Employees burnt out as potential risks abound in coming year, survey finds
Eight in 10 senior risk professionals predict that burnout will have a significant impact on business in the new year.
This year’s economic and global security rollercoaster ride may have been only the opening act.
“Organizations will have many risks to address in 2024 as instability continues to be a key theme of the global security environment,” said Sally Llewellyn, global security director for International SOS, a multinational health and security risk management company. “The near-continuous pace of crises makes it even more challenging for organizations to navigate. Crisis management teams have been running consistently since COVID, creating a real risk of burnout in this critical function.”
Eight in 10 senior risk professionals predict that burnout will have a significant impact on business in the new year, according to the company’s latest risk outlook report. However, only 41% believe their organizations are prepared to deal with this burnout. The report listed five types of risk to anticipate in 2024.
Permanent crisis. In recent years, as the disruptions caused by the COVID pandemic began to subside, the emergence of the Ukraine-Russia conflict unleashed new waves of supply chain and service disruptions across various industries. Survey respondents emphasize that the perceived risk level for the next 12 months is the highest ever recorded –- 65% believe global risks will continue to grow in 2024 — compounding their crisis management fatigue beyond pre-pandemic levels.
Climate change. One in 4 organizations reported that they already have seen their operations affected by events attributed to climate change, and the second-largest category out of the thousands of alerts issued by International SOS in 2023 was extreme weather events. This comes as only half of respondents say they have factored climate change into their health and security plans, emphasizing how vulnerable many organizations could be.
Global instability. The second-highest security concern identified by respondents in this year’s survey revolves around geopolitical tensions. Three in 4 respondents believe their organizations will face significant impacts in the coming year. The unpredictable nature of these events highlights the need for businesses to adopt robust security measures, proactively navigating the challenges arising from the dynamic global geopolitical landscape.
Artificial intelligence. AI has the potential to create a new industrial revolution. However, for now, it further complicates the vital task of sorting reliable information from misinformation and deliberate disinformation. More than 2 out of 5 respondents say they are worried about the effect of medical misinformation and disinformation on their workforces.
Employee expectations. The era of offering only basic occupational health services for work-related conditions is over. Although still essential, occupational health provisions must be enhanced with diverse support and interventions to safeguard and nurture employees globally.
Related: New report finds employee burnout reached 57%
“Being proactive regarding risk management will be key as many surveyed expect the risks companies are facing to increase in 2024,” Llewellyn said. “Partnering with other organizations or experts can help organizations understand which risks — and their second- or third-order impacts — they are most likely to face based on geographic reach, industry or travel patterns. Forewarning enables organizations to proactively plan for or mitigate likely risks.”