Hiring Cybersecurity Professionals During a Labor Shortage

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There are now 4.7 million people working in the global cybersecurity industry — that's more cybersecurity professionals than ever before. However, the sector still needs more than 3.4 million workers to fill an increasing number of job roles. This shortage makes it difficult for HR managers to recruit the staff needed to protect their company's systems, networks, and other IT infrastructure. In this article, learn the reasons behind the current drought of cybersecurity experts and how to recruit individuals with expertise for your organization.

Why is There a Shortage of Cybersecurity Professionals?

There are a range of reasons for the current cybersecurity worker shortage, including a growing lack of interest in IT among young people, a lack of skills to handle the latest cyber threats, and burnout among cybersecurity professionals.

Young People are Choosing Other Careers

In the past, cybersecurity was a popular career path among college students. However, there's currently a lack of interest in this role from young people entering the job market.

Perhaps that's because other technology positions offer higher salaries than cybersecurity jobs. The average income for a cybersecurity analyst in the United States is $96,955 a year. While this salary is well above the national average, a data scientist can earn considerably more, with the average income for this job amounting to $137,212 a year. Other higher-paid positions like data engineering and AI engineering might mean fewer young people want to enter the cybersecurity field.

A lack of skills to manage the latest threats

Hackers are getting smarter, with new types of cybersecurity threats emerging all the time. As a result, cybersecurity experts should continuously learn skills and find ways to protect their organizations from dangers. However, many cybersecurity professionals lack the talent to manage the newest threats, making them less desirable than their more experienced peers. That increases the demand for the most qualified cybersecurity workers, especially when there aren't enough of these individuals on the market.

Burnout Research shows that 84% of cybersecurity workers in North America experience burnout. Several factors increase stress levels for these professionals, including working long hours, a lack of resources, and the pressure to come up with critical IT solutions for companies. Burnout can be detrimental to the industry and cause individuals to leave their cybersecurity jobs. That increases the number of available positions for experts on the market.

How to Find Cybersecurity Professionals

It's harder than ever to source the right cybersecurity experts for your company. Follow the tips below to increase your chances of securing top talent:

Post opportunities on cybersecurity job websites Job boards like CybersecurityJobs.com and Infosec-Jobs.com let you connect with cybersecurity experts, helping you find the right person to fill your open position. You can view resumes from individuals and message them directly on these platforms, improving your talent search. Alternatively, you can post a vacancy on social media and find the best professional for your team.

Consider professionals in remote locations

If most of your infrastructure is in the cloud hiring a professional from a remote destination makes sense. In the global economy, you can work with cybersecurity specialists based in any location in the world and achieve the same outcomes as keeping an expert in-house. For example, finding a qualified individual in a country with a cheaper standard of living could mean they ask for a lower salary, saving you money.

Work with an employment agency

The best employment agencies remove the work associated with filing a cybersecurity role in your organization. These agencies have links with the best experts on the market and can attract them to your company with advanced recruitment strategies, such as showcasing the benefits of working for your team.

Hire Cybersecurity Experts Now

Despite the current labor shortage, there's no reason why you can't find the cybersecurity professional you need. Post your vacancy on industry-specific job boards, consider hiring from abroad, and work with a reputable employment agency to optimize your talent search.

MRINetwork is a leader in cybersecurity recruitment, helping you find the best talent to protect your organization from threats. Follow The Trevi Group to learn more about hiring, cybersecurity, and other topics.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

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The Future of Hiring, Challenges of HR Directors in Cyber Security: DevSecOps Integration

The human resource department in any organization plays a critical role in cyber security. HR is privy to some of the most sensitive information. This department holds a company’s banking details, the list of employees, their birth dates, and social security numbers. Hackers and other cyber criminals crave this kind of information, necessitating HR directors to devise ways to keep data safe.

One of the most practical ways HR could improve an organization’s cyber security is in the hiring process. As an HR head, you must ensure you’re not hiring someone with a dubious record. However, you should conduct the hiring process above aboard; otherwise, you risk getting accused of discriminatory practices. In this blog, we’ll discuss the hiring challenges that HR directors face in DevSecOps integration.

Importance of DevSecOps in Cyber Security

The first practical step to secure an organization’s cyberspace is during software development. Usually, the end product is secure and efficient when the software development lifecycle (SDLC) is appropriately structured. Many companies today employ DevSecOps in software development to achieve these critical objectives.

DevSecOps refers to integrating security testing into the entire software development process. The acronym stands for Development, Security, and Operations. DevSecOps is an advancement of DevOps, the software development method that preceded it.

When companies use DevOps for software development, they implement security at the end of the process. While it made sense to isolate security from development and operations in the past, the rise in cloud computing has made it more feasible to integrate the three processes.

Using DevSecOps in the SDLC process has distinct advantages. The integration enables organizations to:

• Save time as the organization undertakes the entire process through short cycles

• Minimize disruptions that are common with DevOps

• Identify security threats early

• Respond quickly to identified threats.

While DevSecOps is the ideal software development strategy, companies need to catch up in adopting it. Most organizations globally intend to implement DevSecOps, but by 2021 only 30% of surveyed companies had implemented it.

However, the slow implementation does not cast doubts about DevSecOps’ popularity. While the DevSecOps market value was $3.73 billion in 2021, market surveys projected it to increase to over $40 billion by 2030. So, what factors have contributed to the slow implementation of a system that has attained such global popularity? What challenges will you likely encounter as an HR director in DevSecOps integration?

Challenges That Affect DevSecOps Implementation

DevSecOps implementation is prone to a host of challenges, including:

Change Resistance

In every organization, you’ll find plenty of people who are defenders of the status quo. Since this is a relatively new software development method, HR directors might have difficulty getting different departments to cooperate. Some departments might perceive this collaborative effort as a compromise to their autonomy. Consequently, resistance to change could hinder successful implementation.

Limited Resources and Staff Knowledge Gap

Implementing DevSecOps is costly, and many organizations need more resources for implementation. While a substantial portion of the implementation cost will be staff education, many organizations have limited training budgets.

Since implementation requires cooperation by employees from different departments, the knowledge gap between staff members from other departments could pose a significant problem. While the developers could possess excellent coding skills, they might lack other critical security skills, such as development skills. Therefore, training different expert teams to get on the same page is costly and time-consuming.

Cloud Infrastructure Complexity

Many large organizations have hundreds of cloud accounts. The different accounts could be using a vast range of cloud services. Frequent changes in the cloud could prove disruptive to the company’s business as it might have to try very hard to keep up.

Getting the Right Staff for Your DevSecOps Project

Staff quality is critical in the success or failure of an organization’s DevSecOps project. As an HR director, you must get the best available workforce. If you’re using current employees for the project, ensure they get adequate training. To help your organization overcome DevSecOps integration challenges, contact the professionals at The Trevi Group.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

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Building a Resilient Incident Response Plan for Corporate Security

(Adi Goldstein/Unsplash)

Corporate security is a top priority when it comes to safeguarding the data systems and communications of your organization. Threat actors continue to develop sophisticated cyber attacks that compromise some of the most well-established cybersecurity infrastructures, with industry studies revealing that over six million data records were exposed to data breaches in the first quarter of 2023 alone.

A resilient incident response plan enables your company to react effectively against the evolving tactics of malicious parties aimed at evading security controls. But how do you build one?

Defining Roles and Responsibilities in Incidence Response

Incidents require swift responses. One crucial aspect of ensuring this lies in clearly defining the roles and responsibilities of your incident response team. A well-established set of duties enables teams to focus on their respective roles efficiently in high-pressure environments.

While resilient incident response teams may comprise different structures, they typically include the following contributors:

• Incident Response Team Leader/Manager: The head of the incident response team with the overall responsibility to oversee the decision-making during a crisis. Leaders ensure that teams follow the outline of a response plan in coordinated efforts to resolve and mitigate ongoing issues.

• Responders: The team members responsible for handling the operational and technical duties in mitigating the identified issues.

• Communications Lead/Manager: These team members offer the skills and expertise to handle every aspect of incident response communications. They ensure smooth communication among internal and external stakeholders and strategically release information to the public.

• Scribe: The team member responsible for logging the comprehensive details of an incident for documentation and investigative purposes.

• Customer Support Lead: Team members tasked with communicating with the public and providing the assurance of ongoing efforts in fixing the issue.

• Social Media Lead: These contributors manage the social media channel updates during incident responses, working closely with customer support leads in collecting timely customer feedback and responding strategically.

• Forensic Analyst/ Problem Manager: Experts who examine the root cause of the incident and brainstorm for strategic measures to prevent reoccurrence.

Establishing Communication Channels and Escalation Procedures

The next step of a resilient incident response plan involves a clear breakdown of communication procedures and informing each involved role about the expected escalation steps and response times. A robust escalation process should begin with a formal activation procedure for your incident response team. Consider implementing an alerting mechanism that triggers alerts across multiple communication systems to mobilize response teams during a detected incident.

Communication is Key

Your team’s communication manager should rapidly notify the public to prevent any speculation among external stakeholders. External parties may form foregone conclusions with the lack of data which could compromise your corporate image. As such, it is important to present clear and concise information when presenting the issue to the public. Managers should work closely with technical teams for accurate details and apply strategic language (written and verbal) in managing public concerns.

Your team should consider implementing a pre-approved communication template to expedite responses during a time-sensitive situation. These templates should outline the general communication details (i.e., quality, channels, response times, and frequency) for an incident response while teams can quickly customize fields based on incident specifics.

Conducting Regular Tabletop Exercises to Test the Effectiveness of the Plan

It is important for your incident response team to constantly test and improve the effectiveness of your plans. Tabletop exercises enact the environment, threats, and considerations in a simulated incident for accurate response.

Regular tabletop exercises help you identify the response times of individual members and identify weaknesses, mistakes, and areas for improvement that could undermine an actual operation. Your team should also monitor critical incident response metrics to accurately measure the effectiveness of team collaboration. These metrics may include the speed of identifying and responding to the root cause of an incident, the time taken for leaders to reach a specific decision (such as broadcasting information across social media channels), and the quality of documentation.

Documenting Lessons Learned and Continuously Improving The Plan

Your response team should make a detailed and reliable record of each outlined issue in your tabletop exercises and take proactive measures to prevent them. For example, in a simulated scenario of regulatory and compliance breaches, your team could improve the response times in the reporting and remediation of legal requirements. Similar to a routine fire drill, repeating these exercises minimizes the risk of missteps that might disrupt or delay your crisis response.

It is crucial to conduct a post-incident meeting with every involved party to discuss the lessons learned and follow-up action to avoid future incidents. These meetings apply to tabletop exercises and actual incidents. Every participant should contribute by highlighting the key learning points and assessing practical methods for strengthening existing security systems.

Coordinating with External Stakeholders

Finally, your incident response team should discuss and decide if there is a need to involve law enforcement. The decision depends on the severity of the situation, and if the issue can be resolved by internal investigative teams. Your incident response plan should assign the person or parties with the authority to notify law enforcement and the criteria for doing so. Teams should also consider working closely with a trusted external legal advisor to decide the best course of action.

An experienced counsel can assess the situation from a legal perspective to justify the cost, efforts, and potential complications involved in pursuing law enforcement. It is important

to note that law enforcement could increase public attention toward the incident, which would require strategic stakeholder communications.

Closing Thoughts - Optimizing Corporate Preparedness With Incident Response Plans

Ultimately, it is important to recognize cybersecurity issues as more than a technical issue but one that undermines an organization as a whole. Preparing your corporate team for the unexpected ensures the swiftest and most coordinated responses in the worst-case cybersecurity scenarios. By doing so, your company can stay resilient and productive in a digital landscape of constant cyber concerns.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

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Mitigating DDoS Attacks Through Protocol Protection

Distributed Denial of Service (DDoS) attacks occur when traffic to a network is disrupted. These attacks have evolved and grown in sophistication in recent years.

Understanding the role of network protocols and leveraging protocol-specific security features are crucial elements of implementing an effective cyber security plan. It’s also necessary to ensure you’re hiring the right individuals for each security role in your organization.

The Role of Protocols in Mitigating DDoS Attacks

Protocols are the backbone of a network system that safely facilitates communication and the data transfers between devices. 

For example, the Transport Layer Security (TLS) ensures communications remain secure and unaltered. Secure shell (SSH) provides secure file transfers and remote login across unsecured networks. Secure HyperText Transfer Protocol (SHTTP) includes several security measures such as establishing firewalls and creating strong passwords.

Correctly setting up these network protocols ensures that all devices are as secure as possible from cyber attacks, including DDoS attacks.  This means an organization must have employees who understand how network protocols operate together to reduce and eliminate DDoS attacks. You’ll therefore want to create a hiring strategy to ensure you always have the best employees managing your cyber security strategies. 

Techniques for Detecting and Blocking Malicious Traffic

The following are general steps to take when implementing network protocols for detecting and blocking unwanted traffic.

• Recognize Unusual Traffic Patterns: This includes anomaly detection and heuristic analysis to identify abnormal traffic patterns. Machine learning algorithms are more advanced methods of detecting malicious traffic.

•  Include IP Address Blocking and Black Hole Routing: IP address blocking is particularly effective against brute force attacks. Black hole routing is a method of discarding traffic without processing it.

• Train Top Employees: Hiring the best IT professionals and maintaining training in the latest cyber security and network analysis methods is crucial. You may consider contract staffing and interim placements when hiring top talent to fill cyber security positions.

Implementing Rate-Limiting Controls at the Protocol Level

Developing and implementing rate-limiting controls is something only an experienced cyber security professional should handle because of the complexities involved. This starts with knowing which of the following rate-limiting systems to use.

• Server Rate-Limiting: This includes limiting the requests made to an individual server within a particular time frame. This method helps reserve resources.

• IP Rate-Limiting: This type limits the amount of requests within a certain time frame. It specifically blocks requests from individual IP addresses.

• Geography Rate-Limiting: This method limits requests from regions or specific areas. This can help you remain legally compliant within certain areas.

There are several algorithm types a cyber security specialist can use when implementing rate-limiting.

• Leaky Bucket Algorithm: Excess requests leak out when the bucket is full. Overflowing requests are rejected or delayed.

• Token Bucket Algorithm: Tokens in a bucket are removed as requests are made.  Requests are rejected or delayed when tokens are all used.

• Fixed Window Algorithm: This involves a counting algorithm that blocks requests within a fixed timeframe after reaching a certain amount.

Leveraging Protocol-Specific Security Features

You’ll need to determine what security features you’ll use and where they’ll fit into your overall network protocols protection plan. The following are several specific cyber security features you may want to use. 

• Encryption Algorithms: These programs convert unencrypted text or data into encrypted. The most basic encryption protocols include TLS/SSL, IPsec, and Secure Shell.

• Access Controls: Access controls validate each user’s identity. Access control protocol examples include Attribute Based Access Control (ABAC), Discretionary Access Control (DAC), and Mandatory Access Control (MAC).

• Network Protocol Tools: This includes customizing a Web Application Firewall (WAF) and installing, maintaining, and updating mitigation software. 

• Key Management: Secure key exchange ensures only intended receivers decrypt communication.

• VPN Installation: Using a Virtual Private Network enables employees to access a network safely outside of your facility.

Collaborative Defense Strategies for Combating DDoS Attacks

There are several ways collaborative efforts can reduce or eliminate DDoS attacks. The following are a few examples.

Following Government Regulations: Knowing and adhering to all federal and local regulations will help keep your systems as safe as possible.

Working With Law Enforcement: Both the FBI and Homeland Security provide helpful information and resources for combating DDoS attacks.

Working With Security Vendors: Organizations should work closely with companies and individuals who can offer the best cyber security strategies to combat DDoS attacks. This includes finding an experienced recruitment firm to fill all your cyber security staffing needs.

Contact The Trevi Group

You need expert leaders in the cyber security field to ensure your information systems and network protocols are as secure as possible. The Trevi Group can partner with your company in the recruitment process. We have over 16 years of experience and over 200 firms in dozens of countries. Contact us today for more information.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

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BLS Employment Situation Report -- published September 6, 2024

Today’s Bureau of Labor Statistics Employment Situation Summary (BLS) data has been eagerly anticipated by an unusually broad spectrum of audiences. Politicians are ready to interpret results to favor their candidate in the November presidential elections. The report on hiring and employment in August will be pivotal in shaping any Federal Reserve Bank interest rate adjustment later this month, and business leaders will be looking for clues on the overall trajectory of the economy as they make forward-looking investment decisions. The BLS report had a little something for everyone with what might be characterized as a “steady as she goes” report.

The BLS reported total nonfarm payroll employment increased by 142,000 in August, slightly below analysts’ expectations, while the unemployment rate changed little, easing back to 4.2 percent. Employment growth in August was in line with average job growth in recent months but was below the average monthly gain of 202,000 over the prior 12 months. While the August numbers were close to expectations, the previous two months saw substantial downward revisions. The BLS cut July’s total by 25,000, while June featured a downward revision of 61,000.

“As politicians and economic analysts pour over today’s jobs report to understand current job creation and unemployment trends, it might be useful to look below the surface data at critical factors reshaping today’s white collar employment landscape. Our MRINetwork of over 1000 talent consultants see both clients and candidates continuing to wrestle with one of the most contentious factors in U.S. workplace transformation, work-from-home versus full time return to the office,” noted Rick Hermanns, president and chief executive officer of HireQuest Inc., parent company of MRINetwork.

“Many of our clients point to internal studies that show a mixed bag of benefits and challenges generated by remote work as they search for the right balance of productivity growth, and employee retention and satisfaction levels. And many top performers that our consultants guide in their career development journey are often conflicted by the seeming trade-off of career advancement versus lifestyle advantages in a work-from-home environment.

Pew Research indicates that today over 42 percent of workers are working exclusively from home or are in a hybrid environment. While down from a Covid lockdown high of 71 percent, it's apparent that a shift to remote work is not a temporary emergency measure. It’s a fact that the 64 percent of the 1,300 CEOs surveyed by KPMG who expect all workers will be back in office by 2026 will need to deal with. Don’t expect any one-size-fits-all resolution in the short term. As a top individual performer or as an innovative corporate organization, be prepared to adjust as the marketplace searches for the optimal workplace model.”

Wall Street Journal reporter David Uberti summarized the clarity the market was looking for in today’s numbers, “A month ago, the weaker-than-expected July hiring report rekindled fears of a slowdown. New claims for unemployment are elevated. Job openings have slipped. Wage gains are slowing. The streak of cool economic data startled Wall Street in early August and contributed to a global selloff that briefly thrust the record-breaking U.S. stock market into one of its most volatile periods in years.

The big question in recent weeks has been whether the summer jolt was momentary—perhaps a result of Hurricane Beryl curbing hiring—or evidence of a broader deceleration of the economy. Analysts are looking to Friday’s jobs report for clues.“

Reuters Lucia Mutikani’s analysis provided context to the seasonality factors associated with the August data, “U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown continued and probably did not warrant a big interest rate cut from the Federal Reserve this month. The smaller-than-expected increase in payrolls likely does not signal a deterioration in labor market conditions. August payrolls have a tendency to initially print weaker relative to the consensus estimate and recent trend before being revised higher later. Hiring typically picks up in the education sector, which is anticipated by the model that the government uses to strip out seasonal fluctuations from the data.”

Key industries reported the following trends in August:

Construction employment rose by 34,000 in August, higher than the average monthly gain of 19,000 over the prior 12 months. Heavy and civil engineering construction added 14,000 jobs, and employment in nonresidential specialty trade contractors continued to trend up (+14,000).

Healthcare added 31,000 jobs in August, about half the average monthly gain of 60,000 over the prior 12 months.

Employment in manufacturing edged down in August (-24,000), reflecting a decline of 25,000 in durable goods industries. Manufacturing employment has shown little net change over the year.

Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and warehousing; information; financial activities; professional and business services; leisure and hospitality; other services; and government.

"Work-from-home policies will continue to evolve as companies search for the right balance to increase productivity while bolstering overall employee retention.

Within this changing landscape however, our Network's top talent advisors counsel aspiring high performers to focus not just on short-term benefits from remote work arrangements but on driving their career advancement and generating business growth for their organizations in a challenging new role," noted Hermanns.

If you are interested in reading the HireQuest Inc. white paper entitled, Navigating Remote and Hybrid Work: Impacts on U.S. Companies and the Economy, share your information here to receive it in your inbox on release day in the coming weeks.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

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What You Need to Know About AI Washing

A new term has emerged, capturing the attention of industry insiders and regulators alike: AI washing. This term has been coined to describe the misleading practice of overemphasizing AI capabilities in products or services, often resulting in consumers believing that the product uses AI-powered technology. And as investments continue to pour into the AI field, AI washing is becoming a growing concern among stakeholders.

There are several major issues with AI washing that can cause the practice to bring harm to the marketplace. First, it can mislead consumers and investors. You could fall victim to AI washing and find yourself paying for or investing in services that are highly overvalued due to buzzwords and misleading statements. Another issue is that AI washing can harm public trust, resulting in the overshadowing of genuine AI advancements. Finally, it can create a cluttered marketplace where true innovation struggles to stand out against the tide of false claims.

Vetting businesses that claim to use AI can be time-consuming. But simple things, such as doing a LinkedIn search, can help you uncover valuable insights into an organization’s profile. Look at the level of AI experience and education that the vendors’ employees have. Companies that are developing AI solutions should have the right talent on board, meaning they have data scientists and engineers with experience in AI, machine learning and algorithm development.

Companies that truly integrate AI into their products need a well thought out data strategy because AI algorithms need it. AI systems are fueled by very large amounts of data, and the more relevant that data is, the better the results will be. They should be able to explain how much data is being collected and from what sources.

When comparing products and services, it’s essential to evaluate them with an open mind, looking at their attributes thoroughly. Study the value proposition and features and only start cooperation when you understand the program’s benefits beyond AI.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

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Data Security Compliance

All industries must follow established standards and legal regulations for the appropriate handling and storage of data. The data security compliance regulations that apply depend on where a company is registered and where it conducts business.

What is Data Security Compliance?

Data compliance is the adherence of an organization to the laws and standards governing the security and protection of sensitive data.

Data security compliance is a branch of data compliance that specifically refers to securing and protecting this sensitive data from breach and theft.

Complying with data security measures means companies must document and implement security practices as compliance proof.

Data security and compliance strategies often include:

• Data classification according to its sensitive nature

• Encryption of sensitive data

• Access control implementation

• Data backup creation in the event of loss

• Documentation of all data security compliance measures

• Ongoing audits and updates to continue meeting requirements as needed

Data compliance vs. data security compliance

Sometimes these two terms are used interchangeably. While related, data compliance is all activity related to data handling compliance standards. 

Data security compliance, on the other hand, is a finer-grained subset of data compliance that deals with the specific measures an organization takes to protect sensitive data from illicit access, security breaches, and other cyberthreats through the use of firewalls and other data protection methods.

What Regulations Must Organizations Comply With?

All organizations must comply with the data security compliance regulations of the industry and region in which the company is registered and any areas in which it does business, such as:

• GDPR

• HIPAA

• PCI DSS

Here’s a breakdown of these data security compliance regulations.

General Data Protection Regulation (GDPR)

The European Union enacted GDPR as a sweeping data privacy regulation to protect EU citizens’ personally identifiable information (PII). GDPR’s compliance obligations are strict, mandating transparency among all organizations within Europe — and those doing business with European citizens — regarding how the companies collect data and how it’s used so citizens have more control over PII.

One of the greatest features of the legislation is its stance against businesses that do not comply. Businesses found non-compliant face substantial penalties for failing to meet GDPR’s privacy and data regulation compliance criteria. Fines for non-compliance are as high as 4% of a business’s annual income worldwide or €20 million — whichever amount is higher — causing organizations around the world to rethink data collection practices and data handling measures.

HIPAA

HIPAA, the Health Insurance Portability and Accountability Act, is legislation from the United States. HIPAA became law in 1996 and established rules and procedures for healthcare practices and other businesses that come in contact with a patient’s private medical data or personal health information, known as PHI.

Any entity considered “covered” by a HIPAA category must uphold the legislation’s standards for data security compliance. 

Covered entities include:

• Doctors, nurses, and other healthcare providers

• Agents, customer service representatives, accountants, and other individuals in the employ of insurance providers

Any associates that do business with the above two entity categories and have access to private health information, must also remain in compliance, including (but not limited to):

• Data transmitters

• Medical transcriptionists

• Software providers

PCI DSS

In recent years, theft of credit card information has risen. Somewhat like HIPAA for healthcare, the payments industry introduced PCI DSS, or the Payment Card Industry Data Security Standard, in December 2004. 

PCI DSS sets forth guidelines for protecting consumers’ credit card information. PCI DSS is not legislation by any government — instead, it’s a set of contracts imposed upon any entity engaged in accepting credit card or debit card payments from consumers. The Payment Card Industry Security Standards Council (PCI SSC) enforces these contractual commitments. However, PCI DSS does not apply solely to the business accepting the credit/debit card payment. 

Compliance extends to any entity that comes in contact with credit card information, including entities that:

• Accept data transmissions

• Store card data

• Transmit card data

Even if a business uses a third-party payments company to facilitate credit/debit card payments, the business must still comply with PCI DSS. For example, an eCommerce store that accepts card payments through Stripe is still responsible for the secure acceptance, storage, and transmission of all credit or debit card payment transactions even though Stripe facilitates the payment. 

All businesses accepting card payments can benefit from creating internal credit/debit card transaction policies and processes to meet PCI DSS compliance.

Data Security Compliance Training for Staff

Training employees on data security compliance is essential. But successful training relies on:

• Figuring out which topics your staff requires training in

• Finding the right training program or materials (or even building your own)

• Preparing a doable training schedule

If you build your training program, you’ll likely have upper staff lead individual modules. But if you select a third-party training program, it’s important to know who you’re working with. Vetting your partner vendors is essential because if vendors aren’t compliant with data privacy legislation and regulations, you could be found non-compliant by proxy.

Safeguard Your Data with MRINetwork

If your organization handles any form of sensitive, private data, data security compliance is essential. Your business must create policies and procedures to ensure it meets all applicable requirements, and that employees understand data security compliance measures.

The Trevi Group and MRINetwork has successfully placed over 300 cybersecurity professionals since 2021, many of whom possess transferable skills from other sectors. Our success stresses the importance of a well-planned hiring strategy as cloud security evolves.

Read our blog for more insights into a wide range of industry trends.

Learn more:

• Looking for cybersecurity roles?

• Need to hire a cybersecurity professional?

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

Candidate Training (FREE) - sponsored by The Trevi Group - Next session 10/1/2024

I am excited to announce that The Trevi Group & MRINetwork will providing a free training program for Candidates. This program is designed to help job seekers in their job search process and looking to advance their careers.  

Program Details:

• Five training sessions, each focusing on a critical aspect of job searching

• Open to all candidates, with no cost to attend

• Hosted by our MRINetwork's Learning and Talent Development Team

 Session Schedule (all sessions run from 12 Noon to 12:30 PM ET): 

Resent Sessions:

• Salary Negotiation:  Master the Money Talk - September 3rd @ 12:00 PM ET

• Link to Register:  https://events.teams.microsoft.com/event/1d6f9b24-7bb8-47fc-849e-450673bfd7da@023e37cc-b54b-4c5f-8c8d-8fefc196c7a5

• Resume Advice:  Craft your Best Resume - September 17th @ 12:00 PM ET

• Link to Register:  https://events.teams.microsoft.com/event/a3d73cda-6215-44da-986f-12eb4761296d@023e37cc-b54b-4c5f-8c8d-8fefc196c7a5

• Nail Your Next Interview:  Expert Tips and Strategies - October 1st @ 12:00 PM ET

• Link to Register:  https://events.teams.microsoft.com/event/d74c2898-8d9e-4383-9e22-680801d3987b@023e37cc-b54b-4c5f-8c8d-8fefc196c7a5

• LinkedIn Leverage: Tools to Boost Your Career - October 15th @ 12:00 PM ET

• Link to Register:  https://events.teams.microsoft.com/event/03a3a02d-700c-44cc-9652-636d0605abca@023e37cc-b54b-4c5f-8c8d-8fefc196c7a5

Our Upcoming Sessions:

• Social Media Mastery: Elevate Your Professional Presence Online - October 29th @ 12:00 PM ET

• Link to Register:  https://events.teams.microsoft.com/event/5eb249f6-4de8-43f1-9fb5-286fd70cac56@023e37cc-b54b-4c5f-8c8d-8fefc196c7a5

We encourage you to take advantage of this free program and to attend these valuable sessions. This is an excellent opportunity to sharpen your resume, improve your job search strategy, elevate your online presence, and improve your overall interviewing skills and offer negotiation skills.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #informationtechnology #jobmarket

'SHIFT Report - Trending Topics in the World of Work_ (July 2024)

Our July issue of SHIFT looks at protecting communications in the workplace; the current pace of hiring; what effective leadership looks like today; embracing AI in the world of network engineering; and burnout among workers.

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"Off" and "on" channel communications in the workplace

Protecting communications in the private workplace has always been challenging. Our constitutional privacy protections are geared to protecting U.S. citizens from the government, not from their employers — and state and federal courts have long confirmed that there is little protection for employees, according to Reuters. However, beginning with the internet, and becoming more compelling with the development of messaging platforms and the cloud, legislators and courts agree that there is some expectation of privacy when it comes to personal data in the workplace.

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The pace of hiring

The pace of hiring remains strong for lower-earning Americans, holding steady above its pre-pandemic baseline even as the demand for higher-income workers has waned slightly, according to new data from Vanguard. The hires rate for the bottom third of workers by income (who earn less than $55,000 a year) was 1.5% in March, where it has largely hovered since September 2023, according to a new Vanguard analysis. Vanguard is among the nation’s largest 401(k) plan administrators. Its analysis is based on new enrollments in its 401(k) plans.

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What defines leadership in 2024?

What are some of the behaviors that make a good leader in 2024? Here’s Forbes’ take on answering that question: Emotional intelligence and empathy; Adaptability and resilience; Collaboration and inclusivity; Visionary thinking; and Ethics and responsibility.

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Addressing burnout in the workplace

Burnout in the workplace is not new—but it is worsening. SHRM’s Employee Mental Health in 2024 Research Series, released for Mental Health Awareness Month in May, found that 44 percent of 1,405 surveyed U.S. employees feel burned out at work, 45 percent feel “emotionally drained” from their work, and 51 percent feel “used up” at the end of the workday.

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The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

BLS Employment Summary Report -- published 7/5/2024 for June 2024 results

As the tumultuous political environment builds momentum approaching election day, the focus on the monthly employment data intensifies. Today’s data provides the pundits with fuel for another round of competing analysis. Most labor market watchers from Wall Street to Main Street and in Washington DC were expecting to see a modest uptick in job growth and that is exactly what was delivered. However almost 75 percent of the job gains were in government, healthcare, and social assistance segments.

The 206,000 job gain in today’s data released by the Bureau of Labor Statistics (BLS) monthly payroll report was in-line with economists’ expectations. The BLS also revised down payroll employment data in April by 57,000 and for May by 54,000 jobs. With these revisions, employment in April and May combined is 111,000 lower than previously reported.

The unemployment rate continued to up-tick now at 4.1 percent versus 3.6 percent in June 2023.

“Despite slower GDP growth and high interest rates, the economy continues to create jobs and unemployment remains near record lows. Within this environment, most clients, served by our global Network of over 200 executive recruitment offices, report ongoing challenges finding the top technical, executive, professional and managerial talent they need to drive growth. Many clients are exploring new ways to both retain top performers and to recruit new talent based on a ‘skills-based’ approach to hiring and talent-management,” noted Rick Hermanns, president and chief executive officer of HireQuest Inc., parent company of MRINetwork.

“The Financial Times (FT) recently profiled what organizations are doing to ensure producers have the right skills. What they found was similar to what our recruiters see every day as they work with clients and candidates. Successful organizations will need to master additional skills in dealing with existing employees and in attracting and selecting top new performers. Among the factors FT identified include ensuring teams and new hires receive training in the productive use of AI. FT notes that all JPMorgan Chase new hires will understand how to write the most effective text ‘prompts’ to generate maximum value from AI responses. Second, top firms will invest in ‘up-skilling,’ with investments ranging from payment for university tuition costs to funding industry certifications and offering career coaching. A third effort identified are firms who tackle the ‘paper-ceiling’ of college degrees by finding talented players who acquired skills without a formal college degree.

The Wall Street Journal’s Justin Lahart provided a perspective about this month’s data noting it was not clear “...what the right level of job growth is to keep the labor market in balance. Before the pandemic, economists at Goldman Sachs reckoned that, as a result of slowing population growth and more Americans hitting retirement age, the economy only needed to add 70,000 to 80,000 jobs a month to keep the unemployment rate steady. Now, as a result of the jump in immigration, they say it could be around 200,000, ‘But that is with very little confidence,’ added Goldman’s chief economist, Jan Hatzius.”

Reporters at Fox Business noted that today’s data and the downward adjustment of April and May jobs growth, “...may please the federal Reserve, which is looking for signs inflation is easing. This follows the closely watched ADP report which showed companies added 150,000 jobs last month, missing the 160,000 gain that economists surveyed by Refinitiv predicted and down from the revised 157,000 figure in May. Both data points, closely watched by the Federal Reserve, will influence when policymakers will begin their long-anticipated rate-cutting cycle. Chairman Jerome Powell, speaking earlier this week, reiterated the need for inflation to be lower.”

Government employment expansion continued to lead job growth in the non-farm labor force data reported by the BLS. Government employment rose by 70,000 in June, higher than the average monthly gain of 49,000 over the prior 12 months. Over the month, employment increased in local government, excluding education (+34,000) and in state government (+26,000).

Healthcare added 49,000 jobs in June, lower than the average monthly gain of 64,000 over the prior 12 months and employment in social assistance increased by 34,000 in June versus an average growth of 22,000 over the past 12 months.

Construction added 27,000 jobs in June, slightly higher than the average monthly gain of 20,000 over the prior 12 months.

Employment in professional, scientific, and technical services continued to trend up in June (+24,000).

Retail trade employment changed little in June (-9,000), after trending up earlier in the year. Employment in professional and business services declined slightly in June (-17,000) and has shown little change over the year. Temporary help services employment declined by 49,000 over the month and is down by 515,000 since reaching a peak in March 2022.

Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; leisure and hospitality; and other services.

“Traditionally our recruiters and clients have judged potential talent hires primarily using education and specific work experience criteria along with behavioral and skill attributes that could be quantified. Today, a new skills-based approach looks at not only traditional criteria but looks into a candidate’s interpersonal skills and their ability thrive in tomorrow’s non-linear career paths. Clients need to better understand a new hires potential and their ability to flex in delivering work needed in the future,” noted Hermanns.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

Building a Resilient Incident Response Plan for Corporate Security

Corporate security is a top priority when it comes to safeguarding the data systems and communications of your organization. Threat actors continue to develop sophisticated cyber attacks that compromise some of the most well-established cybersecurity infrastructures, with industry studies revealing that millions of data records are exposed to data breaches each quarter. 

(Adi Goldstein/Unsplash)

A resilient incident response plan enables your company to react effectively against the evolving tactics of malicious parties aimed at evading security controls. But how do you build one?

Defining Roles and Responsibilities in Incidence Response

Incidents require swift responses. One crucial aspect of ensuring this lies in clearly defining the roles and responsibilities of your incident response team. A well-established set of duties enables teams to focus on their respective roles efficiently in high-pressure environments. 

While resilient incident response teams may comprise different structures, they typically include the following contributors:

• Incident Response Team Leader/Manager: The head of the incident response team with the overall responsibility to oversee the decision-making during a crisis. Leaders ensure that teams follow the outline of a response plan in coordinated efforts to resolve and mitigate ongoing issues. 

• Responders: The team members responsible for handling the operational and technical duties in mitigating the identified issues. 

• Communications Lead/Manager: These team members offer the skills and expertise to handle every aspect of incident response communications. They ensure smooth communication among internal and external stakeholders and strategically release information to the public. 

• Scribe: The team member responsible for logging the comprehensive details of an incident for documentation and investigative purposes. 

• Customer Support Lead: Team members tasked with communicating with the public and providing the assurance of ongoing efforts in fixing the issue. 

• Social Media Lead: These contributors manage the social media channel updates during incident responses, working closely with customer support leads in collecting timely customer feedback and responding strategically. 

• Forensic Analyst/ Problem Manager: Experts who examine the root cause of the incident and brainstorm for strategic measures to prevent reoccurrence. 

Establishing Communication Channels and Escalation Procedures

The next step of a resilient incident response plan involves a clear breakdown of communication procedures and informing each involved role about the expected escalation steps and response times. A robust escalation process should begin with a formal activation procedure for your incident response team. Consider implementing an alerting mechanism that triggers alerts across multiple communication systems to mobilize response teams during a detected incident. 

Communication is Key

Your team’s communication manager should rapidly notify the public to prevent any speculation among external stakeholders. External parties may form foregone conclusions with the lack of data which could compromise your corporate image. As such, it is important to present clear and concise information when presenting the issue to the public. Managers should work closely with technical teams for accurate details and apply strategic language (written and verbal) in managing public concerns. 

Your team should consider implementing a pre-approved communication template to expedite responses during a time-sensitive situation. These templates should outline the general communication details (i.e., quality, channels, response times, and frequency) for an incident response while teams can quickly customize fields based on incident specifics.

Conducting Regular Tabletop Exercises to Test the Effectiveness of the Plan

It is important for your incident response team to constantly test and improve the effectiveness of your plans. Tabletop exercises enact the environment, threats, and considerations in a simulated incident for accurate response. 

Regular tabletop exercises help you identify the response times of individual members and identify weaknesses, mistakes, and areas for improvement that could undermine an actual operation. Your team should also monitor critical incident response metrics to accurately measure the effectiveness of team collaboration. These metrics may include the speed of identifying and responding to the root cause of an incident, the time taken for leaders to reach a specific decision (such as broadcasting information across social media channels), and the quality of documentation. 

Documenting Lessons Learned and Continuously Improving The Plan

Your response team should make a detailed and reliable record of each outlined issue in your tabletop exercises and take proactive measures to prevent them. For example, in a simulated scenario of regulatory and compliance breaches, your team could improve the response times in the reporting and remediation of legal requirements. Similar to a routine fire drill, repeating these exercises minimizes the risk of missteps that might disrupt or delay your crisis response. 

It is crucial to conduct a post-incident meeting with every involved party to discuss the lessons learned and follow-up action to avoid future incidents. These meetings apply to tabletop exercises and actual incidents. Every participant should contribute by highlighting the key learning points and assessing practical methods for strengthening existing security systems. 

Coordinating with External Stakeholders

Finally, your incident response team should discuss and decide if there is a need to involve law enforcement. The decision depends on the severity of the situation, and if the issue can be resolved by internal investigative teams. Your incident response plan should assign the person or parties with the authority to notify law enforcement and the criteria for doing so. Teams should also consider working closely with a trusted external legal advisor to decide the best course of action. 

An experienced counsel can assess the situation from a legal perspective to justify the cost, efforts, and potential complications involved in pursuing law enforcement. It is important to note that law enforcement could increase public attention toward the incident, which would require strategic stakeholder communications. 

Closing Thoughts - Optimizing Corporate Preparedness With Incident Response Plans 

Ultimately, it is important to recognize cybersecurity issues as more than a technical issue but one that undermines an organization as a whole. Preparing your corporate team for the unexpected ensures the swiftest and most coordinated responses in the worst-case cybersecurity scenarios. By doing so, your company can stay resilient and productive in a digital landscape of constant cyber concerns. 

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

Embracing AI: The Future of Network Engineering

The AI era is revolutionizing network engineering, and it’s time to jump on this tech wave! As networks become more complex, AI and automation are the game-changers we need. This transformation means network engineers must evolve, too. Learning AI, machine learning, and network automation isn't just a trend – it's a career boost.

Imagine managing dynamic networks with ease and stepping into innovative roles that were once unthinkable. It’s like getting a superpower upgrade for your career. So, why not dive in, get those new skills, and lead the charge in this exciting new landscape?

Why AI Skills Matter for Network Engineers

AI is no longer the future; it's the present. For network engineers, understanding AI and automation is akin to having a secret weapon. These skills will help you handle increasingly complex networks, predict and solve problems before they happen, and make your job a lot more exciting. Plus, it positions you as a leader in the tech community, driving innovation and efficiency.

Tips to Get Started

1. Learn the Basics: Start with online courses on AI, machine learning, and network automation.

2. Get Certified: Certifications from credible sources like Cisco can boost your resume.

3. Hands-On Practice: Work on projects or contribute to open-source communities to get practical experience.

4. Stay Updated: Follow industry news and trends to keep your skills sharp and relevant.

Posted by KAREL LUKAS

The AI era is here, and it’s packed with opportunities for those ready to embrace change. So, let’s get learning and transform network engineering together!

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

The Coolest MSP Tools of 2024: What Hiring Managers Need to Know

In the fast-paced world of IT, keeping up with the latest tools and technologies is crucial. As we look at 2024, the Managed Service Provider (MSP) landscape is brimming with innovative solutions designed to streamline operations, enhance security, and boost efficiency. Whether you're already familiar with these tools or just starting to explore their potential, here's a look at some of the coolest MSP tools right now and how hiring managers can leverage this information.

Top 10 MSP Tools Making Waves in 2024

1. ConnectWise: A comprehensive suite of Remote Monitoring and Management (RMM) and Professional Services Automation (PSA) tools.

2. NinjaOne: Known for its unified IT management platform that simplifies complex processes.

3. Atera: Combines RMM, PSA, and remote access functionalities in a single platform.

4. ThreatLocker: Offers robust cybersecurity measures to protect against evolving threats.

5. Rewst: Specializes in automation, streamlining MSP workflows to enhance efficiency.

6. CyberQP: Provides advanced cybersecurity solutions tailored for MSPs.

7. Kaseya/Datto: Renowned for backup and disaster recovery solutions.

8. N-able: Offers a comprehensive range of IT management and security tools.

9. MSPbots: Utilizes AI to drive operational efficiency and smarter decision-making.

10. LogicMonitor: Known for its powerful and comprehensive monitoring capabilities.

How These Tools Impact Hiring Managers

As a hiring manager in the IT sector, understanding and leveraging the latest MSP tools can significantly impact your recruitment strategy and team development. Here’s how:

1. Identify Skill Gaps

   Staying updated on trending tools allows you to spot skill gaps within your current team. For example, if AI-driven automation tools like Rewst are gaining traction, ensure your team has the necessary skills to utilize them effectively.

2. Tailored Training Programs

   Use your knowledge of these tools to design or recommend training programs for your existing employees. If your team isn’t yet familiar with advanced cybersecurity solutions like ThreatLocker, prioritize training in this area to stay ahead of potential security threats.

3. Optimized Job Descriptions

   Crafting job descriptions that include specific tools your company is adopting or planning to adopt can attract candidates who are already proficient with these technologies. This reduces onboarding time and ensures a smoother transition.

4. Competitive Advantage

   Highlighting your use of cutting-edge MSP tools in your recruitment process can make your company more appealing to top talent. It signals that your company is innovative, forward-thinking, and invests in the latest technologies.

5. Collaboration and Innovation

   Encourage your team to collaborate on exploring these tools. Sometimes, the best insights come from hands-on experience. This approach not only improves your team's proficiency but also fosters a culture of continuous learning and innovation.

Conclusion

Posted by KAREL LUKAS

As the IT landscape continues to evolve, staying informed about the latest MSP tools is essential for hiring managers. By leveraging this information, you can ensure your team is equipped with the right skills and tools to stay competitive. From identifying skill gaps and optimizing job descriptions to fostering a culture of innovation, these tools offer numerous benefits that can significantly enhance your recruitment and team development strategies. Stay ahead of the curve and make the most of these cutting-edge MSP solutions in 2024.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

'SHIFT Report - Trending Topics in the World of Work_ (June 2024)

Our June issue of SHIFT stresses the importance of aligning employment with health drivers; using human-work models to boost employee performance; how "quiet quitting" has evolved into "resenteeism"; and how "shift shock" is sweeping social media.

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Working to Thrive

According to U.S. News, a pattern known as "shift shock" was one of the top 10 workplace trends of 2023, and it has risen in 2024. So, what is "shift shock?" It's the realization that your new role is not what you expected it to be, and it’s sparking conversation online, mainly among younger job seekers. A recent Muse Shift Shock Survey found that 72% of the Muse audience say they've experienced "shift shock," and 80% of the respondents said it's acceptable to leave a new job before six months if it doesn't live up to your expectations.

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Using Human-centric Work Models to Boost Employee Experience and Performance

According to a recent Gartner survey, employees operating in human-centric work models are three times more likely to both enjoy high intent to stay in their organisation and see low levels of fatigue. Fatigue, often associated with diminished employee engagement, can significantly impact organisational productivity and engagement. All this can lead to increased stress, burn out and poor talent retention. In light of this, organisations need to optimise their workplace, regardless of the model (remote, hybrid, on-site) with a compelling work culture value proposition that will enhance the overall employee experience and in return, drive productivity. They also must navigate competing priorities, ensuring that initiatives aimed at enhancing the employee processes that will drive tangible business results.

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 'Quiet Quitting' Has Evolved into 'Resenteeism'

Millennials are growing up - they are now managers in our workforce. It's time to talk about Gen Z, the generation born between 1997 and 2012. When it comes to workplace engagement, Gen Z gets a bad rap. Members of the generation are accused of being too casual in professional settings and have been declared "the most challenging generation to work with." So perhaps it's no surprise that workplace dissatisfaction is such a hot topic of conversation.

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'Shift Shock' Among the Top 10 Workplace Trends Sweeping Social Media

According to U.S. News, a pattern known as "shift shock" was one of the top 10 workplace trends of 2023, and it has risen in 2024. So, what is "shift shock?" It's the realization that your new role is not what you expected it to be, and it’s sparking conversation online, mainly among younger job seekers. A recent Muse Shift Shock Survey found that 72% of the Muse audience say they've experienced "shift shock," and 80% of the respondents said it's acceptable to leave a new job before six months if it doesn't live up to your expectations.

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The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

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BLS Employment Situation Report -- published June 7, 2024

Employment Summary for May 2024

Most labor market watchers from Wall Street to Main Street and in Washington DC were expecting to see a modest uptick in job growth in today’s data released by the Bureau of Labor Statistics monthly payroll report (BLS).

The 272,000 job gain was a bit more than the experts’ “modest” expectations, indicating a still growing economy and reducing the likelihood of a short-term cut in interest rates by the Fed. May’s growth was higher than the average gain of 232,000 over the past twelve months and saw gains in a broader range of industries verses the past few months.

The unemployment rate ticked up to 4.0 percent. A year earlier the rate was 3.7 percent.

“An underlying driver of not only today’s job market data but of the overall economy has been the anticipated impact of artificial intelligence on business productivity in virtually every industry. Our talent sourcing industry is no exception and in fact today we see benefits from AI not only in technology jobs but in talent search assignments ranging from healthcare and medical devices to engineering, finance and cyber security firms.

In May, forty of our franchise owners gathered to share best practices and to gain insight on technology trends from leading industry suppliers. A key topic from the Charleston, SC meeting was to better understand how AI, and its application on digital technology platforms, can enhance talent delivery effectiveness for search professionals and for clients and candidates,” noted Rick Hermanns, president and chief executive officer of HireQuest Inc., parent company of MRINetwork.

“Our professionals recognized that AI is significantly impacting search and recruitment processes right now. Many owners and managers throughout the global MRINetwork are using AI-driven tools to streamline various stages of the hiring process; from sourcing candidates, to resume screening, to analyzing initial assessments. We are finding not only obvious advantages including improved search efficiency and faster speed to hire but are seeing exciting potential in evaluating job requirements and more accurately aligning candidate skills, experience, and cultural fit to that job description.”

Providing an overview of today’s surprising uptick in the BLS data, The Wall Street Journal’s Sam Goldfarb noted, “Friday’s release comes after several recent reports have hinted at some unexpected weakness in the economy. Recent data on retail sales, overall consumer spending, construction and industrial production have all come in below economists’ expectations. Demand for workers has also appeared to be ebbing. There has been a modest uptick in the number of people applying for unemployment benefits after losing a job. Listed job openings have declined faster than economists had anticipated.” He further noted, “Most economists have remained optimistic about the near-term outlook, believing the economy is normalizing after a surprisingly hot stretch last year, rather than deteriorating in a more concerning fashion. Any anxieties on Wall Street that the economy might be cooling too fast were also mitigated earlier this week with the release of a stronger-than-expected report on the U.S. services sector.”

A possible explanation of the divergence between big increases in the payroll while also seeing a growth in unemployment, Ali Jaffery at CIBC Capital Markets noted, “We have tended to favor payrolls data given it better captures the impact of immigration.”

Employment continued to advance in several industries.

Healthcare added 68,000 jobs in May, in line with the average monthly gain of 64,000 over the prior 12 months.

Government employment continued to grow in May (+43,000), in line with the average monthly growth over the prior 12 months (+52,000).

Employment in leisure and hospitality continued to trend up in May (+42,000), similar to the average monthly gain over the prior 12 months (+35,000). Employment in food services and drinking places continued to trend up over the month (+25,000).

Professional, scientific, and technical services added 32,000 jobs in May, higher than the average monthly gain of 19,000 over the prior 12 months. Over the month, employment increased in management, scientific, and technical consulting services (+14,000) and in architectural, engineering, and related services (+10,000).

In May, employment in retail trade continued to trend up (+13,000), about in line with the average monthly gain over the prior 12 months (+8,000). Building material and garden equipment and supplies dealers provided most of that growth (+12,000).

Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; construction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; and other services. The transportation sector had added 22,000 jobs in April possibly indicating a slowdown in growth in that key industry.

“AI has already had a significant influence on many industries, and we’ve seen a significant impact within the healthcare segment which was the leading sector in today’s BLS data. The new technology promises improvements to mundane tasks such as taking notes and adding data to electronic health records without intense oversight from busy healthcare professionals. But it has only begun to show its value in collecting and analyzing data from diverse technologies and sources to provide a holistic view of a patient’s health and even treatment options.

MRINetwork talent professionals in our healthcare practices are helping both clients and candidates to understand how this wave of AI innovation will change every facet of healthcare recruitment. We advise candidates to embrace computer literacy to stand out as top performers and we work with clients to apply AI solutions to their workforce planning, recruitment and hiring processes. We look forward to the exciting evolution changing the healthcare talent landscape,” noted Hermanns.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

Podcast: Every Industry Has Its Dips: How to Deal With Demand Drops w/Karel Lukas

Just like many industries, recruiting isn’t immune to market highs and lows. Every sector is going to have its dips, and that can affect both demand and supply.

When there’s uncertainty in the economy, no one wants to rock the boat. Candidates want to stay where they are, and companies decide to cut back on hiring.

Over the last year, tech has found itself in this position. Between layoffs and concerns around AI, there has been a dip in demand, and it can leave a recruiter in a tough spot. How do recruiters deal with these pullbacks and survive to see the inevitable market upswing?

This is where tenacity and persistence really come into play. A post-and-pray approach won’t take you far in this market, a shaking-the-trees mentality will.

How do you make your business market-proof? What’s the secret to finding those hidden gem candidates? In this hashtag

#TalentHunters episode hosted by Vince Holt, president and managing director of The Trevi Group, Karel Lukas talks about what attracted him to recruiting, what makes his team stand out and his mindset on demand dips.

#recruitinglife #executivesearch #technology #entrepreneur #thetrevigroup #informationtechnology

https://lnkd.in/ekGiJWGF

'SHIFT Report - Trending Topics in the World of Work_ (May 2024)

Our May issue of SHIFT considers complications the 2024 election may bring to the workplace; explains a US labor board rule on contract and franchise workers; highlights emerging business intelligence trends; and reports on Microsoft's latest moves on the AI front.

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Managers can't escape politics in the workplace in the 2024 election year

Politics often makes for fraught office situations. With the presidential primaries in progress and the November general election quickly approaching, employers have already started bracing for a divisive election that will almost certainly impact their workforce. As reported by Yahoo Finance, dozens of executives and workplace experts Fortune spoke with say that business leaders should devise a policy rooted in the company's values sooner rather than later. Waiting until election season is in full swing to figure out what to say to workers is the wrong move.

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Judge blocks US labor board rule on contract and franchise workers

A federal judge in Texas has struck down a U.S. National Labor Relations Board (NLRB) rule that would treat many companies as employers of certain contract and franchise workers and require them to bargain with unions representing them, according to a report by Reuters. U.S. District Judge J. Campbell Barker agreed with the challengers to the "joint employers" rule, including the U.S. Chamber of Commerce, that it is too broad and violates federal labor law.

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Future of Business Intelligence

The world of business intelligence (BI) is giving rise to a future where data unfolds with fresh perspectives and unexplored potential. It's no longer just a question of whether you need business analytics, but rather, how to find the best BI solution tailored to specific needs. By staying up to date with emerging trends, you’ll ensure your BI solution continues to provide the most value to your business. The article from ThoughtSpot provides more details about these trends and highlights additional business intelligence trends you can expect to see going forward.

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Microsoft Hires Influential AI Figure to Head up Consumer AI Business

In more news on the AI front from US News & World Report, Microsoft has hired Mustafa Suleyman to head up its consumer artificial intelligence business, adding to its ranks an influential figure to cement its position at the forefront of the booming AI industry. Suleyman, co-founder of AI research lab DeepMind, will become CEO of Microsoft AI, leading all of the company's consumer AI products and research, including its generative AI service Copilot as well as its Bing search engine and Edge browser.

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The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

BLS Employment Summary for April 2024 (published 5/3/2024)

Once again, the Bureau of Labor Statistics monthly payroll report (BLS) takes center stage as investors, business executives, politicians and economists look for clues on the direction of the all-important jobs market. Today’s data had a little something for each of these audiences.

The report may indicate the first sign of a cooling job market as the BLS reported a gain of 175,000 jobs in April, lower than the average monthly gain of 242,000 over the prior 12 months. Analysts’ estimates had forecasted gains of about 250,000 jobs. The figures give hope to investors for possible fourth quarter Fed rates cuts, to business for easing of the skilled labor crunch, and to politicians for whatever spin they want to apply to the data.

The unemployment rate ticked up to 3.9 percent.

“Once again today’s data demonstrated the resilience of the small and large businesses’ that employ over 150 million Americans. Analysts pour over this monthly data to understand trends that might point to the overall health of the economy or to future actions by the Federal Reserve or, in this election season, to develop themes that might be advantageous to their favored candidate.

Leaders in our global MRINetwork of over 200 executive recruitment offices and the over 2500 talent search professionals look at the data to better understand trends within the industry groups reported by the BLS. We look for employment data and try to understand business drivers in the dozens of BLS industry sectors — from accommodation and food services to finance and insurance to semiconductor manufacturing and even warehousing and storage industries — where our teams operate in,” noted Rick Hermanns, president and chief executive officer of HireQuest Inc., parent company of MRINetwork.

“Shortly before I was preparing my comments on the BLS report this morning, I was reviewing the agenda for our firm’s annual American Hero Awards program. It is our nineteenth year of honoring U.S. servicemen and women who have fought for our freedom. Each year in mid-May, we gather aboard the USS Yorktown in Charleston, SC and present the American Hero Award to a veteran who exemplifies the values of the U.S. armed forces and to salute the Ultimate Hero Award honoree presented to the family of an individual who made the ultimate sacrifice in meritorious combat. It reminded me of the debt we owe to our veterans. Our U.S. offices strive to identify opportunities for those who have served in the armed services, and in fact some are veteran-owned and focused on the many industries who leverage candidate skills acquired in military service.

I’d urge all of our clients to ensure they have an understanding of the value that a seasoned military veteran can add to their talent mix. They bring not just technical skills but tangible attributes in leadership, teamwork, problem solving, and are top performers in stressful situations. It’s a win-win opportunity than every organization needs to consider.”

The Wall Street Journal’s Sam Goldfarb summarized today’s report, “Stock futures climbed, suggesting investors were pleased with the data, which could increase optimism about the outlook for inflation. Before Friday, recent data had shown remarkable stability in the labor market. Despite the Fed’s efforts to fight inflation by lifting borrowing costs, businesses have continued to hire at a robust clip, the unemployment rate has ticked up only modestly, and a report on Tuesday suggested that a slowdown in wage growth has stalled. Economists have noted that conditions could shift quickly. Past surges in unemployment have often arrived with little warning. Demand for workers has already cooled, with declines in the number of job openings and in the share of workers voluntarily leaving their jobs.”

Last week, Citi economists Veronica Clark and Andrew Hollenhorst wrote in a preview note, “Another upside surprise to payrolls would further the recent narrative of few or no rate cuts from the Fed. But Fed officials have been downplaying any hawkish reaction to stronger employment, and a downside surprise to employment would lead to a sharp pricing-in of more Fed rate cuts.”  It remains to be seen how the Fed interprets the April figures.

There were no outstanding industry sector performers as the data reported moderate growth in most areas.

Healthcare added 56,000 jobs in April, in line with the average monthly gain of 63,000 over the prior 12 months.

In April, transportation and warehousing added 22,000 jobs, with gains in couriers and messengers (+8,000) and warehousing and storage (+8,000). Over the prior 12 months, employment in transportation and warehousing had shown little net change.

Employment in retail trade continued to trend up in April (+20,000). Over the prior 12 months, the industry had added an average of 7,000 jobs per month.

Construction employment improved slightly in April (+9,000), following an increase of 40,000 in March. Over the prior 12 months, construction had added an average of 22,000 jobs per month.

Notably growth in government employment cooled in April as 8,000 jobs were added versus an average job addition of 55,000 per month over the past 12 months.

Employment was little changed over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; information; financial activities; professional and business services; leisure and hospitality; and other services.

“If you will be in the low country of Charleston, SC area on May 14, please feel free to join us on the USS Yorktown as we honor two courageous Americans. Or you are invited to join the event via live streaming. Let us know and we will welcome you aboard,” noted Hermanns.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

'SHIFT Report - Trending Topics in the World of Work_ (April 2024)

Our April issue of SHIFT examines the shift away from long-term employment; identifies the world's most influential CEOs in 2024; looks at the high demand for labor in the construction industry; and explores the workforce trends leaders are following this year.

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Job for life? Not anymore.

The shift from stable, long-term employment and single-employer careers to a world where frequent job changes are the norm comes directly from globalization, rapid technological advancements and the changing ideas about work.

Career paths have become fluid and multi-directional. It’s no longer just about climbing the corporate ladder and getting a regular paycheck; it’s about exploring different paths, switching jobs and industries and sometimes even venturing into freelancing and the gig economy.

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The World's Most Influential CEOs of 2024

Brian Moynihan, Chairman and CEO of Bank of America, has topped the global ranking of the world’s best CEOs across all industries for 2024, according to CEOWorld Magazine. Jamie Dimon, Chairman and CEO of JPMorgan Chase, has secured the second spot, followed by Amin H. Nasser, CEO of Saudi Aramco, at No. 3, Darren W. Woods, CEO of Exxon Mobil, at No. 4, Satya Nadella, CEO of Microsoft, at No. 5, and Tim Cook, CEO of Apple, at No. 6. The CEO of Shell, Wael Sawan, has been ranked seventh among the world's top 10 best CEOs and business executives for 2024. Akio Toyoda, who leads Toyota Motor, has been ranked eighth. Liao Lin of the Industrial and Commercial Bank of China and Kyung-Kye Hyun, the chief executive of Samsung Electronics, hold the ninth and tenth positions.

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2024 Construction Workforce Shortage Tops Half a Million

The construction industry will need to attract an estimated 501,000 additional workers on top of the normal pace of hiring in 2024 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors. In 2025, the industry will need to bring in nearly 454,000 new workers on top of normal hiring to meet industry demand, and that’s presuming that construction spending growth slows significantly next year.

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Workforce Trends Leaders Are Following This Year

Thanks in part to what some are calling a forever labor shortage, more employers will turn to skills-based hiring, according to Forbes. The pandemic left a permanent mark on hiring trends, leading companies to look toward alternative solutions when it comes to growing their staff. Whether it’s the newer generations’ shift in workplace values, or job seekers finding other means to upskill rather than relying on secondary education, companies will need to adapt to the ever-changing workforce landscape.

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The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends

BLS Employment Situation Report -- published April 5, 2024

Analysts were anticipating a slight cooling in overall labor market conditions with non-farm payroll hiring expected near the 2000,000-mark in this month’s Bureau of Labor Statistics (BLS) payroll report. Once again, today’s BLS data, indicating a jobs gain of 303,000, surprised the experts. March results are higher than the average gain of 231,000 over the prior 12 months, partially driven by an uptick in government hiring.

Unemployment at 3.8 percent remained in the same range narrow range of between 3.7 to 3.9 percent since August 2023.

“As experts analyze today’s BLS employment data and try to model future trends in the overall U.S. jobs market, I’d like to drill down to a key segment of the employment landscape. Our global Network of over 200 executive recruitment offices focus on top talent primarily within the college educated segment of the U.S. labor force. That segment is experiencing what amounts to full employment with jobless rates of 2.2% or lower. Our teams provide clients with access to a highly sought after sub-segment of this cohort with even lower rates of unemployment, experienced executive, professional, technical and managerial talent,” noted Rick Hermanns, president and chief executive officer of HireQuest Inc., parent company of MRINetwork.

“A recent article in the Wall Street Journal draws attention to a critical talent recruitment and onboarding skill that many clients tend to undervalue or even ignore. The reporters address the particular recruiting challenges in the high-flying world of Nvidia, one of the most desired employers in the tech world. They note ‘a sense of urgency’ drives Nvidia managers in both the hiring and onboarding processes. Not a reckless desire to get things done quickly, but a carefully thought-out process integrated into the company’s culture where the reporters noted, ‘Nvidia would usually wait no longer than two weeks from first interviewing a candidate to making a decision.’ They report the brief but intense hiring process is followed by a quick immersion of the new employee into a world where new hires, ‘are quickly thrown into big projects with real responsibilities.’ In today’s business climate, highly talented candidates expect to be treated with respect indicated by a focused interviewing process with tightly targeted questions, followed by immediate feedback and a transparent decision-making process. When hired the best performers then thrive on immediate involvement in meaningful projects.”

CNBC reporter Jeff Cox provided an overview of today’s results in an era of higher interest rates, “The job market’s resilience has confounded many economists who spent the past two years searching for a jobs-led recession that never happened.” Cox noted Luke Tilley’s (chief economist at Wilmington Trust) comments, “Firms are seeing strong demand. They’ve dramatically increased their productivity, and so they’re hiring for different kinds of jobs, that has enabled them to deal with the high-rate environment.”

Paul Nolte, market strategist from Murphy & Sylvest Wealth Management, provided interest rate insight on the BLS data, "Everything in today’s numbers look good. Participation rate was up, hours worked were up. The reason the unemployment rate came down was because of more people coming into the labor force. With this number and the prior numbers we've seen, it still indicates that the labor market is strong. We’ve been in the camp that the Fed doesn't cut rates at all because the economy is strong so this still fits within our framework of good employment data that should keep the Fed on the sidelines."

Healthcare added 72,000 jobs in March, above the average monthly gain of 60,000 over the prior 12 months. Also increasing was government hiring with federal and local government positions increasing by 71,000 jobs.

Employment in leisure and hospitality trended up in March (+49,000) and has returned to its pre-pandemic February 2020 level. Over the prior 12 months, job growth in the industry had averaged 37,000 per month.

Construction added 39,000 jobs in March, about double the average monthly gain of 19,000 over the prior 12 months. Over the month, employment increased in nonresidential specialty trade contractors (+16,000).

Employment in the other services industry continued its upward trend in March (+16,000). The industry had added an average of 8,000 jobs per month over the prior 12 months.

In March, employment in retail trade was up slightly (+18,000). A job gain in general merchandise retailers (+20,000) was partially offset by job losses in building material and garden equipment and supplies dealers (-10,000) and in automotive parts, accessories, and tire retailers (-3,000).

Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; and professional and business services.

“Our talent advisory teams bring expert advice to clients every day on how to structure a winning recruitment and onboarding environment aligned with a client’s culture. Each MRINetwork office is led by a franchise owner who brings deep industry experience and talent knowledge to source the top performers our clients need to grow and thrive in any business environment,” noted Hermanns.

The Trevi Group | “Executive Search for Technology Professionals” | www.TheTreviGroup.com

#thetrevigroup #recruitingtrends #informationtechnology #employmenttrends #jobmarket #hiringtrends