Welcome to Barclay Simpson’s 2010 Information Security Market Report. This is the 20th corporate governance report and the sixth year we have published a specialist report on information security. We place great value on professional reaction to the Report and would appreciate your comments.
An overview of the corporate governance recruitment market and an in-depth analysis of the economic and business trends that are likely to shape the overall recruitment market can be found in our Corporate Governance Market Report.
Top Line Conclusion
A year ago many people had a sense of foreboding. We reported that the consensus economic forecast was for a further 1.5% contraction in the economy and a budget deficit of £78 billion. We noted at the time that there was the potential for a much worse outcome. Given the 4% actual economic decline for 2009 and the £175 billion deficit now projected, our pessimism was not misplaced.
We have believed and have reported for some years that the UK economy was badly imbalanced. Whilst we have been bearish on the economy, we have been bullish on the prospects for corporate governance. However, we should admit that given the unprecedented decline in the UK and world economy during 2009, we are surprised how sustainable employment in corporate governance has proven to be.
Unfortunately information security has been harder hit. As a discipline it is highly dependent on IT spending which is invariably cut in times of economic uncertainly. Deferring the upgrade of existing, or the development of new, IT systems is probably one of the most common responses companies make to any actual or potential downturn in business. Whilst such decisions do raise potential security and control issues, the work of many information security departments has a substantial element of development work. Not surprisingly, when development work is postponed, the need for information security staff reduces. However, whilst some projects are lost, the majority will have simply been deferred. Therefore, once the business cycle turns, companies if they wish to remain competitive, will invest. The demand for information security staff, as it has done before, will quickly respond.
For those who have been made redundant finding employment has been a disquieting experience. However, in spite of the failure of corporate governance in the banking sector, which cannot be attributed to a lack of resource, corporate governance is emerging from the recession as an essential corporate discipline.
For information security practitioners and those in other areas of corporate governance, that is something for which we should all be grateful. |
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