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.

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.