As 'megatrends' grow more interconnected, businesses need to adopt 'comprehensive, data-driven, forward-looking approach to risk management'
Addressing the risks associated with the workforce has emerged as one of the top priorities of business decision makers across the world, according to a new report.
Aon's Business Decision Maker survey found that most respondents in North America and Europe said it is "extremely important" (84%) or important (98%) for their business to properly manage workforce-related risks.
It comes as organisations are increasingly balancing costs with the ability to provide a compelling employee experience, according to the report.
Aon found that rising workforce costs are among the largest challenges business decision makers face, with 57% saying their company has changed their benefits or healthcare offerings in the last year.
Overlapping risk concerns
Other global megatrends that concern business decision makers, including trade, technology, and the weather, are also starting to overlap with their workforce worries, according to the report.
In fact, around half of business climate risks are already impacting an organisation's workforce strategy by:
- Reskilling or upskilling for demands of green tech (52%)
- Creating a mission-driven culture that attracts and retains talent (45%)
Eric Andersen, president at Aon, said business decision makers will not be able to effectively manage their exposures to these megatrends over the next year without taking action.
"As the megatrends grow more interconnected, businesses which adopt a comprehensive, data-driven, forward-looking approach to risk management will more confidently address challenges and seize opportunities amid uncertainty," Andersen said in a statement.
Aon's inaugural Business Decision Maker Survey interviewed 812 business decision makers, including C-suite executives, senior executives, and executives, from the United States, Canada, United Kingdom, Germany, France, Italy and Spain.
