A new study by (ISC)2, a cyber security certification group, found that cyber security professionals are likely to be better off than most other workers during an economic downturn. As corporate executives fear that a recession could lead to an increase in cyberattacks, they recognize the challenge of recruiting skilled professionals in this field.

According to a survey of 1,000 non-technical C-level corporate executives, it was revealed that during a period of downsizing, companies are less likely to cut jobs in cyber security, IT, and operations, while they are more likely to do so in human resources, finance, and operations departments.

The reasons for this trend are clear: 80% of executives predicted that economic challenges would lead to a rise in cyber threats, and 87% stated that cutting back on cybersecurity staff would heighten their company’s risk.

According to Clar Rosso, CEO of (ISC)2, the findings indicate that even non-technical CEOs have raised the importance of cyber security.

“We talk to cyber security experts in the workforce study every year, so we know what they think,” she says. We can now see that organizational executives are indicating that [cybersecurity professionals] are at the bottom of their list of employees to fire and at the top of their list of candidates to bring back.

Despite favourable employment statistics and the Federal Reserve’s ongoing efforts to increase interest rates and reduce the money supply, most economists are still anticipating a recession in 2023. In a Bloomberg poll conducted in December, a recession was predicted to occur 70% of the time, while in a Wall Street Journal poll conducted in January, it was predicted 61% of the time.

Despite an annual inflation rate above 4% for the past 22 months, businesses are already taking measures to prepare for a potential economic downturn, such as reducing personnel. According to Layoffs, over 55 cyber security suppliers have already made staff reductions.

Jobs in Cyber security Are Resilient.

According to the (ISC)2 report, support and administrative positions make up the majority of those let go rather than IT or cyber security positions. In addition, according to the report, only 31% of businesses intend to cut back on their cyber security staff if the economy suffers, while 51% will prioritize reinvesting in cyber security.

Among all business units, cyber security has the widest gap between the two attitudes, with IT teams following in second with a 35% expectation of a decrease in spending during difficult times and a 49% anticipation of an increase during prosperous times. The most vulnerable departments are human resources and sales, where 44% and 41% of CEOs say they will fire employees in tough times, respectively. In comparison, 29% and 30% will prioritize reinvesting in those areas if the economy recovers.

The (ISC)2 poll indicated that 74% of CEOs would consider employing cyber security workers who were laid off from other organizations, highlighting the unmet demand in the field.

According to the report, cyber security employees might gain from proactive hiring aimed at filling recent cutbacks at companies like Twitter, Meta, Microsoft, Amazon, and Google. Given the recent layoffs in the computer industry, it’s feasible that many of those people will find employment opportunities in cyber security, where they can use their relevant knowledge and abilities.

As a result of the Great Resignation in 2022, which saw many workers burn out and leave their jobs, the need for cybersecurity professionals has remained strong.

According to Rosso, there are three key reasons why businesses shed valuable specialists. Teams working in cyber security have historically had limited possibilities for professional growth, making it difficult for them to advance within their present employers and earn higher compensation. However, she adds, the culture that permeates many security teams frequently contributes to burnout and mental stress.

“We know, for example, that the Log4j issue was forcing individuals to clock a lot of hours at the end of 2021 and the beginning of 2022, and that contributed to some burnout,” she says. “Cyber security experts work hard and long hours all the time, but there has been an increase above and beyond,”

And last, the need to get people back to work has frequently made those with in-demand specialties go elsewhere.