BS Cyber Mid-year v3 - Flipbook - Page 3
BARCLAYSIMPSON.COM
3
Market
Overview
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135
201
170
187
146
167
150
145
170
130
2022 | Q1
2022 | Q2
2022 | Q3
2022 | Q4
2023 | Q1
2023 | Q2
2023 | Q3
2023 | Q4
2024 | Q1
2024 | Q2
We are also seeing an abundance of skilled
talent eager to make a change, and many
employers are champing at the bit to fill
much – needed skills gaps in their cyber
security and data privacy teams once
budgetary restraints are loosened.
2021 | Q4
Any hopes of a sustained revival were
sadly dashed once the General Election
was called, with many organisations
understandably reluctant to hire until the
dust had settled and the political landscape
became clearer.
Overall, however, hiring is poised to rebound
strongly in the coming months. With inflation
easing, recent interest rate cuts, and the
possibility of less political upheaval after the
election, there are several reasons to be
optimistic.
142
Indeed, a brief uptick in recruitment activity
occurred in the first quarter of 2024, and this
was expected to continue into the second
quarter when the ONS revealed in May
that the UK had quickly bounced back from
recession at the end of last year.
150
2021 | Q3
This means the Bill must now either be
re – presented by the Labour government,
or a new piece of legislation will need to
be drawn up. While unlikely, the Bill could
also be abandoned. Any hiring plans based
around the introduction of DPDI have
therefore been shelved until a later date.
114
Nevertheless, there is currently significant
pent – up demand among both employers
and candidates, which we expect to
materialise later this year once the business
climate stabilises and confidence returns.
200
2021 | Q2
The dissolution of Parliament due to the
election also halted the progress of any
proposed legislation that was on the
parliamentary agenda, including the Data
Protection and Data Information (DPDI) Bill.
136
The cyber security and data privacy
recruitment market continues to be subdued,
with an uncertain economic and political
environment dampening hiring intentions
across many of the disciplines that we cover.
2021 | Q1
CYBER SECURITY & DATA PRIVACY | RECRUITMENT MARKET UPDATE 2024
Cyber Security Activity Index
100
Source: Barclay Simpson - in-house recruitment activity data
indicating the pace of the market.
