There's still a continuing talent shortage, so finding and retaining people is very challenging. Anecdotally, the biggest factor in retention ends up being opportunities for growth. If there's no way forward, people feel they are stagnating, especially after two to four years. It's a very special job that has levels of stress that exceed other roles.
Overall security spending is still up 8 percent in 2024, although nowhere near the heady days of 2021 and 2022. This slowdown can largely be attributed to some sectors, notably manufacturing, having played catch-up on their security spending and are now up to speed.
Security spending as a proportion of the overall IT budget is on the rise, up from 8.6 percent in 2020 to 13.2 percent this year. Kakolowski opined that this trend looks set to continue, but security spending was typically less than 1 percent of the revenue of those quizzed.
The C-suite execs are finally recognizing the need for security spending, partly due to last year's SEC rule changes on reporting security incidents and concerns over corporate liability to lawsuits.
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