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Mercer Marsh Benefits

People Risk Report: Pulse Update 2023

Discover the latest trends and insights from 216 HR and Risk Managers in Australia and New Zealand.

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.

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. By completing this form you confirm that you have read the Marsh Privacy Policy and you authorise and consent to Marsh collecting, holding, using and disclosing any personal information in accordance with those terms. This includes us sending you direct marketing communications and information in various forms about our services that we consider may be of interest to you. LCPA 23/432

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”