MMB Managing risks for workforce and business resilience | Mercer Canada

It’s never been more urgent to tackle people-related risk. The pandemic left many companies exposed and vulnerable around their people. Understanding and evaluating these exposures is a core priority for business leaders.

Marie-Josee Le Blanc

Partner and Health Innovation Leader at Mercer Marsh Benefits Canada.

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People-related exposures, such as health and safety, governance and digitization have been rapidly rising up risk registers and are gaining increased board attention. In part, this trend has been accelerated as the pandemic clearly showed that threats to the health and well-being of the workforce threaten the overall resilience and success of a business.

Building business resilience by mitigating people-related risks

By hearing first hand from 1,381 HR and risk managers worldwide, including 125 in Canada to get their views, we learned which people risks will have the most severe impacts, and the barriers preventing firms from mitigating them.

Top threats facing organizations

Cybersecurity, talent attraction, retention and engagement, data privacy and workforce exhaustion are the top people-related risks facing workforces today, according to HR and risk managers.

Building a risk analysis framework

The 25-people risks framework can help HR and risk management teams articulate in board-level conversations the consequences of not acting now to manage these exposures.

ERM meets benefits and reward strategies

The pandemic has put workers’ physical, mental, social and financial health in the spotlight, highlighting exposures which can be managed using a risk management framework approach.

Understanding the barriers

HR and risk managers alike said the biggest difficulty in managing people-related risks was that their organization lacked skilled resources to understand and address them.

A shared responsibility

We asked HR and risk managers who had ultimate responsibility for 25 people-related exposures. Responses were mixed, but risk management, HR and senior leadership were consistently

Solutions and practical tips towards mitigating people risk and becoming more resilient.

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