People Risk 2024

People risks are financial risks. Explore the 25 top people risks as ranked by over 4,575 risk and HR professionals.

Risk, finance, health and safety, and HR professionals across 26 markets shared the most significant people risks impacting employee health and well-being.

The People Risk report is your guide for a proactive, predictive, and disciplined approach to people risk management. It outlines key workforce threats facing employers worldwide organized under five pillars of risk, the impact they can have on your organization, and practical approaches to addressing critical risks today and tomorrow.

Use this report to identify, prioritize, and manage the most critical people risks across your organization:

Discover the most significant people risks facing businesses globally
Learn strategies to proactively manage your people risk
Understand how to identify and overcome barriers to mitigate people risk
Determine innovative and collaborative actions you can take to effectively manage risks and plan ahead

Explore the full report

Technological change and disruption

1 in 2 respondents are concerned over increased risk of cyber-attacks specifically due to lack of cybersecurity awareness, organizational design and/or culture.
45% of HR/risk professionals worry about lack of progress in simplifying, automating, standardizing, and digitizing HR processes.

Technology is forging new jobs, delivery channels and products, but it is also introducing new risks and deepening existing ones.

Managing these risks means creating a culture that is committed to protecting the organization from cyber threats, data breaches and intellectual property theft, as well as one that is genuinely addressing AI and other disruptive technologies both as an opportunity and a threat.

Talent, leadership and workforce practices

66% of companies report not having an effective employee value proposition in place today.
1 in 3 HR/Risk professionals are concerned about senior leadership’s lack of expertise in crisis management.

Organizations can only remain competitive if they can recruit and develop the right skills, talent and leadership. However, equally as important is ensuring employees’ needs are met in order to promote thriving and productivity.

Leadership needs to be able to recognize employee needs, inspire engagement and loyalty and take action on supporting their people through critical moments in their lives and in moments of company crises. These actions engender trust and are critical in supporting a culture of risk management.

Health, well-being and safety

66% respondents say mental health deterioration is very likely or likely to occur at their organization in the next 1-2 years
41% of organizations worry about lack of skilled resources and expertise to understand and address health, wellbeing and safety risks.

Employee health and safety is a staple of any people risk agenda, but organizations must broaden the scope of how they define well-being at work.

As suicide, conflict and burnout trend in the wrong direction, psychological health and emotional well-being now demand equal recognition with physical safety in terms of risk mitigation.

Employers have a unique opportunity to advance health support for their employees and fill gaps within traditional systems of healthcare.

Governance, compliance and financial

Increasing health and benefit costs is the highest-ranking people risk in India.
52% of respondents are concerned about making benefits decision without considering long term cost impact

As inflationary pressures on benefit costs persist, organizations must plan for changes to their benefit programs now. Managing underlying risks and keeping focus on ensuring employees remain well can help to manage claims costs.

As it relates to people risks more broadly, increasing stakeholder scrutiny, litigation and legislative activity across different regions means that identifying and getting ahead of emerging governance gaps is crucial.

Environment, sustainability and protection

45% of HR/Risk professionals are concerned about lack of benefits to cover climate-related health conditions.
59% organizations are struggling to manage employee expectations regarding salary increases during high inflation or uncertain economic conditions.

Environmental risks have traditionally been interpreted as related to property, but the potentially catastrophic impact of extreme weather events and natural disasters on the health and well-being of employees and their families is an imminent threat.

Issues such as the cost-of-living crisis have compounded hardships for many employees over this decade. Widening disparities between executive and worker rewards as well as values are now having an impact on workplace dynamics as well as labor relations.

Explore the top 3 risks by region and industry

How do key trends compare and differ by region and industry? We have captured the top trends across 8 regions and 12 industries for you to explore where they align and how they differ. Download the report to explore for all 25 risks and implications and actions for organizations and their workforce.

Report FAQs

The People Risk report, surveying over 4,575 professionals, evaluates 25 key people risks across five pillars, including technological change, talent practices, health and safety, governance, and environmental sustainability. Respondents assessed the impact and likelihood of each risk over the next one to two years, using a Risk Rating Score (RRS) to prioritize them. The report highlights critical workforce challenges and opportunities faced by risk leaders in various industries and regions. Its aim is to aid in understanding and mitigating the people risks most likely to affect organizational health and success.

The People Risk report is a critical resource for risk professionals, including anyone involved in an HR function in their organization and with responsibility for managing business and people related risks. It is an essential resource for those involved in the growth and success of their business and helps inform decision-making when prioritizing and mitigating workforce-related risks.

This report equips risk and HR functions with actionable insights necessary to navigate current and future uncertainties for different industries across regions and markets. Read client case studies and find out how we are helping other organizations, the lessons they are learning, and the value we are delivering.

The People Risk report provides risk and HR professionals, and those that work with you, with innovative strategies to prioritize and effectively manage workforce-related risks within your organization. As stakeholder expectations increase, you can better collaborate to help your business and its people thrive.

Download the full report or the key stats
Download the prior report – People Risk 2022

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Report

People risks are financial risks. Explore the 25 top people risks as ranked by over 4,575 risk and HR professionals.

Risk, finance, health and safety, and HR professionals across 26 markets shared the most significant people risks impacting employee health and well-being.