Do you know which people risks provide the greatest threat to your business and how to mitigate them?

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.

 

Find out how managing people risk across five key pillars can build business and human resilience.

 

The five pillars of people risk
that are having the greatest impact on businesses across the globe

 

MMB people risk research looked at the 25 individual people risks with the greatest power to disrupt business. 

 

Health & Safety

 

  • Pandemics & other communicable health conditions
  • Employee health & well-being
  • Mental health
  • Workforce exhaustion
  • Work-related illness or injury

 

Governance & Financial

  • Administration and fiduciary
  • Increasing cost of health, risk protection and well-being benefits
  • Benefit, policy and reward decision making & accountability
  • Legal, compliance and financial practices
  • Pension financial exposure

 

Accelerated Digitization

  • Cybersecurity and data privacy
  • Impacts of automation and AI
  • HR technology obsolescence 
  • Misalignment of HR and business strategy
  • Skills obsolescence

 

Talent Practices

 

  • Changing nature of work
  • Talent attraction, retention and engagement
  • Succession and key person risk
  • Conduct and culture
  • Travel and mobility

 

Environmental & Social

  • Catastrophic personal life events
  • Environment
  • Working conditions and labor relations
  • Diversity, equity and inclusion
  • Leadership issues

Expand each section to learn more about the five pillars of people risk that impacts organizations in Hong Kong.

  • Health & Safety

      

     

    86% of risk and HR professionals in Hong Kong say health and safety risks to employees,including further pandemics and workforce exhaustion, are a ‘serious threat to business’.

  • Governance & Financial

        

     

    The management of compensation, employee benefit and retirement plans is becoming increasingly complex and difficult, particularly as costs rise. 83% of Hong Kong firms said this risk category poses a serious threat to business. 

  • Accelerated Digitization

       

    Issues linked to accelerated digitization, ranging from skills obsolescence and cyber security and data privacy risks, are views as a serious business threat by 76% of organizations in Hong Kong.

  • Talent Practices

        

    84% of organizations in Hong Kong view risks linked to talent practices, such as the changing nature of work and attracting and retaining talent, as a serious business threat..

  • Environmental & Social

          

    81% of organizations in Hong Kong say environmental and social risks, such as pressure to improve diversity, equality and inclusion and prepare for climate change, are now a serious business risk.


Explore key risks identified by HR and risk managers by geography and industry

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.

 

Ten out of the ten top risks identified by HR/risk managers globally can be mitigated by employee benefits, support programs and/or how they are delivered – read our report to learn where to start


 

About the report

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.

 

We spoke to more than 100 risk managers and HR professionals in Hong Kong, to see which categories they felt posed the most serious threat to the business. 

2,594

Global organizations

1,314

HR respondents

1,280

Risk respondents


Download the 'People Risk 2022' Hong Kong to find out the top people risks impacting businesses.