The recent shooting of United Healthcare CEO Brian Thompson has put a national spotlight on the issue of security, and many corporations are expected to reexamine their programs to protect their senior executives from harm.
According to Ed Wurster, a public safety consultant and former Chief Physical Security Officer for a Fortune 500 energy company, the landscape for the physical security industry has changed dramatically. “Twenty years ago, much of the work centered around minimizing theft, but today, the potential for security threats related to social media trolling and acts of terrorism has risen dramatically.” Following Brian Thompson’s death, many companies have removed the biographies and photographs of their senior executives from their company websites, and some in-person events, such as investor meetings, are moving to virtual platforms. “Three years ago, suggesting removing an executive’s bio or social media profiles from the Internet would have been seen as overly alarmist,” says Wurster. Not so anymore, and several indicators suggest that job growth in the industry is on the horizon.
Nearly 25 percent of CEOs and 16 percent of other executive officers in S&P 500 companies received home or personal security services last year, according to WTW, a risk management service provider. Fortune Business Insights predicts the global security market will reach $211.67 billion by 2030. Additionally, the Bureau of Labor Statistics estimates that employment in the security and investigation services industry will grow by 6.5 percent between 2019 and 2029, and growth in the sector is tracking at a rate 75 percent higher than other industries.
The growing need to manage safety threats has spawned innovation and an influx of companies addressing security challenges. Biometrics, cloud-based video surveillance, enterprise incident management software, and network video recording servers are just a few of the solutions gaining traction. Private equity firms have seen an opportunity to invest in the safety and security industry. Wind Point Partners, AE Industrial Partners, Berkshire Partners, and Tenex Capital Management are just a few of the firms funding security initiatives.
As methodologies for managing physical security evolve, so will the job skills necessary to remain competitive. Wurster states, “The convergence of physical security with cybersecurity has become more critical as businesses seek to protect their digital and physical assets.” Wurster also believes that holding security industry-relevant certifications will be critical if security industry veterans want to be contenders for future industry roles.
As companies continue to invest in security solutions, professionals with relevant job skills will be in demand. Key industries benefiting from this growth include the private security, cybersecurity, surveillance, emergency management, government, and transportation sectors. Job growth is predicted to be strong in areas where there is a need to protect people, assets, and critical infrastructure, driven by increasing global threats, terrorism, and violence. Top of Form
More specifically, job growth is expected in:
1. Cybersecurity-Physical Security Integration
- Security Analysts: Professionals who understand both physical and cyber threats.
- Physical Security Consultants: Experts who help integrate physical and digital security measures.
- Security Systems Engineers: Specialists who design and install complex security systems.
2. Surveillance and Monitoring
- CCTV Operators: Personnel to monitor security cameras.
- Surveillance System Technicians: Technicians to install and maintain advanced security systems.
3. Private Security and Guard Services
- Security Guards: Physical security professionals at key locations.
- Armed Security Personnel: Armed guards to deter criminal activity.
- Event Security: Security services at large public gatherings and events.
4. Facility Security and Emergency Management
- Security Managers: Professionals to oversee physical security operations for businesses and organizations.
- Emergency Preparedness Coordinators: Professionals to manage preparedness for potential security breaches or emergencies.
- Risk Assessment Specialists: Professionals to conduct security assessments and design mitigation strategies.
5. Government and Critical Infrastructure Security
- Federal Security Officers: Professionals focused on protecting sensitive government locations.
- Infrastructure Protection Specialists: Professionals focused on securing physical infrastructure such as energy grids, dams, and transportation systems.
6. Access Control and Biometrics
- Biometric Security Technicians: Technicians skilled in installing and maintaining biometric systems.
- Access Control Specialists: Experts in designing systems that control access to various facilities or secure areas.
7. Retail Security
- Loss Prevention Specialists: Professionals focusing on reducing theft and maintaining safety in retail settings.
- Security Managers in Retail: Professionals overseeing physical security in stores and shopping malls to protect against theft, vandalism, and violence.
8. Transportation and Logistics Security
- Transportation Security Officers: Security professionals specializing in protecting cargo, drivers, and transportation hubs.
- Cargo Security Specialists: Experts in preventing theft and ensuring the safety of shipments.
9. International and Homeland Security
- Homeland Security Officers: Physical security professionals protecting local and federal agencies.
- Intelligence Analysts: Professionals focused on security intelligence gathering to identify physical threats.
This article was also posted on the Human Capital Solutions blog.
