We continue to move from one crisis to another with organizations reacting to unfolding events.
Instead, they must learn the lessons of the pandemic, strengthen risk management foundations by being more deliberate, comprehensive and innovative in anticipating emerging and longstanding risks.
Critical to this is building on the trust established between risk and human resource functions so they work together to protect employees and mitigate people risks linked to health and safety, ESG and the future of work.
Health and safety is a serious people-related threat facing organizations, according to risk managers and HR professionals.
In fact, 88% of organizations across Middle East and Africa (MEA) said this was a serious threat to businesses. In addition, our Global Talent Trends research showed that 36% of executives have seen measurable returns from their investment in health and well-being.
Business leaders are increasingly aware that health and well-being is a cornerstone of organizational success. However, as benefit costs rise, legislation becomes more complex and supply chain risks become more apparent, Human Resources and risk teams must be more strategic and robust in terms of benefit governance activities.
Accelerated digitization is pushing digital risks, including cybersecurity and data privacy ahead of all risks. More than nine out of ten cybersecurity issues can be traced to human error.
For the second year running, the MMB People Risk 2022 research showed that HR and risk professionals ranked cybersecurity as the number one risk facing business across MEA.
The MMB 2022 People Risk report found that 83% of HR and risk managers across Middle East and Africa (MEA) agree that talent practice exposures are a serious threat to business. The changing nature of work ranked #5 out of all 25 people-related risks, both for MEA and globally.
Organizations are increasingly feeling the pressure to ensure that profit does not come at the expense of society or the planet. Environmental and social risks featured prominently in the list of top 10 people risks in Pacific, Latin America and the Middle East and Africa. This comes from several quarters, including employees, customers, investors and regulators.
What are the key risks and priorities for HR and risk professionals in 2022?
HR and risk managers are aligned on some of the top risks while ranking them differently.
Explore five people risks, how to mitigate them, and the differences across geographies and industries.
People Risk 2022 includes views from 2,594 HR and Risk professionals in 25 countries across Asia, Europe, Latin America, the Middle East, and Africa, North America, the Pacific, and the United Kingdom, from industries including finance, communications, media, technology, manufacturing, automotive and retail.