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Why Is the Cybersecurity Gap Growing?

06Jun
Green KeyHuman Resources, Information Technology, Leadership + Management

In 2016 Cisco estimated there were a million unfilled cybersecurity jobs worldwide. Last November, (ISC)2, the International Information System Security Certification Consortium, said the world was short 4 million cybersecurity professionals.

Why has the gap widened?

Dice.com, the tech careers site, says the reasons are numerous. Two, though, stand out, Dice says in a recent post:

  1. “Many cybersecurity workers feel constrained by a lack of career development and training offered to them.”
  2. “Enterprises that need highly-skilled and motivated employees to ensure the business is secure are not taking the right steps to nurture the talent needed to make that happen.”

To explain that, Dice cited a survey by Enterprise Strategy Group (ESG) and the Information Systems Security Association (ISSA), which revealed that 68% of the cybersecurity professionals feel they have no well-defined career path. Most moved into security because of a personal interest after first working in different IT areas.

Steve Durbin, managing director of the Information Security Forum, told Dice there’s a disconnect between human resources and security teams. HR doesn’t understand what skills are important, nor does it recognize the mental and physical toll cybersecurity takes.

“This hinders the organization’s ability to identify relevant talent and provide adequate support for the professional development of the security workforce,” Durbin said.

It’s easy to get “pigeonholed,” Morgan Mango, a cybersecurity researcher, says. As an example, she says someone working in PKI early in their career might get tagged as a specialist, limiting their options.

“I would always suggest people to find a job in cybersecurity that’s very flexible and very broad in terms of job description and tasks,” Mango told Dice.

Organizations have a responsibility to encourage development of their security professionals.

“To build a sustainable security workforce,” Durbin said, “Organizations should adapt to market demands by seeking candidates with diverse competencies and skill sets coupled with providing competitive benefits and structured career development. For some these changes are already underway but for the majority, the approach is still new and untried.”

Photo by Adi Goldstein on Unsplash

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IPO activity that was on track to regain the momentum of the first quarter of 2018, may now end 2020’s Q1 just slightly better than last year.

EY’s quarterly Global Trends Report says the quarter ending today will show no more than 235 IPO deals. Better than 2019’s 211, but far short of the 323 reported in 2018. The dollar value also pales in comparison: $28.5 billion this year versus $48.7 two years ago.

“The unexpected and novel events surrounding COVID-19 took a toll on the global health of equity markets,” says Paul Go, EY global IPO leader, “and together with other global market factors, have caused market turbulence last seen only during the global financial crisis of 2008.

“This extreme market volatility makes any ambitions to go public highly uncertain, both in terms of timing and valuation.” 

Surprisingly, given that China was the first to experience the effects of the coronavirus, the nation accounted for 90 IPO deals worth $13.2 billion. Asia-Pacific overall was responsible for 160 deals totaling $16.8 billion, a 28% and 110% increase respectively compared with Q1 2019.

EY Asia-Pacific IPO Leader Ringo Choi, noting that Covid-19 had “some impact on IPO activity,” predicted that “with government policies and economic stimulus packages in place, IPO markets should see some improvement in the quarters to come.”

In the Americas, where the US accounted for 24 IPOs worth $7.3 billion, “Covid-19 and oil tensions have largely dried up IPO activity for now, ” observed Jackie Kelley, EY Americas IPO leader. She added that “The IPO pipeline is growing, as issuers look for opportunities to be prepared for calmer and more conducive markets.”

Despite that optimism, the EY report announcement says, ” IPO markets are not expected to quickly rebound in Q2 2020. However, while Q3 is typically a slower time of the year, there may be increased IPO activity as the market attempts a reset and the global pipeline looks for the next IPO window.”

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Human Resources
Jun 6, 2023

This Year, the Office Party Is Going Online

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Jun 6, 2023

This Year, the Office Party Is Going Online

Like so many other things this year, the annual office holiday party is in danger of becoming yet another COVID casualty.

But it doesn’t have to be. There are alternatives, says the Society for Human Resource Management.

“Managers are finding other ways to help their workers celebrate this year,” reports an article on the SHRM website. Virtual parties and gift exchanges, online team cooking experiences, wine tastings and corporate gift-giving, are some of the ways companies are showing their appreciation for making it through a challenging year.

“While nothing can entirely replace an in-person experience,” says Taylor Paone, senior manager of employee experience and culture at DailyPay, speaking to SHRM, “These initiatives give employees the chance to bond and have a little fun.”

According to the promotional products firm IPromo there’s been a surge in corporate holiday gift orders. Instead of spending on the traditional office party, companies are opting for more expensive gifts employees will use all year.

“Employees may appreciate a high-value gift that they will use often,” more so even than “a once-a-year party,” says iPromo CEO Leo Friedman.

Another option is to host a virtual holiday party. Preciate Social built a platform especially for parties and social events. Different from virtual meeting platforms like Zoom, Preciate Social enables multiple conversations to take place simultaneously. Participants can circulate among others attending the event, striking up conversations similar to how they would in person. There’s even the background murmur of other conversations. Musicians and other performers can provide entertainment.

You can also use Zoom to throw a virtual party. Since the pandemic, YouTube and Instagram have seen hundreds of virtual event how-tos uploaded. This one, explaining how to host a virtual happy hour or party, has been seen 64,000 times and has more than 100 complimentary comments.

Rouxbe, an online culinary school, provides recipes and video instructions for a virtual dinner-making event. Coordinators select a menu from the hundreds of recipes for a three-course meal. Companies can opt to mail the ingredients to each employee or send them a supermarket gift card. At party time, everyone gathers on Zoom to cook together and even enjoy a cocktail.

For companies that have been holding regular Zoom meetings and hosting virtual social events, a holiday gift employees might value even more is time off. Paone says, “Zoom fatigue and the solitude of working remotely is an ongoing challenge and we must encourage staff to step back from the computer and spend time doing activities that re-energize and recharge them.”

Photo by Pineapple Supply Co. on Unsplash

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