The Top 7 Perceived Risks that Worry U.S. Businesses in 2014
Managing risk is what running a business is all about. Striking the perfect balance between taking smart risks and controlling those that present the biggest threats is the key to success.
When presented with a substantial list of business concerns, owners and executives were asked to select those risks that they believed pose the greatest threat to their businesses. Here they are in order of "total worry."
Medical Cost Inflation
Most businesses identify rising healthcare costs as the single most significant cause for worry. Among the 67% who worry about this risk, 32% worry a great deal.
Increasing Employee Benefit Costs
Many businesses feel that employee benefit cost inflation is intimately related to their top concern about medical cost inflation. Among the 62% who worry about this risk, 29% worry a great deal.
Ranking third on the list is legal liability pertaining to customers and employees, physical and intellectual property, operational environments and more. Among the 58% who worry about this risk, 24% worry a great deal.
Broad Economic Uncertainties
Nearly as many businesses worry about broad economic uncertainty as legal liability. Among the 57% who worry about this risk, 22% worry a great deal.
Cyber risk is a quickly growing concern in the digital age—particularly in the technology and financial industries. Among the 53% who worry about this risk, 18% worry a great deal.
Complying with laws and regulations also concerns about half of all businesses surveyed. Among the 52% who worry about this risk, 22% worry a great deal.
Attracting & Retaining Talent
The ability to attract and retain talent is an emerging concern for American businesses, too. Among the 50% who worry about this risk, 18% worry a great deal.
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Learn More from the 2014 Travelers Business Risk Index