google.com, pub-6370463716499017, DIRECT, f08c47fec0942fa0 AlfaBloggers Best Bloggers Team Of Asia : Compass India Inc
Showing posts with label Compass India Inc. Show all posts
Showing posts with label Compass India Inc. Show all posts

Sunday, 21 October 2012

India Inc under 'stress': Fear of layoff, pay cut and work pressure pushing more employees into depression





To survive in this Global Recession You needs to

- Work more then 12 - 15 Hrs a Day
- Meet deadlines
- Increase Productivity, Speed and Relevancy

Reasons :

- High salaries in Software and Real Estate
- Competition
- Less Demand more supply
- So many new B School


 For close to a year since October 2011, Ashutosh Bhagat (not his real name), 41, vice-president for sales at a leading financial services firm, spent sleepless nights; as a result, he was finding it tough to report to work on time every morning. Otherwise a highly productive and energetic employee, Bhagat's team and co-workers were suddenly finding it difficult to deal with his oscillating bouts of rage and depression.

Medical tests revealed Bhagat had developed blood pressure coupled with mild depression, forcing his immediate superior to sign him up for counselling. Subsequent sessions with the therapist revealed that Bhagat was worried about meeting targets that had recently been revised on the higher side to help his company beat back the economic slowdown.

This pressure at the workplace had snowballed into marital discord as the sales head was spending less time at home to ensure he didn't under-perform; he couldn't afford that - not at a time his bosses were keeping an eagle eye on weeding out deadwood in the system.

Bhagat is one of thousand corporate executives who have become victims of stress triggered by the economic slowdown that has been raging for a year now.

Concerns about the looming threat of layoffs, salaries that are either cut or delayed, and pressures to meet higher targets are conspiring to create a tempest of uncertainty that executives are finding difficult to cope with.

That anxiety is manifesting itself in dysfunctional behaviour at the workplace, and at home too as work-life balance goes for toss.

It's a vicious cycle - the resultant depression and dependence and abuse of addictive substances to cope with the stress only succeed in increasing inefficiencies in the workplace, and worsening the situation at home.

According to estimates by PPC Worldwide, a global provider of employee assistance programmes (EAP), more than 62% of health concerns in India Inc in the year to October 2012 were due to work stress.

Job insecurity has risen from 10% pre-slowdown to 18% and suicidal tendencies rose from less than 1% to almost 5%.

India Inc Responds

"There has been a marked jump in work-related stress in the past one year, which is clearly related to the overall economic uncertainty and slowdown," says Amber Alam, head of operations (India), PPC Worldwide.

But the good news, adds Alam, is that "the stigma around seeking professional help to deal with mental stress and resultant issues has been broken in India. Corporates are comfortable today seeking guidance to help employees deal with work-related stress". To be sure, sections of India Inc acknowledge the increasing levels of anxiety, and are responding accordingly with activities that range from yoga and breathing exercises, to fun activities like movies and sports, to lifestyle coaching sessions, to counselling.

"We have created mechanisms like confidential emotional counselling, which is offered as a gift to employees, and we find them proactively responding to avail of the facility," says Ashutosh Telang, executive vice-president and head-HR, Marico.




Shekhar Gupta
CEO
Capt. Shekhar Gupta [ Pilot, DIAM, M.Ae.S.I., MAOPA [USA] ]
shekhar@aerosoft.in 
Blog : http://shekharaerosoft.blogspot.in/ 

Slowdown clouds darken over India Inc - Rediff.com Business
www.rediff.com/...1-slowdown-clouds-darken-over-india-inc/20110613.htm
Indian companies are already facing a margin squeeze, with operating profit margins and net profit margins in the fourth quarter of the last financial year shrinking ...
India Inc under 'stress': Fear of layoff, pay cut and work ...
economictimes.indiatimes.com/news/news-by-company/corporate-tre…1 day ago
20-10-2012 · Stress triggered by the economic slowdown has created a tempest of uncertainty that executives are finding difficult to cope with.
IIP figures 'indeed serious', point towards slowdown: India Inc
zeenews.india.com/.../economy/...towards-slowdown-india-inc_47439.html
New Delhi: Expressing disappointment over dismal performance of the industrial production, India Inc today said the figures are "indeed serious" and point towards a ...
News about India Inc Slowdown
bing.com/news
India Inc biz confidence slips: Survey
Financial Express·2 days ago  
New Delhi: The business confidence of India Inc has slipped due to short-term economic challenges like European debt turmoil and the US slowdown, a survey has said. According to the Regus business confidence survey,…
India Slowdown Thwarts Carmakers’ Sales Search Beyond U.S
Businessweek·04-10-2012
India Inc under 'stress': Fear of layoff, pay cut and work pressure pushing more employees into depression
Economic Times·1 day ago
Slowdown clouds darken over India Inc - Business Standard ...
www.business-standard.com/india/news/slowdown...over-india-inc/438865
Slowdown clouds darken over India Inc: Surajeet Das Gupta, Swaraj Baggonkar, Priyanka Singh & Shubhashish / New Delhi/Mumbai Jun 13, 2011, 00:23 IST
Sweet chin music for India Inc
zeenews.india.com/exclusive/sweet-chin-music-for-india-inc_5214.html
While the slowdown on the investment side is well known, a new worry is the possibility of a greater-than-expected deceleration in the consumption side of the economy ...
India Inc confronts slowdown from once-heady growth - The Times of ...
timesofindia.indiatimes.com/business/india-business/India-Inc...
18-11-2011 · MUMBAI: Slowing growth, stubbornly high inflation, rising interest rates, political gridlock, gloom in the West and a sliding rupee have conspired to ...
Global economic woes to slowdown hiring in India Inc : India, News ...
indiatoday.intoday.in/story/hiring-in-indian-companies-to-go-down/...
India may have weathered the global economic slowdown well, escaping relatively unscathed till now, but recruitment firms expect India Inc to hit the brakes and go ...
India Inc rewards staff to tide over slowdown - The Times of India
timesofindia.indiatimes.com/business/india-business/India-Inc...
23-07-2012 · MUMBAI: The general sentiment at an organization during a downturn can be draining with discussions surrounding cost control and return on investments ...
IIP spotlights slowdown: India Inc - Indian Express
www.indianexpress.com/news/iip-spotlights-slowdown-india-inc/948223/0
IIP spotlights slowdown: India Inc - Expressing disappointment over dismal performance of the industrial production (index of industrial production - IIP) , India Inc ...
Slowdown hangs heavy on discretionary spends
www.businessstandard.com/india/news/slowdown-hangs-heavy...
After affecting industrial growth and capital expenditure plans of India Inc, slowdown pangs are now reflecting in the performance of some of the leading consumer ...
Related searches for India Inc Slowdown













Experts question Obama's claim that gas prices tied to recession, recovery
Fox News
President Obama's claim during Tuesday's debate that gas prices have doubled since 2008 because the economy was collapsing four years ago -- and the implication that they are higher now because things are better -- left some experts scratching their ...
See all stories on this topic »
Orient Express: It is the recession, stupid
Firstpost
Recession is a great leveller, great enough to level out even the most humiliating racist, casteist, classist differences. What else would explain the U-turn of Paul White and others in the Oriental Express-Tata saga? Consider this: The Tatas had made ...
See all stories on this topic »

Firstpost
Recession drives down national park visitation, study finds
Phys.Org
Recent visitation statistics released by the U.S. Department of Interior already noted the significant decrease in national park visitation—dropping nearly 10 million since 1998 to 278 million visitors—but this is the first study to link the drop to ...
See all stories on this topic »
Letter: Blame Obama for recession, debt? Not according to these analyses
TCPalm
That growth is not achieved through anti-business policies, uncertainty, short range budget fixes, and threats of higher taxes during a recession? During such tough economic times, wouldn't a strong leader have proposed budgets to chart a course out of ...
See all stories on this topic »
Furniture industry optimistic after taking hard hits in the recession
Denver Post
HIGH POINT, n.C. — This year may be a turning point for the furniture industry, which has taken an especially hard hit during the recession as credit was limited and people put big-ticket purchases on hold to pay monthly bills. That's the growing ...
See all stories on this topic »
Is Britain on its way out of recession? George Osborne receives much-needed ...
Daily Mail
Official figures released next week are expected to show the economy started growing again in the third quarter of the year – bringing the longest double-dip recession since the Second World War to an end. Economists are expecting growth of between 0.4 ...
See all stories on this topic »

Daily Mail
US election: In Cincinnati, recession-wracked African-Americans stand by ...
Toronto Star
Take any measure — unemployment, home foreclosure, poverty — and double it: such is the disproportionate price paid by black Americans in the Great Recession. The raw data suggest recession is the wrong word. In this neighbourhood, depression fits ...
See all stories on this topic »

Toronto Star
If US goes into recession, risky assets face abrupt sell-off
China Daily
Wall Street is in correction mode and a number of the leading growth stocks have weakened over the past week. It is notable that the technology sector is coming under intense selling pressure and this implies that businesses are cutting back on spending.
See all stories on this topic »
Founded during the recession, T-Hee Greetings & Gifts is opening its third ...
Dallas Morning News (blog)
Maybe starting a new small business during the recession wasn't such a bad idea for owner Tony Doles. Doles and partner David Farris opened their first store in Dallas at the corner of Audelia and Walnut Hill in 2008. “Yes, we opened just when the ...
See all stories on this topic »

Dallas Morning News (blog)
Pa.'s September jobless rate eclipses national average
Pittsburgh Post Gazette
Throughout the Great Recession, the state's unemployment rate sat comfortably below the national rate. When the country's overall rate hit its high point of 10 percent in October 2009, Pennsylvania was experiencing unemployment of 8.4 percent.
See all stories on this topic »