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Global risk is shifting quickly and companies are doing what they can to adapt to these pivots. Cyber threats, regulatory changes, geopolitical forces and supply chain disruptions continue to test even the most prepared organizations.
And because a single issue can affect operations, finances and reputation all at once, companies need to take a more proactive approach to risk management. Put simply, organizations can’t afford to wait until problems surface; they have to understand their exposures and strengthen resilience before disruptions occur.
To gauge where the biggest vulnerabilities lie, Aon’s new Global Risk Management Survey takes a deep dive into what’s keeping business leaders up at night. Based on responses from about 3,000 global executives, Aon’s report reveals that cyber risk remains the top global concern, followed by business interruption and economic slowdown. Geopolitical volatility also entered the top 10 for the first time, reflecting the growing impact of conflict, regulation and trade uncertainty on business operations.
Rising Risks, Shifting Priorities
Here are the top 10 global risks that are keeping executives across most industries up at night this year and a pro tip from Aon on how to best manage the disruption or issue:
1. Cyber risk. Cyberattacks and data breaches continue to lead the list of global business threats. As digital transformation expands and AI tools become more common, companies face a growing risk of exposure. According to Aon, cybersecurity needs to be managed as a board-level priority that brings together people, processes and technology.
2. Business interruption. Cyber incidents, severe weather and political unrest have become real concerns for nearly all companies. Organizations are testing continuity plans more often and rethinking how they handle localized crises. Aon advises companies to update and evaluate those plans regularly to stay ready for new threats.
3. Economic slowdown. Inflation, rising costs, tariffs and slowing demand continue to put pressure on corporate profits. Aon notes that maintaining strong cash reserves and reviewing capital strategies can help companies manage through downturns and recover faster.
4. Regulatory and legislative change. Evolving rules around sustainability, technology and employment are creating uncertainty for organizations that operate in multiple regions. Compliance teams are adapting to faster reporting timelines and more complex oversight. Aon recommends building flexible compliance frameworks that can shift quickly as new policies take effect.
5. Increasing competition. Companies that don’t innovate or attract top talent risk losing ground. Aon says blending digital tools with workforce development can help organizations strengthen their competitive position.
6. Commodity price and material scarcity. Volatile commodity markets, trade restrictions and extreme weather continue to affect material availability. Some companies are diversifying suppliers or using alternative materials to avoid production slowdowns. Aon reports that spreading sourcing across regions helps reduce exposure to cost spikes and shortages.
7. Supply chain disruptions. Supply chain risk remains high as organizations navigate geopolitical tension, cyber threats, tariffs, trade wars and infrastructure breakdowns. To offset these issues, many companies are investing in better visibility and more flexible logistics networks. Aon emphasizes that transparency with suppliers and diversification of sourcing are key to building resilience.
8. Brand or reputation damage. Issues related to ethics, data privacy or environmental performance can spread quickly online. According to Aon, monitoring sentiment and responding promptly and consistently helps protect brand credibility.
9. Geopolitical volatility. Conflicts, shifting trade alliances and policy changes are affecting where and how companies do business, but Aon says tracking global developments and running regular scenario tests can help organizations stay agile.
10. Cash flow and liquidity risk. Amid economic uncertainty more companies are improving forecasting and focusing on cash discipline to manage expenses more closely. Aon advocates for “strong liquidity management” as one of the most effective ways to maintain financial stability when markets are unpredictable.
Very Few Companies Track Risk
Despite rising volatility, Aon says most organizations remain underprepared: Only 14% of respondents track their exposure to these top 10 risks. This lack of visibility may leave companies vulnerable when disruptions hit.
“The dramatic rise of trade and geopolitical risk highlights a new reality: volatility and uncertainty are now constants for organizations,” said Aon’s Joe Peiser in a press release. “From evolving tariffs to shifting alliances, these forces directly impact organizations’ balance sheets. Building resilience through analytics and scenario planning is essential for navigating this environment.”
