CGP India and SHRM India Announce Study on Impact of Workplace Stress Across Major Industry Sectors
BANGALORE, INDIA (PRWEB) April 26, 2016 -- Chestnut Global Partners India (CGPI), one of the country’s leading providers of Employee Assistance Services (EAP), in collaboration with SHRM India, today announces the results of a workplace stress study of organizations across India in the IT, Finance and Hospitality industries. The report provides insights into the top stressors that negatively affect workforce productivity and the organization’s top line, and, based on an analysis of the findings, lays out best practices and recommendations to help organizations mitigate workplace stress.
Globally, stress at the workplace is considered the number one health risk deterrent to building an engaged workforce and culture. Chronic and life-style related health issues are growing rapidly among the so called ‘Young India workforce’; it is predicted that by 2025, India will have more than 57% of the population suffering from diabetes.
“Our goal was to scientifically measure the impact of stress on the top line of organizations in three of our nation’s fastest growing industry sectors,” said Nobby Nazareth, Managing Director CGPI. “Rising workplace and personal stress, coupled with India’s changing social fabric, has had a direct impact on the physical, mental and emotional health of the workforce at all levels. Partnering in this with SHRM India ensures that the results and our analysis is broadly communicated to HR leaders across the country, who can apply our findings and recommendations in implementing health and wellness programs that mitigate stress, leading to more focused, engaged, and, very simply, happier employees.”
Key Findings
• Disrespect at the workplace is the largest professional stressor for employees; consistent across all Indian industries.
• Top professional stressors include: Lack of work-life balance, overtime, inability to process constructive feedback from manager: 40.2% of respondents show disrespect at the workplace as a high concern, followed by lack of work-life balance (33.3%) and overtime (31.8%).
• Top personal stressors include: financial commitments (number one stressor), inadequate income and inability to manage personal responsibilities.
• Stress caused due to either professional or personal challenges has an impact on both the Return on Investment (ROI) as well as Value on Investment (VOI).
• 27.5% of employees from the Finance/Banking sector have indicated that excessive time spent traveling increases their stress levels.
• Gamification (45.7%) is the most used technological innovation that organizations use to promote Health and Wellness: IT/ITES (45.4%), Travel and Hospitality (51.3%), while the Finance/Banking sector favored social networking or social media (43.4%).
• Online articles/info (33%) are the largest source for deriving information on health and fitness issues across the sectors.
• Stress significantly impacts the top line (for example, stress levels at an IT organization with 10,000 employees was calculated to cost in the neighborhood of US $7-8 million).
“As a fast-growing economy with high levels of competition and multiple global recession cycles, work related stress is becoming more common but less acceptable at Indian workplaces,” said Achal Khanna, CEO, SHRM-India; "Corporations across India are becoming more sensitive to the prevalent health issues and the impact of stress on workplace performance and productivity. We believe that this report will give organizations, a precise idea of what’s at stake, and a roadmap for building a healthier and better prepared workforce”.
An e-book version of the report can be downloaded at http://www.chestnutglobalpartners.in/
About Chestnut Global Partners India (a Subsidiary of Chestnut Global Partners, LLC)
Headquartered in Bangalore, India, Chestnut Global Partners India (CGPI) offers a full range of culturally aware employee assistance and related workplace services. CGPI combines traditional EAP with wellness, disability, high risk maternity, and employee safety and compliance management programs, to promote employee well-being, improve performance and reduce absenteeism.
Chestnut Global Partners, headquartered in Bloomington, IL,provides employee assistance and wellness programs to companies in over 130 countries. Chestnut Global Partners’ Division of Commercial Science develops and deploys scientific assessment technologies, outcome measures, and analytical methodologies so that EAPs, wellness companies, disease management entities and purchasers the world over can determine the effects and/or worth of their programs. For more, visit http://www.chestnutglobalpartners.org
ABOUT SHRM INDIA
SHRM India provides a platform for thought leadership, sharing of best practices and professional networking within the Indian and global HR communities in order to take the profession higher through continuous and collaborative learning. It is a one-stop shop and the go-to resource for solutions and services to handle all people-management challenges. With more than 280,000 members globally, membership is truly a unique offering that provides rich content through comprehensive online resources on both http://www.shrmindia.org and http://www.shrm.org. This huge repository of articles, research papers, case studies and related material on every aspect of HR within the Indian and global contexts constitutes the most current and comprehensive body of knowledge in HR. Supported by a bank of over 50 subject matter experts and internal expertise, the SHRM India Knowledge Center offers cutting-edge resources, across all the key and emerging HR disciplines.These include thought leadership, advisory panels, tools and templates, virtual events, forum and research.
Charles Epstein, BackBone, http://www.backboneinc.com, (561) 470-0965, [email protected]
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