People Risk Report: Pulse Update 2023

A Pacific Update One Year On

Get a local perspective on the current state of people risk with the Mercer Marsh Benefits 2023 People Risk Report: Pulse check.

Based on a survey of 216 HR and Risk Managers in Australia and New Zealand, this report provides valuable insights into the evolving prioritisation of key people risks across five pillars:

• Health and Safety
• Talent Practices
• Governance and Financial
• Accelerated Digitisation
• Environment and Social

Despite ongoing volatility, the survey reveals a collective perception among respondents that people risks are now less likely and less severe than they were a year ago. However, there are persistent disparities in the views of HR and risk managers regarding the probability, potential ramifications, and level of readiness to manage these risks.

At a glance overview of the report's key findings:

• Cybersecurity and data privacy continues to hold the #1 spot overall; skills obsolescence enters the top 10 as a second Accelerated Digitisation risk
• Health and Safety remains a top priority, with employee mental health and wellbeing and pandemic management making significant shifts
• Talent Practices risks have escalated in threat level, with talent attraction, retention, and engagement joining the ranks of the top ten risks.
• Governance and Financial features a second risk moving into the top ten, with growing concerns about health, risk protection, and wellbeing benefits.
• Environmental and Social risks have diminished in overall importance, with only one – catastrophic personal life events – retaining its position in the top ten.

To view all people risk rankings for 2023 and gain additional insights, download the full Mercer Marsh Benefits 2023 People Risk Report: Pulse Check.

Discover what these trends mean for your organisation and how you can better manage people risks in the years to come.