Public Sector

Industry Overview

Public Sector

Digitisation Brings Service Delivery Improvements and New Risks

Public sector organisations continue to embrace new technologies to deliver citizen services and improve governance and public administration. These advancements generate incredible efficiencies and enhance user experiences, but also expose new risks and workforce needs.

For example, inconsistent data controls, immature cyber practices and rising geopolitical risk mean the threat of cyber attacks and data breaches are on the rise. At the same time, due to ongoing reliance on traditional human resources policies and slower career progression, organisations often struggle to attract much-needed technical talent into public service.

As the pace of change accelerates, public sector organisations must adopt new risk and people management strategies to keep up. Resiliency, in all its forms, will be key to these efforts. From establishing stronger disaster recovery protocols to protect physical assets to implementing novel health, benefit and rewards offerings, the public sector has opportunities to boost operational and workforce resilience.

At Aon, our teams have deep experience across all segments of the public sector, and we partner with clients to identify, quantify and manage their risk exposures, design and implement sustainable benefits and retirement programmes, and improve overall employee health and wellbeing.

Top 5 Current Risks

According to our latest Global Risk Management Survey, the biggest risks facing the Public Sector industry include:

  • 01

    Cyber Attack or Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

  • 02

    Damage to Brand or Reputation

    The fallout from a reputation crisis can be far greater than any short-term earnings losses, with some companies losing significant shareholder value.

  • 03

    Failure to Attract or Retain Top Talent

    Companies excel when they have the best possible talent in each role, from the C-suite to the front line. An inability to fill these slots and retain top-performing employees can have serious repercussions.

  • 04

    Regulatory or Legislative Changes

    Uncertainty about upcoming regulatory changes affects business confidence, and companies active in multiple jurisdictions must track and comply with a wide variety of complex laws and regulations.

  • 05

    Economic Slowdown or Slow Recovery

    Global economic uncertainty is being fuelled by geopolitical volatility and unpredictable inflation and interest rates.

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