Secure in Uncertain Times: The Resilience of Cybersecurity Professionals in a Recession

As the world continues to move through uncertain economic times, there is one profession that has stayed resilient and competent – cybersecurity professionals. With the looming threat of recession, corporate executives are concerned that the challenge of hiring knowledgeable workers to maintain a safe cyber environment for their companies will increase. But a new study by (ISC)2, a cybersecurity certification group, suggests otherwise, finding that there is still a strong demand for cybersecurity workers due to the reality that businesses need to protect their data from cyberattacks that are increasingly likely in a recessionary environment.?

The survey of 1,000 nontechnical C-level business leaders found that companies are more likely to cut employees in human resources, finance, and operations, and least likely to cut in cybersecurity, IT, and operations. This is mainly due to the fact that 87% of executives thought a reduction in their cybersecurity team would increase their business risk, and 80% believed that economic troubles will lead to more cyber threats. In fact, a chart of anticipated staffing changes by department in 2023 shows that cybersecurity has the least likelihood of suffering staff cuts.?

Moreover, three-quarters of executives (74%) would consider hiring cybersecurity workers laid off from other companies – a testament to the variety of roles cybersecurity professionals can take on, from managing endpoint and identity security to controlling network access systems.?

The demand for cybersecurity professionals has only grown in the current climate, as organizations have lost valuable specialists partly due to the lack of career advancement opportunities and the working culture that has often led to burnout and mental stress. Furthermore, the push to bring workers back to the office has often led people with in-demand specialties to look elsewhere.

With the influx of cyber threats, business risks, and economic insecurity, it appears that cybersecurity professionals remain secure and sought-after in turbulent times.

The robust demand for cybersecurity professionals has been a saving grace for many during the economic uncertainty of the past few years. With the imminent threat of a recession in 2023, corporate executives are now turning to these professionals in an effort to protect their organizations from the increased security risks that come with economic strife.?

In fact, a survey found that only 31% of companies expect to reduce their cybersecurity workforce if the economy declines, while 51% will prioritize reinvestment in cybersecurity if the economy improves, making it the most resilient of all business departments.?

Moreover, there is a greater understanding of the importance of hiring experienced cybersecurity experts, as the vast majority of executives (81%) believe that threats will increase in 2023.?

This makes it all the more important for organizations to attract, hire, and retain the best available talent in the field, given that cybersecurity staff often represent the front line of defense for organizations.?

Cybersecurity teams have traditionally not had great career advancement opportunities, so their ability to gain promotions and increased salaries at their current company are often limited. The push to bring workers back to the office has often led people with in-demand specialties to look elsewhere.?

Fortunately, significantly more companies are prioritizing the hiring of cybersecurity professionals. Companies that have recently been through layoffs may find that many of those individuals may find opportunity in pursuing a career in cybersecurity, where they can apply related skills and expertise.

Ultimately, organizations can no longer afford to overlook their cyber security needs. With so much at stake and the looming threat of a recession, it would be foolish to ignore the necessity of hiring and retaining qualified cybersecurity workers who can protect their information from breaches and digital attacks.?

Companies must also consider job flexibility and remote working opportunities, as these can provide an important incentive to balance work and personal life. Furthermore, organizations should publicly recognize the work of their cybersecurity professionals, as recognition is often more impactful than a salary increase.?

While the future of the global economy may remain uncertain and the need to protect data continues to grow, the existence of qualified professionals ready to take on the challenge makes the resilience of cybersecurity much more certain.