How do you evaluate the strategic importance of open IT positions versus currently filled roles when facing budget pressure?

https://pmc.ncbi.nlm.nih.gov/articles/PMC3961627/#:~:text=Program%20budgeting%20and%20marginal%20analysis%20is%20an%20approach%20to%20priority,opportunity%20cost%20and%20the%20margin.

All based on need/priority.  If you need a electrician and have too many plumbers or the plumber work is lower priority, then prioritize the new hire.  It's challenging/difficult as many of the people you might need to let go could be fantastic at what they do. 

Following a cyber incident, we were permitted to add headcount, but concurrent austerity measures required us to cut operating and salary budgets by 5%. I advocated for flexibility to reduce third-party costs and maintain headcount, especially for mission-critical roles. In the BC healthcare sector, technology often takes a backseat to direct patient care, so we must continually reassess our approach.

One approach for objectivity and consistency is to use a weighted matrix. There is subjectivity but at least it is broken down into criteria's and transparency. The other Blue Ocean approach is to hire talents with exceptional success in other areas and transplant into the strategic role.