Cybersecurity Risk Seen As Biggest Threat To The Employee Reward And Incentives Sector, Reveals New Research

Author:Mr Shane Hugill and Shervin Binesh
Profession:Intertrust
 
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80% of respondents believe cybersecurity is a key risk in the adoption of new technologies 42% admit they are most exposed to skills shortages in cybersecurity and RegTech 47% of respondents say their firm is recruiting new tech talent at a senior level and plans to increase training for existing staff New research from Intertrust reveals that 80% of employee reward and incentive professionals believe cybersecurity is the biggest challenge facing their industry.

Employee reward and incentive systems share high volumes of data with third parties via portals and tech platforms that overlay each other. The risk that systems are hacked and suffer data breaches is a big concern, as is compliance with data protection laws that govern where employees' personal data is stored.

Shortage of skilled staff or inability to recruit tech talent as well as major IT failures were identified as other causes for concern by 10% of respondents.

Around 42% of professionals responding to Intertrust's survey admit that firms are most exposed to skills shortages in the areas of cybersecurity and RegTech. This is followed by data analytics (37%), artificial intelligence (32%), blockchain (21%) and general coding (11%).

However, despite the skills gap created by emerging technologies, almost half (47%) of respondents claim to be in the process of recruiting new tech talent at a senior level with plans to increase training for existing staff. A further 79% believe that organisations in their sector will create more senior C-Level technology director roles with a...

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