by AF 0514 g3 — May 18, 2009—More than 50 percent of security practitioners have experienced budget cuts due to the current economic crisis, according to new research from the Security Executive Council (SEC).
The research, which was compiled through a survey completed by 259 participants, found that security departments faced budget cuts of approximately 17 percent from fiscal 2008 to 2009. Most budget reductions were reported in contract services/consulting (46 percent), capital projects/equipment (48 percent), training and conferences (52 percent) and business travel (51 percent). Only 34 percent reported a decrease in staffing.
In comparison, only 19 percent of security practitioners reported a decrease in budgets from fiscal 2007 to 2008.
Even though the financial crisis is squeezing the wallets of many businesses, some survey respondents reported budget increases—23 percent in 2008 to 2009. But that number differs greatly from the budget increases reported in 2007 to 2008, which were marked at 48 percent, according to the survey.
Even as budgets are being cut, incidents are increasing. Theft and fraud were reported to be at the top of the list, along with human resources support and violence. In an effort to mitigate potential problems, security managers implemented awareness programs and deployed technology, such as CCTV or IP monitoring.
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