Organisations and their people are operating under sustained uncertainty because of rising cyber threats, rapid adoption of AI and skilled labour shortages, according to 2026 People Risks report by Marsh.
The new report drew upon insights from more than 4,500 human resource and risk professionals across 26 markets. It highlights that technology disruption is driving the top people risks, the workforce-related factors that can amplify or mitigate enterprise risk and impact organisational resilience and performance.
Companies that actively manage these risks are better positioned to gain a competitive edge and 40% of the respondents said that positive outcomes are derived by organisations by successfully managing and mitigating people risks.
A similar number of respondents said by managing these risks they increased workforce productivity and efficiency, and 36% said they achieved faster progress on strategic initiatives such as AI adoption.
Mercer President of Health and Benefits and Mercer Marsh Benefits Global Leader Hervé Balzano said, “People risks cannot be secondary concerns, as they impact the health and well-being of the workforce and the business.
“In 2026, resilience depends on how well organisations invest in their people: building the right skills, supporting health and financial security, and redesigning work so humans and technology can perform at their best together.”
Inadequate cyber threat literacy ranks as the number one people risk globally, underscoring that cyber resilience depends as much on human behaviour as it does on technology. Technology skills shortages, such as those in cyber and AI, follow closely at number three, reflecting a growing gap between digital ambition and workforce readiness.
While organisations continue to invest heavily in AI, the most significant threat may be translating that spending into real productivity, innovation and performance gains. Mindset barriers to AI adoption now rank among the top global people risks. The study found that 40% of HR and Risk professionals are concerned that their organisations are investing in and adopting AI without adequate training and upskilling.
Mercer’s Global Leader for Transformation Services Ravin Jesuthasan said, “AI will only deliver value when organisations rethink how work is done and how people are supported.
“Treating AI as a simple add-on to existing work processes creates real risk and inefficiency. The organisations pulling ahead are those redesigning work, upskilling their workforce, addressing AI anxiety and pairing human judgment with machine capability.”
Labour shortages, particularly in digitally-savvy talent, remain one of the most persistent global threats, ranking second overall and topping the list in industries such as manufacturing, energy, retail and construction. The pressure is particularly acute in ageing and super-ageing societies, where shrinking working-age populations are colliding with a rising demand for specific skills.
Financial insecurity is now a material organisational risk, ranking fourth globally. According to respondents, employees’ rising living costs and debt burdens are directly linked to lower employer retention and engagement, as well as potential misconduct in organisations.
Financial strain also extends to employee health and well-being. Employees continue to delay care due to affordability and access issues, quietly eroding workforce resilience. HR and Risk professionals expect the situation to worsen, with more than half (58%) saying health and benefits costs are almost certain or likely to increase.
Despite concerns about rising benefit costs and growing mental health challenges, HR and Risk professionals are deprioritising health-related risks as they are overshadowed by more immediate concerns.