25 workforce-related threats facing employers worldwide according to HR professional and risk managers.
We continue to move from one crisis to another with organizations reacting to unfolding events.
Instead, they must learn the lessons of the pandemic, strengthen risk management foundations by being more deliberate, comprehensive and innovative in anticipating emerging and longstanding risks.
Critical to this is building on the trust established between risk and human resource functions so they work together to protect employees and mitigate people risks linked to health and safety, ESG and the future of work.
Find out how managing people risk across five key pillars can build business and human resilience.
Every day we see that the health and resilience of your people drives the health and resilience of your business.
People risk is what connects the worlds of HR and Risk together.
As the world moves from one crisis to another,
organizations need to create a strong foundation
to anticipate and manage risks
Recent events have shown how risks are interlinked,
with people at the center
People risk is what connects the worlds
of HR and risk together
By focusing time, budget and effort
on addressing the five pillars of people risk –
Health & Safety, Governance & Financial, Accelerated Digitization, Talent Practices, and Environmental & Social –
you can improve the health and resilience
of your people and your business
Today, employees expect more from their organizations,
and from their leaders
Firms need to ask themselves:
“Can we give our people more security, flexibility and better health,
while also managing costs, navigating operational disruption
and preparing for a more accountable future?”
It’s time to review your people risks
The top 10 people risks identified by HR and risk managers globally
can be mitigated by employee benefits and other support programs,
or how they are designed and delivered
Do you want to better understand
and manage your people risks?
Download our free report today.
MMB people risk research looked at the 25 individual people risks with the greatest power to disrupt business.
Expand each section to learn more about the five pillars of people risk.
The pandemic pushed the health and safety of employees and society as a whole to the fore. As a result, nearly nine out of ten (87%) HR and Risk professionals rate health and safety people risks as a serious threat to the business.
Administering employee benefits, retirement plans, and compensation is becoming increasingly complex. Regulation ranging from new compensation disclosure requirements, ongoing anxiety over equipping individuals to make the right financial decisions and evolving employment and benefits legislation contribute to making this the second highest rated people risk.
Accelerated digitization is pushing digital risks, including cybersecurity and data privacy ahead of all risks. More than nine out of ten cybersecurity issues can be traced to human error.
The way sensitive employee data is used in benefit plans continues to be an area of data exposure as more people join new companies as part of “the great resignation”. At the same time, the accelerated pace of digital transformation is changing the relationship between people and machines. Automation and AI advances are anticipated to require half the workforce to reskill by 2025 and 75m jobs to be lost.
The war for talent, especially digital skills, means organizations across different industries are competing for the same high performers. Consequently, 43% of employers say their employee value proposition now needs improving.
There is an urgent need to recruit the new skills required to drive transformation, as well as retain and motivate existing talent. The changing nature of work, from the rise of hybrid working to globalization, is now the fourth-biggest people risk overall.
Environmental and social risks now make up a fifth of the top ten people risks but are perceived to matter more to employees than the c-suite.
Organizations are feeling pressure from customers, investors, employees and regulators to ensure profit does not come at the expense of society or the planet. Employees also want to work for socially responsible employers with good ESG credentials. However, only 3 in 4 organizations agree that they have enough budget to manage environmental and social risks today.
What are the key risks and priorities for HR and risk professionals?
HR and risk managers are aligned on some of the top risks while ranking them differently.
Explore five people risks, how to mitigate them, and the differences across geographies and industries.
People Risk 2022 includes views from 2,594 HR and Risk professionals in 25 countries across Asia, Europe, Latin America, the Middle East and Africa, North America, the Pacific, and the United Kingdom, from industries including finance, communications, media, technology, manufacturing, automotive and retail.