It’s no secret that companies currently face an acute talent crunch.
Between the pandemic, The Great Resignation and economic inflation – not to mention turbulent world events – we’re in a highly volatile labor market. Consider that even before these recent strains, there was a significant shortage of professionals in digital trust fields, and it’s clear that it is no small challenge to find and keep the talent that companies need.
ISACA recently put forward our annual State of Cybersecurity report, which found that 60 percent of respondents report difficulty retaining qualified cybersecurity professionals, up seven percentage points from the year before. The report also highlights the top reason professionals are leaving jobs: they are being recruited by other companies, which may come as no surprise to many of you with active LinkedIn profiles. While the report focuses on cybersecurity, this current turbulence in the job market extends to many other fields, particularly for in-demand technology roles.
That lack of stability in the workforce is difficult for companies, but the reality is today’s professionals often view themselves as working in a specific field or industry more than for a specific company. That doesn’t mean that it’s a foregone conclusion that companies need to experience high attrition among their top performers. It does, however, call for finding ways to make employees feel valued, and a central part of that is by investing in their career development.
My colleague Rob Clyde, an ISACA board director and past ISACA board chair, recently wrote that it is time for companies to go bold in their efforts to recruit and retain talent. I agree, and part of that approach has to be supporting the imperative that today’s professionals be continuous, lifelong learners. Allocating resources for learning opportunities such as team trainings, attending conferences (virtual or in person) and pursuit of relevant industry credentials not only will make employees more effective at their jobs, but importantly, it also sends a clear signal that employees are valued in both the short and long term. At a time when recruiters from competing companies are likely to be knocking on the digital door of your employees, it is becoming table stakes for companies to show through actions, not just words, that they care about their employees’ career paths.
From a practitioner standpoint, what an incredible period we are in for digital trust professionals. The current hiring landscape presents unprecedented opportunities for career advancement and flexibility. In many respects, professionals can write their own story of what direction they would like their career to take. There are many interesting, high-paying and high-impact jobs available for practitioners who are motivated to keep pace with current trends in the field. Professionals who show an understanding of the connection points between fields such as cybersecurity, privacy, risk and audit, who understand best practices for emerging technology implementation, and who generally demonstrate a commitment to continuous learning are widely coveted at a time when companies urgently need that caliber of professional.
As we look toward the future, there are many unknowns. How long will “The Great Resignation” persist? How will a post-pandemic workforce take shape? What will be the emerging technologies that drive new innovation and investment? What we do know is the workforce is rapidly changing, making it essential for both companies and practitioners to embrace an always-learning mindset. By supporting employees in their journey to be continuous learners, companies are more likely to keep their workforce engaged, and by committing to ongoing learning, practitioners will be empowered to seize the unprecedented opportunities that are there for the taking.