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Mercer Marsh Benefits

People Risk Report 2024

People risks are financial risks. This report, with data and insights from over 4,575 risk and HR professionals, including more than 100 in Philippines, can help you manage the top people—and business-related risks.

98% of People Risk 2024 respondents reported collaboration between risk and HR managers, but they do not align on several risk priorities.

Philippines is facing an increasing health and benefit costs as its top risk, fuelled by inflation, straining organisations’ ability to offer competitive compensation and benefits.

In the People Risk 2024 Report, we identified 25 key risks as well as blind spots from survey respondents and grouped them into five pillars to enable risk and HR managers to mitigate people risks effectively across their organisations. 

Are you ready to explore the top people risks and strategies to mitigate them?

Key findings

Click to learn more about the five pillars of risks:
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Governance, compliance and financial

  • Driven primarily by inflation in the Philippines, increasing health and benefit costs has become a leading risk. 

Health, well-being and safety

  • Healthcare system deterioration and unsafe working conditions rank high in Philippines, even though it is not amongst top 10 globally / in Asia. It is recommended for employers to play an active role by investing in the health and productivity of their workforce, in collaboration with medical partners/vendors and/or insurers.

Talent, leadership and workforce practices

  • While this risk emanates from various factors like rapid economic growth outpacing labor supply, the Philippines’ workforce landscape is primarily vulnerable to inflation and skills mismatch.

Technological change and disruption

  • As the top overall risk in 2022, cyber security and data privacy continues to be of concern in Philippines for HR professionals and risk managers. Implementation of new technology without transforming how employees work is an area of concern.

Environment, sustainability and protection

  • Minimising benefit disparities is a top sustainability and protection concern. Regarding environment-related risks, with Philippines prone to climate-related hazards, employers need to take into consideration climate issues as part of their benefits agenda.

Explore the top 3 risks by region and industry

We captured the top trends across 8 regions and 12 industries so you can explore where they align and how they differ. Download the report to gain a deeper understanding of the 25 people risks, their implications, and actions for your organisation and workforce.

People are an organisation’s most important strength, but if not managed properly, can bring significant risks to a business.

Use the People Risk 2024 Philippines snapshot to prioritise and mitigate the most critical people risks across your business:

  • Identify risks with the greatest impact on your workforce.
  • Discover risk blind spots.
  • Get strategies to mitigate risks identified in the five pillars.
  • Learn from case studies to proactively manage risks.

Get the Global Report

Get global insights to refine your workforce strategy and risk management approach for your business.

Gain Philippines-specific insights

Get a quick look at the key findings from respondents in Philippines, which provide actionable insights for managing people risks in your organisation.