Organizations and their people are operating under sustained uncertainty because of rising cyber threats, rapid adoption of artificial intelligence (AI), and skilled labor shortages, according to the 2026 People Risks report released by Marsh, a global leader in risk, reinsurance and capital, people and investments, and management consulting.

Drawing on insights from more than 4,500 HR and Risk professionals across 26 markets, the report highlights that technology disruption is driving the top people risks, the workforce-related factors that can amplify or mitigate enterprise risk and impact organizational resilience and performance.

Companies that actively manage these risks are better positioned to gain a competitive edge. When asked about the positive outcomes organizations realized by successfully managing and mitigating people risks, 40% of respondents said they increased workforce productivity and efficiency, and 36% said they achieved faster progress on strategic initiatives such as AI adoption.

“People risks cannot be secondary concerns, as they impact the health and well-being of the workforce and the business”, said Hervé Balzano, Mercer’s President of Health and Benefits and Mercer Marsh Benefits’ Global Leader. “In 2026, resilience depends on how well organizations 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”, Hervé Balzano added.

Inadequate cyber threat literacy ranks as the number one people risk globally, underscoring that cyber resilience depends as much on human behavior 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.

Labor 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 aging and super-aging societies, where shrinking working-age populations are colliding with a rising demand for specific skills.

Financial insecurity is now a material organizational 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 organizations.

Organizations that report more advanced approaches to managing risk also consistently report having more effective people risk mitigations in place. Additionally, the report shows, companies with strong collaboration between the Risk and HR functions have significantly more effective risk mitigations in place today — translating into stronger decision-making and greater stability.