Businesses Struggling to Keep Pace With Industry-Shaping Megatrends

According to Aon’s 2024 Business Decision Maker Survey, 72% of business leaders across industries feel they are not keeping up with critical megatrends shaping their sectors. The survey, based on feedback from over 800 business decision makers across the U.S., Europe, and Canada, identifies four primary megatrends: trade, technology, weather, and workforce. Technology and workforce challenges are where businesses face the most difficulties in managing risks, despite the increasing urgency to adapt.

Data and analytics are seen as crucial for addressing these megatrends, yet only a minority of leaders feel fully confident in their data capabilities, particularly in climate-related risks. Additionally, macroeconomic factors like interest rate fluctuations and cash flow issues are complicating the response to these megatrends. To combat these challenges, many companies are focusing on workforce adjustments, cybersecurity improvements, and supply chain resilience, though there is still room for growth, particularly in the areas of weather and climate risk management.