May Edition: Supply chain risk, investing in people and Global Volunteer Month

In this month’s newsletter, we look at how AI-powered insights can help organizations identify unknown risks, how future-focused organizations can invest in their business by investing in their people and how our colleagues are making an impact in their communities.

People Risks

People are a vital part of every business, but for too long employers have taken a narrow view of the risks and factors that threaten to destabilize their workforce and undermine their business. Everything from rising health and benefits costs to labor shortages and cybersecurity has the potential to challenge business resilience and disrupt operations, so it’s vital that employers proactively manage these risks as they plan for the years ahead.

To do so, organizations must understand and mitigate the top people risks and develop proactive strategies to offset them. With data and insights from over 4,575 HR and risk professionals, Mercer Marsh Benefits has identified five pillars of core risks:

• Technological change and disruption. Technology is forging new jobs, delivery channels and products, but it is also introducing new risks and deepening existing ones.
• Talent, leadership and workforce practices. Organizations can only remain competitive if they can recruit and develop the right skills, talent and leadership. However, equally as important is ensuring employees’ needs are met in order to promote thriving and productivity.
• Health, well-being and safety. Employee health and safety is a staple of any people risk agenda, but organizations must broaden the scope of how they define well-being at work.

• Governance, compliance and financial. As inflationary pressures on benefit costs persist, organizations must plan for changes to their benefit programs now. Managing underlying risks and keeping focus on ensuring employees remain well can help to manage claims costs.

• Environment, sustainability and protection. Environmental risks have traditionally been interpreted as related to property, but the potentially catastrophic impact of extreme weather events and natural disasters on the health and well-being of employees and their families is an imminent threat.

When HR and risk professionals collaborate and think innovatively, both people and businesses can thrive. Discover how to identify, prioritize and manage the most critical people risks across your organization.

Take control of the risks you never knew you always had

Supply chains are inherently complex, and with this complexity comes hidden risks and unknown threats to businesses worldwide. But with the rise of AI and powerful data analytics, it’s become increasingly possible to decode that risk, achieve breakthrough outcomes and build real resilience in the face of mounting challenges.

With best-in-market data capabilities and the benefit of over 150 years of risk expertise, the new Sentrisk TM AI-powered platform empowers companies to take control of their supply chain risk. From risk transfer to compliance and financial services, this modular and nimble platform delivers powerful intelligence so organizations can recover faster, protect what matters and report with confidence, whatever tomorrow may bring.

Global Volunteer Month

Each May we celebrate Global Volunteer Month across Marsh McLennan. This year, we are proud to enter our 10th year of the initiative. To celebrate this milestone, thousands of colleagues around the world joined us in volunteer opportunities to support local charities and organizations, connect with each other and give back to the communities where we live and work.

From park cleanups to charity drives and community giving, our colleagues and leaders have been working to make an impact in our communities throughout May. Take a moment to hear their stories of how they volunteer and why they’re so committed to making a difference.

Meet Marsh McLennan

“As my parents are Taiwanese, the absolute best way to honor my heritage is always through food, especially sharing it with colleagues, friends and family.” – Karen Ko, Senior Vice President, AFIC Insurance Leader, Marsh

This month we are featuring Karen Ko, Senior Vice President and AFIC Insurance Leader for Marsh. Based in London, Karen has been with Marsh for nearly seven years, during which time she has pivoted from an experienced legal professional to a dynamic insurance broker, specializing in providing clients with innovative solutions to real world risk. Before joining Marsh in the UK, Karen was a practicing lawyer in Australia for nearly four years, where she focused on contractual and real estate law, as well as general advisory. Outside of work, Karen is a vocal advocate for diversity, equity and inclusion across the insurance industry.

Are you already connected with Karen? If not, check out her profile, follow and connect with her to keep up with her latest work and thought leadership. Find out more about Karen and our other spotlight employees for Asian Pacific Islander Heritage Month here.

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