A Shifting Market is Keeping AI and Cybersecurity Recruiters on Standby

September 18, 2024 – The landscape of AI and cybersecurity recruiting is dynamic and constantly evolving. Executive recruiters say that there is a significant demand for skilled professionals in AI, including machine learning engineers, data scientists, and AI researchers. Companies across various industries are actively seeking talent to leverage AI for innovation, efficiency, and competitive advantage.

Meanwhile, with the rising frequency and sophistication of cyber threats, there is a heightened demand for cybersecurity experts. Roles such as security analysts, incident responders, penetration testers, and security engineers are in high demand. The intersection of AI and cybersecurity is becoming increasingly important. AI is being used to enhance cybersecurity defenses through automated threat detection, anomaly detection, and predictive analytics. Conversely, cybersecurity is critical in ensuring that AI systems are secure from adversarial attacks and data breaches.

Lea Hagglund, who leads technology, product, AI, and cybersecurity roles at NU Advisory Partners, says that “AI is transforming the executive search landscape in ways I wouldn’t have anticipated just a few years ago. At NU Advisory Partners, we’ve been integrating AI into our workflows in numerous ways to enhance both efficiency and quality day to day,” she said. “AI allows us to automate tasks that previously took a lot more time. It’s freed up our team to maximize our value-add: diving deep into understanding the unique needs of our clients and candidates.”

Using Artificial Intelligence

“Our team uses AI both internally and externally,” Ms. Hagglund said. “For example, we can now move mountains of unstructured data – emails, for instance – into our database with a click of a button. We also leverage AI to streamline our deck creation and free up our time to focus on candidate communication. Additionally, AI enhances our ability to market-map swiftly, as well as get quick answers to internal company questions, like benefits details.”

“However, despite all its power and capabilities, AI is still just a tool,” said Ms. Hagglund. “The heart of our work remains in the relationships we build and the insights we bring to the table. AI helps us be more efficient and informed, but it’s our team’s human touch – our ability to understand, empathize, and connect – that truly drives our success. As we continue to integrate AI into our processes, we’re excited about what’s next. The possibilities are vast, and they’ll quickly redefine the future of executive search.”

Cybersecurity roles are a board-level topic and a top priority in the market, explains Sal DiFranco, managing partner, global advanced technology practice at DHR Global. “New threats are emerging daily, and organizations need strong, technical cybersecurity leaders who can secure their environment, mitigate risk, and keep their business safe from potential threats,” he says. “Of course, cybersecurity leaders, specifically CISOs and top VPs of cybersecurity, are tasked with leading their teams in protecting an organization’s assets effectively. But equally important, now more than ever, it’s essential for these leaders to be strategic partners to the overall business. That means that CEOs need proactive leaders who can articulate best practices and the right approach to maintaining a secure and compliant environment, communicating both strategy and technology at the C-suite and board levels. Identifying and securing cybersecurity leaders who can blend their technical skill set, leadership, and business acumen is critical.”

Blending Technical Skills with Business Acumen

Mr. DiFranco also notes that cybersecurity has become a more specialized skill over the last 10 years, with organizations focusing on it as a critical need for the business. “There is now more talent available as cybersecurity organizations have grown to have multiple levels, functions, and levels of seniority,” he said. “Because of this, organizations need talent in a variety of levels. There is not a shortage of technical talent, but finding leaders who can blend the technical skills with business acumen to create an impact for an organization is where we see the talent gap in the field at the executive level.”

“AI has impacted recruiting by speeding up our recruitment process and providing us with enhanced capabilities to find, vet, and attract talent,” according to Mr. DiFranco. “It is streamlining our approach to finding and qualifying top candidates more quickly while delivering enhanced service to our clients,” he says.

“At the executive level, we are focused on finding leaders who have a strong technical background and skill set in addition to highly effective communication skills and understanding of the businesses they support,” Mr. DiFranco says. “The ability to translate technical issues, innovation, and how technology can impact business strategy is a critical factor for hiring managers. If candidates can’t bridge the gap between technology and the business, they tend not to be as valued as those who can.”

Can AI help tackle bias? Mr. DiFranco says it depends. “AI can analyze vast amounts of data to identify patterns of bias that might be invisible to humans, such as biased language in job descriptions or biased decision-making,” he said. “AI systems can also provide explanations for their decisions, making it easier to identify and correct biased behavior, thus enhancing transparency and accountability. However, AI systems can perpetuate biases if the training data is biased, highlighting the importance of using diverse and representative data. Additionally, human biases are complex, requiring continuous monitoring and updating of AI systems to adapt to new forms of bias.”

Mr. DiFranco says that AI will continue to help automate and streamline the executive recruitment process. “It is a tool that will support our work similar to how applicant tracking systems, LinkedIn, and other resources have become the norm in the executive search world,” he said. “AI helps to increase our productivity and provides us access to more data on candidates and the market as we make impactful placements for our clients.”

“The market for cybersecurity recruiting has shifted a good amount,” said Drew Fearson, CEO of Ninjajobs, a cybersecurity recruiting firm operating under the Direct Recruiters brand. “The last year saw layoffs across the board after the COVID hiring boom, then hiring freezes. We have started to see some hiring come back, as hiring managers are realizing a lot of internal recruiters are spread too thin. We are also seeing companies ask for contract labor/staff augmentation to circumvent full time headcount caps.”

Mr. Fearson notes that for years, there hasn’t been a shortage of people looking for jobs, as many have attempted to enter into the field over the years, pushed by the promise of high salaries, and aided by any number of short-term cyber training programs. “The trick now is to identify those that have actual talent and potential and help them cut through the high signal to noise ratio,” he said.

“In regards to AI, there are multiple ways recruiters are using this technology to help their jobs,” Mr. Fearson said. “It can and is used in creating Boolean search strings, creating job descriptions when there isn’t one already made, automated meeting note taking. Some are even using it to do a first screen on candidates.”

Using AI to Lighten Workload

“I believe AI will allow us to be more efficient with our time and handle a heavier workload,” said Mr. Fearson. “As with any tool, I believe the key will be to figure out how to wield it effectively, while not becoming fully reliant on it.”

The overall executive search market during the last three to six months for cybersecurity companies that are VC backed is flat, according to Glenn D. de Gruy, founding member and senior partner and leader of the global cybersecurity practice at Kingsley Gate. “The VC deal volume remains soft and generally deal value has adjusted to the current market conditions,” he said. “Over the last 18 months, cybersecurity start-ups and early stage companies have experienced significant market headwinds to include their customers budgets remaining flat and in some cases modestly increasing. This has forced CISOs to prioritize their business investments in their top 5/6 cybersecurity technologies, and not spending to far outside of those targeted areas. There is cautious optimism in the market to regain some momentum around the upcoming National elections and for the Fed to begin to reduce interest rates and inflation to begin to flatten.”

“There is not a shortage of technical talent, but finding leaders who can blend the technical skills with business acumen to create an impact for an organization is where we see the talent gap in the field at the executive level.”

“During this time, the top cybersecurity functional needs have been sales, marketing, and product management,” Mr. de Gruy said. “The hiring leaders continue to focus on cybersecurity knowledge, experience and leadership competencies and unwilling to consider leadership talent outside of this category. We believe this is problematic for the industry and minimizes the ability to bring in new leadership competencies and experiences to drive growth and enterprise value that benefits both the companies and investors.”

“Also, to preserve cash and extend runway, before engaging with a retained executive search firm, we have seen these VC backed companies pause in their hiring decisions, roll up the responsibilities of the departed executive to another executive on an interim basis, and try to maximize their and BODs rolodexes,” said Mr. de Gruy. “These types of decisions often drive delays in attracting the right fit leadership and negatively affects business operations and continuity. We can significantly reduce the amount of time to place executive candidates, as a result of being focused on the global cybersecurity market and utilizing our innovative, proprietary technology tools. We can quickly understand our client’s needs and present leadership candidates that meet their scorecard requirements with velocity, accuracy (right fit) and transparency.”

Market demand for cybersecurity leadership talent far exceeds the current supply, according to Barry Cressley, executive director of CIO Partners. “The high demand is fueled by heavy investment in cybersecurity by organizations across the globe in response to regulatory requirements and the increasing frequency and sophistication of threats,” he said. “The need for rapid maturation of cybersecurity within hiring organizations and the high levels of security that they must deliver has created a seemingly endless demand for experienced leaders who are both knowledgeable on the subject and experienced in proactively solving problems under immense pressure.”

Complex Roles

“Meanwhile, on the supply side, a barrier of entry to leadership positions in the cybersecurity field lies in the complexity of these roles,” Mr. Cressley said. “Being a talented technologist is only the foundation. At the same time, it is incredibly difficult to take classroom cybersecurity knowledge and apply it to real world challenges where threats are constant and consequences can be extreme. While there has been an influx of entry-level cybersecurity candidates, they are generally not ready to fill the middle and upper tiers of a fully mature security organization. Many top cyber leadership candidates spent years in traditional IT roles learning the nuances of the effects of decisions made and are able to apply those lessons to cybersecurity and translate their skills and knowl- edge to defend against impending threats.”

Mr. Cressley also notes that when recruiting cybersecurity leadership talent, the expertise of an executive search firm that specializes in those roles can be invaluable in fully examining
the market and significantly shortening the time to fill these key positions. “The right firm will offer extensive knowledge of the technology leadership landscape, maintain a robust network of information security professionals, and place paramount importance on understanding the culture of the hiring organization and the typical threats they face,” he says. “It is imperative that a search partner presents leadership candidates who understand the client’s culture and pain points and are able to prescribe multi-faceted approaches to their people and technology.”

“Recruiting cybersecurity executives continues to be a dynamic and challenging environment,” said Whitney Ambrose, managing director of Diversified Search Group (DSG). “Demand remains high, even in a choppy jobs market, due to an ever-expanding threat landscape. Cybersecurity budgets continue to rise, although modestly, during a conservative economy. After a quiet 2023, there has been more activity in the cyber leadership recruiting market this year. Executives are starting to consider their next opportunity and organizations seemingly feel more comfortable investing in talent.”

“There will always be high demand for cybersecurity talent,” Mr. Ambrose explains. “How we define cybersecurity and risk management will continue to change as technology progresses and threats evolve, however there will always be a need for professionals who can mitigate risk and provide security for an organization. With high demand, ever changing technology, and expanding threats, there will be always be a need (and therefore a potential shortage) of cyber talent. How we define cybersecurity and what skills are needed in this industry may change but I believe the demand will always be there.”

“At Diversified Search Group, generative AI tools are helping our recruiters stay informed about new technologies and trends, create efficiencies in their workflow, and deliver high-quality materials,” said Mr. Ambrose. “AI assists in streamlining repetitive tasks, such as summarizing call notes, drafting follow-up emails, and generating initial drafts of job specifications. This allows our recruiters to spend more time focusing on what matters most—the client and the candidate.”

Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media

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