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This webinar and the engagement tools will be recorded.

An archive will be available on the event website. 
Cybersecurity Workforce 

Outlook for 2024 - Impact of 

Changing Demographics

January 17, 2024
Carolyn Balkin

ManpowerGroup

Will Markow

Lightcast
We can’t keep 

cybersecurity workers!

Lightcast and CyberSeek

Decipher the Cybersecurity Workforce
What

Demographic Headwinds

Are We Facing?
Source: BLS

7 Million

Job Openings

Pre-Covid

~9 Million

Job Openings

Now

Employer Demand is 

Strong

Current Labor Crisis Most Demanded Occupations

Demand for Emerging Fields

Cybersecurity...............

Artificial Intelligence.......

Green Jobs..................

482,955

190,549

572,982

565,020

609,385

655,305

678,475

721,828

727,636

748,535

780,883

1,119,278

2,165,679

Warehouse Worker

Physician

Truck Driver

Administrative Assistant

Sales Representative

Software Developer

Customer Service Rep

Retail Manager

Retail Sales Associate

Registered Nurse
Source: BLS, CPS

Current Labor Crisis

0

2

4

6

8

10

12

14

16

1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Unemployment Rate

The Unemployment Rate is 

Historically Low
Fewer Workers Are 

Looking For Work

Source: BLS, CPS

Current Labor Crisis

Labor Force Participation Rate
Current Labor Crisis

Of all people who are out of the labor force, 

nearly 60% say they are retired

I am retired 57.5%

I am/was sick or disabled 18.7%

I am/was caring for children not in school or daycare* 7.2%

I did not want to be employed at this time 6.0%

I am/was laid off or furloughed 4.1%

I am/was caring for an elderly person 2.7%

My employer closed/went out of business 2.0%

I do/did not have transportation to work 1.8%

Reason out of labor force % of those who gave a reason

* Largest group only has a high school diploma. SOURCE: Census Pulse Survey, Sept 2023, Table 3
US population growth 

by decade

1790 to 2020 (estimated) censuses 

The Future Labor Crisis

Great Depression hangover

Population Growth is 

Historically Low
We’re living below the

2.1 birth replacement rate

We can’t employ what we don’t have

The Future Labor Crisis
Declining college enrollments

Increasing death rates

What Other Demographic 

Challenges Do We Face?
What is

Unique About the Cyber 

Workforce?
Over

570,000 cyber job openings

in the U.S. in the past 12 months

Nearly 1.2 million

existing cybersecurity workers in the 

U.S.

Despite Economic 

Uncertainty, 

Cybersecurity Job 

Demand Remains 

Strong
Cybersecurity Supply 

Can’t Keep Up with Demand

National Cybersecurity Worker 

Supply and Demand Ratio

Cybersecurity jobs take

21% longer to fill

than other IT jobs

Cybersecurity jobs pay

10% higher salaries

than other IT jobs

High 

Supply

Low 

Supply
The Cybersecurity 

Career Ladder is

Missing A 

Rung

>

Employers request heightened 

education and experience levels, 

preventing new workers from 

entering the field
Talent Gap

from rapid growth and skill evolution Expectations Gap

from inflated requirements
Q&A
Data Classification Level

Cybersecurity & IT 

Workforce Trends

January 2024

Carolyn Balkin

Vice President & Global IT Vertical Leader, ManpowerGroup 
20

Brief ManpowerGroup Introduction

$20 Billion

Global Workforce 

Solutions Brand

75

Countries

2,200

Branch Offices

30,000

Employees

400,000

Clients

500,000+

Workers on Assignment 

Every Day

1 Million+

Connected to Meaningful 

Work Each Year
21

U.S. employers still struggling with talent scarcity

40%

32%

46% 46%

69%

32%

74% 75% Percentage of Organizations 

Struggling to Find Skilled 70%

Talent (2014 – 2024)

2014 2015 2016 2018 2019 2021 2022 2023 2024

Note: The annual Talent Shortage Survey was not conducted in 2017 and 2020.

ManpowerGroup U.S. Talent Shortage Survey Q1 2024 (n=6,300)
22

U.S. hiring outlook 

remains strong in Q1

Used internationally as a bellwether 

of labor market trends, the Net 

Employment Outlook – calculated by 

subtracting the percentage of 

employers who anticipate reductions 

to staffing levels from those who 

plan to hire – now stands at +35% 

in the United States.

U.S. Net

Employment

Outlook

35%

of employers anticipate 

an increase in hiring

report no change

anticipate a decrease

are unsure

47%

36%

12%

5%

ManpowerGroup U.S. Employment Outlook Survey, Q1 2024 (n=6,300)
23

U.S. net employment outlook changes over time

ManpowerGroup U.S. Employment Outlook Survey, Q1 2024 (n=6,300)
24

IT remains the #1 sector for U.S. hiring demand

Businesses in the IT industry reported the brightest outlook for the fifth consecutive quarter but 

weakening by -1% compared with Q4 2023.

43%

38% 35% 34% 31% 30% 25% 22%

Industrials and 

Materials

*Government or Public Service; Not for Profit/NGO/Charity/Religious organization; Other Industry; Other Transport, Logistics & Automobiles Sub-Industry; Educational Institutions; Agriculture & Fishing

Information 

Technology

Financials and

Real Estate

Communication

Services

Health Care 

and Life 

Sciences

Energy and 

Utilities

Transport, 

Logistics and

Automotive

Consumer 

Goods and 

Services

Other* / None 

of the Above

55%

ManpowerGroup U.S. Employment Outlook Survey, Q1 2024 (n=6,300)
25

1

2

3

4

5

IT & Data

Sales/Marketing

Operations & Logistics

Engineering

Front Office/Customer-facing

Top 5 skills U.S. employers report most difficulty finding

ManpowerGroup U.S. Employment Outlook Survey, Q1 2024 (n=6,300)
26

Scarcity will require changes to the way we find tech talent

Data Science Candidate Search Example

TOTAL

WITH THREE YEARS 

OF EXPERIENCE

THREE YEARS + 

PYTHON

THREE YEARS, 

PYTHON + SQL

THREE YEARS, PYTHON,

SQL + CLOUD COMPUTING

THREE YEARS, 

PYTHON, SQL, CLOUD 

COMPUTING + ML

139,992

78,352

48,716

27,329

4,004

3,078

OF THE CANDIDATE POOL IS 

ELIMINATED WITH JUST FOUR 

TECHNICAL REQUIREMENTS AND 

THREE YEARS OF EXPERIENCE*

98%

Gartner research
27

The real global talent shortage is just beginning

3.2

MILLION

90

PERCENT

$162

BILLION

U.S. workers retired in 2020, and an 

average of 10,000+ will retire each 

day until 20291

Of organizations globally will face digital 

talent shortages by 20252 

Estimated annual economic impact 

to the U.S. tech industry due to talent 

shortages by 20303

1. Pew research

2. IDC analysis

3. Korn Ferry research, proportional impact expected across industries and in other developed markets
28

Cybersecurity was the #1 global IT hiring priority in 2023

34%

32%

31%

27%

25%

25%

24%

20%

20%

18%

15%

Cybersecurity

Technical support

Customer or user experience

Database management

Customer relationship management systems

Application development

Workplace process automation

Workforce applications and analytics

Cloud and cloud computing

AI and machine learning

Reporting and visualizations

Q1 2023 ManpowerGroup Global Employment Outlook Survey (n=38,951) 
29

Cybersecurity also #1 globally for staffing and upskilling

33%

32%

27%

27%

24%

24%

24%

22%

22%

21%

17%

Cybersecurity

Technical support

Customer or user experience

Database management

Application development

Workplace process automation

Customer relationship management systems

Cloud and cloud computing

AI and machine learning

Workforce applications and analytics

Reporting and visualizations

When you think of your staffing priorities for the next 12 months, how 

would you prioritize the following IT areas? 

When you think about closing IT skills gaps, where does your 

organization see the greatest need for training?

34%

32%

31%

27%

25%

25%

24%

20%

20%

18%

15%

Cybersecurity

Technical support

Customer or user experience

Database management

Customer relationship...

Application development

Workplace process automation

Workforce applications and analytics

Cloud and cloud computing

AI and machine learning

Reporting and visualizations

Q1 2023 ManpowerGroup Employment Outlook Survey (n=38,951) 
30

Employers can’t close IT skills gaps alone

27%

25%

23%

22%

21%

20%

19%

18%

18%

17%

16%

6%

Lack of budget

Employees are too busy

Lack of time - skills outdated too fast

Challenges in understanding what future skills are needed

Lack of necessary tools and equipment for training

Lack of internal planning

Lack of existing capability

Challenges in mapping out skill gaps in the organization

Lack of relevant programs in the marketplace

Employees do not have the ability

Employees are not interested

We have no challenges with these programs

Lack of time and 

money are the main 

challenges to 

upskilling programs...

... rather than lack of 

ability or interest

What are your greatest challenges with your reskilling / upskilling programs?

Q1 2023 ManpowerGroup Employment Outlook Survey (n=38,951) 
Q&A
How Do We

Solve These Workforce 

Challenges?
Shift Hiring and Training Focus to Skills – NOT Credentials

The Old Approach:

Hire and Train 

for Degrees and 

Certifications

The New Approach:

Hire and Train for 

Skills
Right-Size Job Requirements

Focus on Need-To-Haves Versus Nice-To-Haves

Removing a BA requirement

Saves $16,000 and grows 

entry-level candidate pool by 61% 

Eliminating specific certification requirements

Drops average salary costs by 

$9,000

Building, not buying, emerging cybersecurity 

skills

Saves $10,000+ for each 

emerging skill 

Sample Cybersecurity Job Requirements
Unlock the Power of Pathways

Build Diverse Talent Pipelines with Skill-Based Career Pathways

>

Building career pathways between 

skill-adjacent roles helps you:

 Expand your talent pipeline for 

emerging skills

 Increase retention and employee 

engagement

 Reduce onboarding time

 Access more diverse pools of 

workers
Hire Missionaries, 

Not Mercenaries

The turnover rate for cyber analysts with at least a bachelor’s is

64% higher

than for cyber analysts with an associates

Female cyber workers remain with a company

10% longer

than male cyber workers
Contact Information:

37

Lightcast.io

CyberSeek.org

Will Markow

Vice President of Applied Research - Talent

will.markow@lightcast.io

Learn More:
38

An integrated approach is needed

Build: Invest in learning and development to grow your tech

talent pipeline

Borrow: Cultivate tech talent outside of the organization, 

including part-time, freelance, contract and temporary 

workers to complement existing and emerging skills

Buy: Pursue external market to find tech talent with the right 

skillsets when timeframes prevent upskilling in-house talent

Bridge: Connect people to work and training opportunities 

by allowing them to move on or move up by taking on new 

tech roles and/or acquiring new technical/soft skills
39

Case Study: Building the skilled technical talent you need

8. Information

ionSpe

S

• Accelerated training programs (< 3 months)

• Industry-recognized curriculums & certifications

• More than 230,000+ graduates 

Key U.S. Partners
Workforce 

Consulting & 

Analytics

Workforce 

Management

Talent 

Resourcing

Career 

Management

Career 

Transition

Top Talent 

Attraction

Visit www.manpowergroupusa.com/meos to learn more.

Thank You | Q&A
Panel Discussion
NICE Webinar Series

Expanding Cybersecurity Learning and Workforce 

Opportunities for Rural Americans

February 21, 2024, 2:00-3:00PM EST

nist.gov/nice/webinars 42