The Hindu Business Line : Stress levels of business leaders in emerging economies up: Grant Thornton

On record
Study took opinion of 7,200 privately owned businesses in 32 countries.
Europeans work fewest: 50 hours/week; Argentina longest: 57 hours/week.
Philippines showed greatest reduction in increase of stress (12 per cent).

Bangalore June 5 Are the business leaders of emerging economies sweating it out more than their peers in the developed countries?

With globalisation, stress levels in these regions seem to have risen as compared to Europe.

India, though trailing China (84 per cent) in the stress level of business leaders, still recorded a high rate at 79 per cent and led Russia by three points. Taiwan, with 82 per cent, jostled with China in the stress league table.

According to a Grant Thornton International Business Report (IBR) research covering the opinions of 7,200 privately owned businesses in 32 countries, 56 per cent of business leaders worldwide feel their stress levels have increased in the last year.

But business leaders in Europe are the least stressed, with just 27 per cent of Swedish business owners reporting an increase in stress levels, followed by Ireland (35 per cent) and the UK, the Netherlands and France (all 37 per cent).

European Union and North American Free Trade Agreement regions show an average of 43 per cent, claiming increases in stress, compared to 73 per cent of respondents in East Asia.

Lower increase

Last year, all countries reported a rise in stress but this year two-thirds of respondents reported a lower increase with the Philippines showing the greatest reduction in the increase of stress level at 12 per cent followed by Ireland (11 per cent) and Japan and Mexico (both 10 per cent).

Business leaders around the world work on an average 53 hours a week with Europeans working the fewest (50 hours), followed by respondents in East Asia (53 hours) and NAFTA (54 hours).

Their counterparts in India and Argentina topped the table with 57 hours a week, followed by Armenia, Australia and Botswana (all 56 hours).

Italian business leaders work the least number of hours (47 hours) in the world, followed by Sweden, the Netherlands, Ireland and Spain, all on 48-hour average working weeks.

Mr Vishesh Chandiok, National Managing Partner, Grant Thornton India, said: "Stress levels are continuing to rise around the world, with particular concern for business leaders in the emerging economies of China, India and Russia.

"The stress levels appear to be a reflection of the pace of growth in these economies and of the longer hours worked by business leaders in these countries as they strive to take advantage of domestic and global economic expansion."

Globalisation offset

He adds: "Globalisation and increasing technological advances have increased the pressure on business leaders to "always be contactable" and this appears to be having an increasing strain on their lives.

The challenge for business leaders is how they can improve modern working practices to allow time to "switch off" from the strains of increasingly demanding business lives, while remaining competitive."

Mr Alex MacBeath of Grant Thornton International stated: "The shorter working week in Europe is reflected in the lowest rise in stress levels worldwide, suggesting that European businesses are perhaps leading the world in managing work-life balance and quality of life.

More Stories on : Marketing Research | Economy | Human Resources

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Turner, Reliance Comm in pact

BBC's infotainment updates on Radio One

Tata Motors' check-up campaign

UniverCell ropes in actor Madhavan

Stress levels of business leaders in emerging economies up: Grant Thornton

Future group bets on Brand Factory

Seabuckthorn Indage forays into mineral water segment

Sharp unveils large sized high definition LCD display