Cybersecurity Private Equity

Cyber TRUST™ Index

124

+1

52 Week

210

120

Index at 100 on January 1, 2020

Evolving Cybersecurity Hiring [Weekly Cybersecurity Brief]

Beginning this week with the celebration of Martin Luther King Jr., the Cybersecurity and Infrastructure Security Agency tweeted, “Dr. King advocated, among many goals, for inclusiveness and equality – a theme that resonates in our Diversity, Equity, Inclusion and Accessibility (DEIA) Strategic Plan.” Like in every other field and sector, building cybersecurity teams that are reflective of the actual society we live in must be an absolute priority. So, in addition to setting up plans such as the CISA’s, we explore some of the other methods for expanding and fostering a diverse cybersecurity environment.

Hiring and retaining talent has already proven to be a challenge within cybersecurity. However, despite other tech layoffs throughout 2022, the demand for cybersecurity professionals is predicted to remain high considering that cybersecurity is essentially a universal need at this point. According to Fortune Education, the U.S. Bureau of Labor Statistics expects cybersecurity jobs to increase by 35% between 2021 and 2031. In 2023, experts project that the search to fill these openings will be driven by DEI goals. For instance, Microsoft Security partnered with community colleges to train 250,000 people by 2025 in order to establish entry points into the industry for more women and other underrepresented communities in cybersecurity.

When dissecting the industry, the Aspen Digital Tech Policy report concluded that “only 4% of cybersecurity workers self-identify as Hispanic, 9% as Black, and 24% as women,” as summarized by MK Palmer in a piece for Cybersecurity Dive. In order to increase these figures, CISOs and hiring managers need to adopt better, forward-thinking practices. This begins with job descriptions. Palmer points out that it may be beneficial to re-evaluate what requirements are necessary, including four-year college degrees. Instead, execs and HR professionals should develop training programs that assist both new hires and established staff members.

If companies do not prioritize diversifying cybersecurity teams, they are severely limiting the perspectives and ideas that could lead to solutions for issues such as software supply chain security risks, DDoS attacks and ransomware. And as ZDNet highlights, ransomware will continue to be a major problem. In 2022, ransomware gangs targeted organizations from universities to hospitals, and many more. This is likely to remain a concern across sectors in 2023, especially since ransomware’s international reach and use of emerging technologies make it hard to track. So, if we want to implement a proactive approach to threats like this, it is critical that the cybersecurity industry widens its opportunity.

Key Takeaways:

“The 3 cybersecurity hiring trends experts predict for 2023” – Sydney Lake, Fortune Education

https://fortune.com/education/articles/the-3-cybersecurity-hiring-trends-experts-predict-for-2023/

  • Despite other tech layoffs throughout 2022, the demand for cybersecurity professionals is predicted to remain high.
  • According to Fortune Education, the U.S. Bureau of Labor Statistics expects cybersecurity jobs to increase by 35% between 2021 and 2031.
  • In 2023, experts project that the search to fill these openings will be driven by DEI goals.

“Why CISOs should prioritize DEI initiatives in 2023” – MK Palmer, Cybersecurity Dive

https://www.cybersecuritydive.com/news/ciso-cyber-dei-hiring/640395/

  • The Aspen Digital Tech Policy report concluded that “only 4% of cybersecurity workers self-identify as Hispanic, 9% as Black, and 24% as women,” as summarized by MK Palmer.
  • In order to increase these figures, CISOs and hiring managers need to adopt better, forward-thinking practices.
  • This begins with re-thinking what is included in job descriptions and the requirements that are prioritized.

“Ransomware has now become a problem for everyone, and not just tech” – Danny Palmer, ZDNet

https://www.zdnet.com/article/ransomware-has-now-become-a-problem-for-everyone-and-not-just-tech/

  • Diverse teams can offer more solutions to growing issues like ransomware, which is likely to remain a problem in 2023.
  • In 2022, ransomware gangs targeted organizations from universities to hospitals.
  • Ransomware’s international reach and use of emerging tech makes it a difficult issue to track.
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