All work and no play makes Johnny... a typical businessman.
According to a worldwide survey by business advisory firm Grant Thornton, stress levels among business leaders have doubled in the last year. Stress levels are highest in Taiwan for the second consecutive year. China, the Philippines, Botswana, Hong Kong, Singapore and South Africa are close behind.
Stress levels are closely linked with vacation allowances. Business leaders in East Asia took little time off, while the decidedly more relaxed Europeans took plenty of time for R'n'R.
"Keeping up with fast growth or combating recession are both equally stressful," commented Grant Thornton partner Andrew Godfrey, "although Asian business leaders are under particular strain, as their businesses and markets continue to show phenomenal growth."
Stressed Out Business Leaders
Stressed Out Business Leaders
Trend Themes
1. Rising Business Leader Stress - As stress levels continue to double, businesses can incorporate mental health support programs as a new trend to address this growing concern.
2. Vacation Deprivation - Offering more generous vacation benefits or unlimited leave could be the solution to reducing business leaders' stress levels.
3. Global Work-life Balance - With stress levels highest in Asia, businesses should re-evaluate work schedules and explore flexible work arrangements to maintain work-life balance.
Industry Implications
1. Corporate Wellness - Companies in the wellness industry can capitalize on the rising interest in mental health support programs for business leaders as an opportunity to expand their services.
2. Hospitality and Travel - With vacation allowances closely linked to stress levels, the hospitality industry can appeal to business leaders in East Asia and other stressed markets by offering unique vacation experiences.
3. Technology and Remote Work - Technology companies can innovate by developing new solutions to help business leaders work remotely, reduce stress levels, and maintain work-life balance.