Economic volatility has increased pressure on Singaporean workers with 67% reporting that they are seeing more stress-related illness since the downturn, finds the latest survey from Regus. But businesses can help change this trend as workers identified flexible working as critical to help ease work-related stress (77%).
Stress-related illness can worsen or cause a whole series of health conditions ranging from obesity to heart disease, Alzheimer's disease, diabetes, depression, gastrointestinal problems and asthma.
Building on Regus research last year, which found that 48% of respondents globally felt their stress levels had risen in the past year, this latest study found that over one third (34%) of Singaporean workers are actually losing sleep worrying about work.
The survey, canvassing the opinions of more than 20,000 senior executives and business owners across 95 countries, also found that in Singapore stress is causing a worrying increase in absenteeism (54%) damaging business productivity as well as worker well-being.
The study also found that 34% of respondents are worried about losing their job; and 35% feel less confident about the sector they work in.
About 40% of respondents report that their family and friends have noticed they are stressed by work; and 45% say that stress is damaging their co-worker’s personal relationships.
“Difficult economic times in the West and an unprecedented rate of growth in emerging economies have put a strain on businesses and their employees," says John Henderson, Regional Director and CFO at Regus APAC. "Workers are expected to do more with less, and this has taken its toll to the point many are close to burn-out."
“It’s not surprising that work-related worries and the sleepless nights they cause, are taking their toll on employees’ personal lives. More importantly still, their health is at stake as stress is a known catalyst for a number of serious illnesses. Proactive businesses that address stress in their workforce are likely to end up with a healthier workforce and reduced absenteeism.”