State of 2022 enterprise risk

The survey identified rising cyberattack levels; talent acquisition and retention; supply chain disruptions and increasing production costs to be the most serious risks facing enterprise organizations today.

Image courtesy of PwC

Cybersecurity

Amid increasing geopolitical tensions and consumer privacy concerns, 40% of business leaders ranked cybersecurity as the number one serious risk facing their companies. It’s not just top of mind for chief information security officers (CISOs) and chief risk officers (CROs) — executives across the entire C-suite ranked cybersecurity as a serious risk. In addition, 58% of corporate directors said they would benefit most from enhanced reporting around cybersecurity and technology.

With growth in mind, executives are increasing investments in digital transformation (53%), information technology (IT) (52%), and cybersecurity/privacy (49%).

Labor shortages

Nearly two-thirds of businesses (63%) have changed or are planning to change processes to address labor shortages, up from 56% in January 2022. Finding the right talent continues to be a challenge for business leaders. Talent acquisition came in second as a risk behind cyber, with 38% of respondents citing it as a serious risk. 

In order to attract talent, companies continue to explore new ways of working, including expanding remote work options for roles that allow it. A large majority (70%) of respondents said they have either implemented this or have a plan in place. That, too, comes with risk, as the increase in remote work also comes with an expanded cyberattack surface for enterprise organizations.

To view the full survey results, click here.