6 global business threats employers should plan for in 2023

Published January 31, 2023 4:29 PM EST 2 Min Read

If the last few years have proven anything to businesses, it’s that the world is unpredictable — but that doesn’t mean employers can’t prepare for the inevitable wrenches that get thrown into their plans.

Allianz Global Corporate & Specialty (AGCS), a risk consultancy and insurance carrier, released its 12th annual Risk Barometer, a survey of nearly 3,000 business leaders and risk management professionals in 23 different industries and across 94 countries and territories. The survey asked respondents to vote for the biggest business risks they are facing in 2023, and the results are in.

Cyber security threats take the number one spot on AGCS’s Risk Barometer, and have ranked in the top three of business risks for the past five years. Given that cybercrime incidents cost the global economy an excess of $1 trillion per year, it’s not too surprising that respondents are worried about being victims of cyber threats.

“It’s an issue that needs to be addressed as we go forward, especially in small or medium-sized companies where they may not have somebody devoted to cybersecurity,” says Varney. “Ransomware, malware and hacking are starting to spike, and it’s costing companies.”

Deanna Cuadra

Senior Reporter

Deanna Cuadra is a senior reporter at Employee Benefit News. Her work covers healthcare, U.S. policy and reform, challenges faced by women and parents in the workplace and innovation in work culture … Read full bio

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