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Cyber threats are increasing, global trade patterns are shifting and extreme weather is testing supply chains. Risks that once operated independently now overlap in ways few could have predicted. The challenge is real, but so are the opportunities for companies that adapt quickly and think ahead.
Aon’s new Global Risk Management Survey reveals major changes in the operational risk landscape. Cybersecurity remains the top concern, for example, but geopolitical instability, climate exposure and workforce pressures are all moving up the list.
“We’ve entered a new era of disruption shaped by technology, trade, weather and workforce change,” the global professional services and risk advisory firm notes in the report. “Organizations that connect these risks across their business will be better positioned for the future.”
Don’t Ignore the Overlap
The connections between risks are getting harder to ignore. Cyber incidents now affect trade routes, for example, extreme weather impacts production and global politics can disrupt everything from sourcing to sales. Aon says these risks don’t happen in isolation anymore. They stack up, overlap and hit faster than before.
“These top risks are systemic and interconnected,” it says. “Technology, geopolitics, climate and workforce pressures now influence one another in ways that demand a more integrated approach to risk management.”
For companies managing global operations, the message is clear: Risk silos are gone. Technology, trade, weather and workforce issues are converging fast, and the organizations that plan holistically will have the best shot at staying ahead.
Six Risk Factors to Watch
Aon’s survey highlights the key forces shaping how companies operate, invest and plan for the future. Each one presents a potential threat, but also an opportunity for organizations that stay flexible and forward-looking. Here are six that all companies should be watching and responding to in 2025:
1. Cyber risk. Still the top concern globally, cyber threats continue to expand beyond IT departments. Rapid adoption of artificial intelligence (AI), automation and cloud platforms has multiplied exposure points. Aon warns that “the scale and complexity of attacks are increasing” and pushing companies to integrate cyber resilience into both strategy and culture. “Organizations that integrate cyber awareness into their culture and strategic planning, use AI for both cyber defense and innovation, and implement comprehensive business continuity plans,” it adds, “are better equipped to create value and sustain resilience.”
2. Market volatility. Trade tensions, conflicts and shifting alliances are reshaping global markets and making them more unpredictable. Aon says companies that can read market signals early and adjust quickly will be in the strongest position.
3. Supply chain disruption. Closely linked to geopolitical and climate risks, supply chain disruptions remain a costly and recurring problem for many organizations. Some viable solutions include more diversified sourcing efforts, building regional resilience and using data analytics to anticipate choke points before they happen.
4. Climate and weather risk. Climate change has moved from a long-term issue to a financial reality. In fact, Aon estimates insured losses from weather-related events hit $100 billion in the first half of 2025 alone. Integrating climate modeling into investment and location planning is now a core business need, it notes, and is no longer just a compliance exercise.
5. Economic and competitive pressures. As markets shift and costs rise, competition has jumped from number 10 to number five on Aon’s global ranking. Rising costs and tighter margins continue to test profitability, it says, and many organizations are rethinking pricing, sourcing and production strategies.
6. Workforce and talent challenges. Talent shortages and higher labor costs are impacting most industry sectors right now. And while this risk didn’t rank high on its list this year, Aon describes workforce risk as an “underrated driver of financial loss” and says companies that invest in skills, data and culture alignment have the best chance of staying competitive. “Human resources (HR) leaders should be involved in all core areas of a company’s strategy so that workforce-related risks and emerging trends can be assessed and mitigated at an enterprise level,” Aon advises.
Managing the Changing Dynamics
Looking ahead, Aon expects the business landscape to remain dynamic, but the power to lead change—not just respond to it—is within every organization’s reach. “By building resilience on a foundation of insight, agility and collaboration,” it concludes, “today’s business leaders can turn disruption into a catalyst for long-term success.”
