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Unlocking opportunities to manage workforce risk

Prepare for 2024 by aligning workforce risk strategies with employee needs.

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22/09/2023 · 5 min read

To help employers prepare for 2024, we compared the data and insights from more than 2,500 risk and HR managers and 17,000 employees. We found plenty of evidence that employers are missing the mark when it comes to effectively managing people risks.

Unlocking opportunities to manage workforce risk compares employer and employee research to outline the impact and implications for your business as you prepare for the future.

Use this report to:

  • Get a clear view of top workforce challenges as you plan for 2024.
  • Learn the four key areas requiring risk and HR professionals’ attention to better prepare for the year ahead.
  • Take steps to manage key people risks effectively, develop strategies, and build workforce resilience.

Unlocking opportunities to manage workforce risk

Our perspective

We identified four key risk areas where businesses need to focus their attention.
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When we spoke to business leaders, risk managers, and heads of HR about what keeps them up at night, the war for talent was a consistent theme. But did you know that 43% of organizations think their employee value propositions (EVPs) need improvement or don’t know how effective their EVPs are? This is a significant wakeup call.

When we asked workers about their states of mind, their concerns included economic conditions, health crises and pandemics, and violent crime. And 67% said their employers would support them in an emergency or time of need. Are you prepared to effectively support workers in their moments that matter?

Following the pandemic, more people are exhibiting signs of depression and anxiety — 47% of employees said they are stressed in their everyday lives. Potential burnout factors include work pressures, poor leadership, and a toxic work culture. It’s important that leaders, risk managers, and HR teams highlight and address practices within their organizations that can lead to poor mental health.

The environment is critically important to employees, and 66% said they want employers to support environmental sustainability through internal and external statements and actions. Organizations are feeling pressure from customers, investors, employees, and regulators to ensure that profit doesn’t come at the expense of society or the planet, along with pressure to give back to communities.

HR teams and risk managers must work closely together to effectively manage and address people's risks. Risk management strategies must be aligned with employees’ needs to ensure a resilient business.

Are you ready to address key workforce risks and strategies as you prepare for 2024?

Read the Unlocking opportunities to manage workforce risk report to know more.

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