Cyberattacks and data breaches are the top risks for Irish business, according to a new study.
Aon’s Global Risk Management Survey gathered insights from 2,842 respondents across 61 countries, including Ireland, to identify their most-pressing business challenges.
The study found that 94% of firms in Ireland have a formal plan or are reviewing processes to mitigate against cyber risk.
Amid the current tight labour market, failure to attract or retain top talent has risen eight places from the last survey in 2021 to number five in the top risks identified by businesses in Ireland.
The risk posed by climate change has also risen significantly for Irish firms, up 21 places to tenth in the top current risks.
Supply chain or distribution failure has risen to number three in the current risks facing companies in Ireland.
“The world is more volatile with profound changes in trade, technology, weather and workforce issues impacting companies across Ireland,” said Rachael Ingle, CEO of Aon Ireland.
“From cyberattacks and geopolitical instability to low growth and a tight labour market, leaders in Ireland face an increasingly complex risk landscape.
“The Global Risk Management Survey published by Aon provides an important insight into the top risks facing firms in Ireland and the actions they’re taking to mitigate against their potential impact,” Ms Ingle said.