Cyber Security Predictions 2023
Happy New Year! We hope everyone had a relaxing break over the past couple of weeks. As is tradition at the start of the year, and leading into what will no doubt be a busy 12 months ahead, we put our heads together to compile some of our predictions for the Cyber Security industry in 2023.
So, without further ado, here are the most common themes to come out of the Decipher Bureau ‘crystal ball’:
Data breaches aren’t going away any time soon
This will come to no surprise for those both in the cyber security space, and the general population. In many instances it is no longer a case of ‘if’, but ‘when’, particularly for those organisations who are yet to plan for a data breach event.
Further, off the back of the number of (and high profile) cases in Australia in 2022, there is likely to be an increase in compliance regulation across the board, with more accountability on organisations to mitigate against cyber attacks.
It’s still a great time to be a Cyber Security professional
The cost of data breaches is significant, both in immediate dollars, but also reputation. We believe that mid- to large-sized corporations will look to bolster their security teams and capabilities as a result. To combat talent shortages in these areas, a move to hire junior to mid-level resources, and then train and grow the skills from within is likely, as well as looking for more diverse experience to fill cyber security roles.
From a recruitment perspective, we noted in our last Salary Guide that in the last 12 months we have had increased requests for SecDevOps Consultants, AppSec Engineers, Digital Security Specialists, and a number of variations of a similar theme. As organisations continue their digital transformation journey at pace and in the cloud, the need for resources with experience of security in a devops and cloud environment is unlikely to slow down in 2023. Further there will be more projects requiring specialists in Zero Trust (IDAM/PAM) and architectural reviews.
Looking at leadership and C-suite level roles, with Governments and regulators demanding stronger security requirements, this puts Chief Information Security Officers (CISOs) in the spotlight. More organisations are likely to appoint this role, and this will come with increased accountability and responsibility.
We also expect further Government investment, reinforced by the appointment of Australia’s first dedicated Minister for Cyber Security in 2022. We are also seeing some Government agencies look to build cyber teams Australia-wide to attract the best talent, rather than remaining Canberra-centric.
However, we will see some small changes in the market
Compared to the hectic activity of the last couple of years, we do predict the cyber security market will settle a little in 2023. As mentioned above, there will still be plenty of opportunities but we’re unlikely to see the significant increases in salaries continue at the same rate. Organisations will also be analysing operating costs in line with the current economy - this may mean some redundancies, however we’d expect this to be minimal in cyber and any security professionals will be snapped up quickly.
As specialists in our field, we always aim to undertake an open, rigorous recruitment process with our client/partners, as well as the candidates we work with, to obtain the desired outcome for both parties. If you’d like any more information about recruiting or retaining top cyber security talent, or if you’re looking for your next cyber security role, reach out to the Decipher Bureau team. With offices across Brisbane, Sydney, Melbourne and Canberra - and an experienced team around the world, we’d love to help you out.
Speaking of recruiting top talent, Decipher Bureau is currently looking for consultants! If you're interested in having a chat about joining the team, and to find out why we’re a great place to work, please get in touch.