Analysis Across Public and Non-Public Entities

Notable observations

  • The top five risks across the four groups are reasonably consistent. All four groups rank succession and talent acquisition and retention among their top three risks for 2023, with all but private companies with no IPO plans ranking it as their highest risk issue.
  • Economic conditions in markets currently served is the first- or second-ranked risk concern for all but the governmental/not-for-profit entities in our sample.
  • For the most part, macroeconomic and operational risk concerns dominate the 2023 top five risk issues for all organizations.
  • Across the board, risk scores among organizations planning to go public are substantially higher compared with organizations not planning to become publicly held. This is an interesting distinction, as those companies preparing to go public are getting ready for increased stakeholder scrutiny and raising their line of sight on the need for improved infrastructure in many areas. Thus, as the survey results suggest, their sensitivity to risk is higher.
  • There are universal concerns about succession and talent challenges continuing into the next decade, with that issue in the top two risks for 2032 for each of the organization types.
  • The adoption of digital technologies and its implications for reskilling and upskilling existing employees is viewed as the top risk for 2032 by public companies and is ranked second by private companies with no IPO plans.
  • Rapid speed of disruptive innovations enabled by advanced technologies appears as a top five risk for all but private companies with IPO plans (although that risk is identified as “Significant Impact” for these companies as well).
  • Similar to our findings for 2023, private companies with IPO plans have the riskiest outlook for 2032 — and by a wide margin.


December 8, 2022

Executive Perspectives on Top Risks for 2023 and 2032

The level of uncertainty in today’s global marketplace and the velocity of change continue to produce a multitude of potential risks that can disrupt an organization’s business model and strategy on very short notice.