Study Looks at Top Productivity Risks Heading Into 2022

The dawn of a new year is a time to reflect on the achievements and struggles of the previous year and a great time to celebrate successes and acknowledge shortcomings. It is also a time to look ahead and plan ahead. While much of this planning will focus on taking advantage of new opportunities, it is also necessary to be pragmatic and take into account the many risks businesses will face in the year ahead.

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The most important threats to business as we enter 2022

International SOS, a risk mitigator, recently released its annual Risk Outlook for 2022 that predicts the most significant threats to businesses, employees and managers by 2022.

Not surprisingly, the COVID-19 pandemic and its additional effects will be at the top of the list of reasons for lower productivity in the coming year. The top five reasons cited by the Risk Outlook Report are:

  1. COVID-19
  2. Psychological health
  3. natural disasters
  4. Transportation concerns
  5. Security threats/civil unrest

The pandemic affects productivity not only directly but also indirectly by increasing the complexity of health and safety management and diverting resources to manage this complexity.

The need for new health and safety measures

The report found that 58% of organizations feel that new health and safety measures will further complicate supporting employee health and security. Furthermore, the report notes that just over a third of US companies see COVID-19 policies in general, and the need to define testing and vaccine policies for COVID-19 more specifically, as a major challenge for the year ahead.

While businesses should always look forward to new opportunities, it is also important not to lose sight of the many risks businesses face now and in the future.

The new year is a great time to take stock of those risks and begin planning risk mitigation strategies. After all, unless the risks are successfully managed, it is very difficult to take advantage of the opportunities available.

Lin Grensing-Pophal is a contributing editor for HR Daily Advisor.

The subsequent study that looks at the most significant productivity risks in 2022 first appeared on HR Daily Advisor.

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