Mercer Marsh Benefits

Managing people risk

People-related risks have risen sharply up the boardroom agenda as a result of the single largest health crisis of our time. Prepare today to manage the risks impacting your workforce now and in the future.

Report

People Risk 2024

People risks are financial risks. Use this report as your guide to managing the top people and business-related risks. Data and insights from over 4,575 risk and HR professionals.

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When your people are healthy and protected, your business is healthy and protected

People-related risks have risen sharply up the boardroom agenda as a result of the single largest health crisis of our time.

People are an organisation’s most important strength, but they can bring significant risk to your business if not properly managed. Never before has it been so crucial that HR and risk management break down silos and work together to protect, equip, and motivate this critical asset.

Mercer Marsh Benefits provides organisations with a single source to manage business risks associated with the impact of employee illness and injury (people risks), including; risks, costs, expectations, obligations and complexities.

We partner with hundreds of organisations across Australia, to help them better understand their people risks, to ultimately unlock savings and improve employee health and wellbeing.

Our approach

Our approach is to view the management of people risks in a cycle. We believe there is an opportunity for organisations to change the focus of people risk management to better address keeping employees healthy, well and productive above the health line, to contain costs, improve productivity and minimise the impact of ill health below the line.

Depending on where you are in your journey to building a healthy, protected and productive workforce, we can either partner with you on individual class-leading products & services, or as a fully integrated program.

LCPA: 24/046

Managing people risk

When HR and risk professionals work together, they can mitigate people risks linked to cyber threats, new legislation, employee safety and the changing nature of work. Prepare today to manage the risks impacting your workforce now and in the future.

Understanding and evaluating dynamic people risk factors is a top priority for business leaders who want to turn vulnerabilities into strengths. Employee health and benefits plans can be used strategically to manage a range of threats, while helping protect your workforce and improve business performance.

Helping you overcome your greatest challenges

It’s never been more urgent to tackle people risk management.

Organizations can no longer simply react to unfolding events. Instead, they should build on the lessons learned from the pandemic and put in place a strong foundation that will allow them to thoroughly anticipate and mitigate risks.

Never before has it been so crucial that HR and risk management break down silos and work together to protect, equip, and motivate this critical asset.

2/3 of Australian and New Zealand HR and risk professionals claim employee health and wellbeing risk is likely to impact their organisation in the next three years.

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Health and Safety

*All statistics cited are from Mercer Marsh Benefits People Risk 2023 report.

Risk managers across Australia and New Zealand rated two of their top 5 risks as governance and financial risks. As the requirements related to total rewards management become increasingly complex, businesses must work to ensure they are being compliant, prudent and fair.

Mature woman with glasses smiling and looking out the window at office

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Governance and financial

*All statistics cited are from Mercer Marsh Benefits People Risk 2023 report.

Accelerated digitisation is pushing digital risks, including cybersecurity and the impacts of automation and AI, to the forefront. Indeed, cybersecurity and data privacy is a top people risk facing Australian businesses today.

Medical team of two professional doctors talking and using digital tablet. Senior male chief physician helping young female nurse holding medical tech device discussing patient diagnosis in hospital.

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Accelerated digitization

*All statistics cited are from Mercer Marsh Benefits People Risk 2023 report.

Our 2023 People Risk Report: Pulse Check found that talent practices was a consistent top 5 risk area in Australia and New Zealand.

Smiling young businessman talking with colleagues during their coffee break together in a bright modern office

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Talent practices

*All statistics cited are from Mercer Marsh Benefits People Risk 2023 report.

The increasing cost of health, risk protection and well-being benefits is a top priority for businesses across Australia. Employers are facing challenges with factors such as inflation and a reduced insurer appetite for risk, while claims are becoming more frequent and longer in duration.

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Cost management

*All statistics cited are from Mercer Marsh Benefits People Risk 2023 report.

Environmental and social risks were rated as the third highest ranking people risk in terms of likelihood and severity. Organisations are under increasing pressure from customers, employees and investors to address inequalities, remove disparities and combat climate change.