Many cyber security experts have expressed frustrations with the intricacy of provisions. In a survey of 200 technology decision-makers carried out by Infosecurity Europe, the following was found: 

• Almost half (44%) of those surveyed conceded to struggling to comply with cyber security regulations because they are hard to understand and time-consuming to implement. 
  
  
• The US Sarbanes-Oxley Act (SOX) is among the most difficult to implement, with 41% referring to it as “very complex.”
  
  
• Three-quarters of respondents described the UK Data Protection Act, EU Cybersecurity Act and NIS/NIS2 as “somewhat complex.” 

Compounding the complexity of regulations is the pace at which they change. Cyber security experts find it troublesome to stay abreast of the latest requirements. These constant changes necessitate continuous learning, but 67% of professionals admitted job demands make training difficult. 

The solution: recruiting a cyber security graduate 

By offering cyber security graduate jobs, SMEs can overcome a series of obstacles while simultaneously combatting cyber criminals and competing with larger businesses. When it comes to cyber security recruitment, here’s an overview of the benefits of turning to graduates. 

Latest knowledge 

Cyber security graduates bring SMEs expertise in cutting-edge tech that can galvanise defences against cyber threats, including: 

Artificial Intelligence and Machine Learning (AI and ML)

Through powerful tools that detect, prevent and respond to threats, AI and ML are strengthening cyber security measures. Here are some examples: 

• Threat Detection and Analysis: In real-time, Darktrace leverages AI to identify and respond to anomalies that could be cyber attacks. 
  
  
• Malware and Ransomware Protection: CrowdStrike uses ML to analyse malware behaviour and prevents software from encrypting files. 
  
  
• Phishing Prevention: AI can analyse email users’ behaviour to detect and block phishing attempts. 

Zero Trust Models 

This is a cyber security approach that is founded on the principle of ‘never trust, always verify.’ Irrespective of location or access history, with this model, no user, device or network is trusted. 

Endpoint Protection Platforms (EPP)

Endpoint protection is at the centre of contemporary cyber security strategies. It safeguards multiple devices connected to an organisation's network. An EPP consists of: 

• Antivirus protection
• Data encryption
• Intrusion prevention
• Data loss prevention (DLP)

A cost-effective approach to cyber security recruitment 

Elevating cyber security measures without exceeding budgets is a tough task for SMEs, but it isn’t impossible. Cyber security graduates are a cheaper alternative to professionals who have been in the industry for several years. It’s important to note that a lack of experience doesn’t mean a lack of skills - as discussed, graduates tend to be proficient with the latest tools and best practices. 

Recruiting a cyber security graduate is also a shrewd strategy for SMEs. Young professionals can be shaped to emulate a company’s ethos and values, which can be advantageous when creating a positive culture. 

In addition to a positive culture being cultivated, a strong brand image is built, too. SMEs seen recruiting the next generation of cyber security experts will be deemed forward-thinking. This belief and trust in graduates could be a catalyst for an influx of emerging talent in the industry. 

How can SMEs attract cyber security graduates?

There are many benefits to SMEs offering cyber security graduate jobs, but with strong competition within cyber security recruitment, how can smaller businesses stand out and appeal to fresh talent? 

Enticing job descriptions 

When SMEs advertise cyber security graduate jobs, it’s essential that a true representation of the job is specified, including the responsibilities and skills needed. Inclusive language is a must. Failing to do so could alienate prospective candidates. 

Furthermore, SMEs are unique and have a range of benefits. This must be conveyed in the job description. For example: 

• Personal and Skill Development: Typically, SMEs have smaller teams. This means cyber security graduates have the opportunity to expand their knowledge in the industry. Also, graduates are likely to be given more responsibility and ownership of their work, which results in enhanced soft skills that are key for leadership positions - which is ideal when SMEs tend to promote from within. 
  
  
• Access to Senior Staff: Graduates will communicate more regularly and directly with figures holding senior positions. This relationship can be immeasurably positive as it gives exposure to pivotal decision-making. 

Promote development 

Sustainable personal growth is important for graduates. Therefore, SMEs should offer cyber security graduate programmes that enable skills to be developed and new ones learned. LinkedIn’s Workplace Learning Report found that more than half (53%) of Gen Z workers value learning for career progress. 

Hybrid working 

Remote and hybrid working is an expectation, with many employees valuing flexibility. In the United Kingdom, according to one report, 74% of workers prefer hybrid working. By not offering a hybrid model, SMEs could miss out on recruiting exceptional talent. 

Final say: How cyber security graduates keep SMEs competitive 

Cyber security recruitment has become a prevalent issue for a number of reasons. Technological developments, businesses undergoing digital transformation, and rigid regulations have all contributed to a skills gap. However, SMEs, in particular, have felt the weight of this problem.  

Thankfully, for SMEs, there is a solution that allows them to compete with bigger businesses. By recruiting cyber security graduates, smaller businesses get young experts who have the latest knowledge and can stay within budget constraints. Additionally, SMEs can ensure the new generation is aligned with their values and principles, creating both a strong culture and brand image. 

To successfully attract leading talent, SMEs must create compelling cyber security job adverts, commit to career growth, and offer hybrid working models. By investing in a new wave of talent, SMEs protect themselves now and in the future. 

Trusted and proven cyber security recruitment strategies

If you’re an SME concerned about paying the price for not having sufficient cyber security measures in place but are entangled with financial restrictions, we can help you find people to protect your business. 

From one of the largest IT service brands in the world to SMEs, our cyber security team has worked with many service providers. Our consultants combine deep industry knowledge with an extensive network to deliver results and exceptional customer service. 

Visit our cyber security page to discover how we can support your needs, or contact us today and speak with a team member.