Business
Global Study: C-Suite execs experienced more mental health challenges than their employees in wake of global pandemic
• The COVID-19 pandemic impacted workers differently depending on their seniority, generation, and location
• C-Suite execs had a harder time adapting to virtual work than their employees
• Gen Z and Millennials workers are feeling the most burned out
• Employees in India, UAE, China and US struggled the most with mental health at work
Mental health challenges created by the COVID-19 pandemic have impacted workers differently depending on their seniority, generation, and location according to a new report by Oracle and Workplace Intelligence, a HR research and advisory firm. The study of more than 12,000 employees, managers, HR leaders and C-Suite executive across 11 countries, found that
C-suite executives struggled to adapt more than their employees, younger generations experienced the most burnout, and that India, UAE, China and the U.S. had the most workers reporting the pandemic has negatively impacted their mental health.
C-level executives have struggled the most with adapting to remote work realities and report they are suffering from mental health issues more than their employees, but they are also the most open to finding help in AI.
• C-Suite execs (53 percent) have struggled with mental health issues in the workplace more than their employees (45 percent).
• C-Suite execs also had the hardest time adapting to virtual lifestyles with 85 percent reporting significant remote work challenges including collaborating with teams virtually (39 percent), managing increased stress and anxiety (35 percent), and lacking workplace culture (34 percent).
• C-Suite execs were also 29 percent more likely to experience difficulties learning new technologies for remote work than employees; once they adjusted to the new normal, C-Suite execs were 26 percent more likely to find increased productivity than employees
• C-Suite execs are the most open to using AI for help with mental health: 73 percent would prefer to talk to a robot (i.e. chatbots and digital assistants) about their mental health over a human compared to 61 percent of employees.
• C-Suite execs are 23 percent more likely to see AI benefits than employees; 80 percent of C-Suite leaders noted AI has already helped their mental health at work.
Gen Z and Millennials are Hustlin’ Harder, Suffering More, and Seeking AI Relief
Younger workers are feeling the most burnout due to the mental health effects of the pandemic and are more open to asking AI for relief.
• Gen Z is more likely to be negatively impacted by the pandemic than any other generation. Nearly 90 percent of Gen Z workers said COVID-19 has negatively impacted their mental health and 94 percent noted workplace stress impacts their home life as well.
• Gen Z workers are 2X more likely than Baby Boomers to work extra hours during the pandemic, and Millennials are 130 percent more likely to have experienced burnout than Baby Boomers.
• Younger generations are the most likely to turn to robots for support: Gen Z workers are 105% more likely to talk to a robot over their manager about stress and anxiety at work than Baby Boomers. 84 percent of Gen Z and 77 percent of Millennials prefer robots over humans to help with their mental health.
• Gen Z workers are 73 percent more likely than Baby Boomers to benefit from AI at work: 90 percent of Gen Z say AI has helped their mental health at work and 93 percent want their companies to provide technology to support their mental health.
Just like COVID-19, the mental health crisis has impacted people differently across the world. People in India and China are being hit the hardest and are the most open to AI support, while workers in Italy, Germany, and Japan are seeing less of an impact.
• India (89 percent), UAE (86 percent), China (83 percent) and the U.S. (81 percent) had the most workers reporting the pandemic has negatively impacted their mental health. Workers in China (43 percent) and India (32 percent) are also the most burned out from overwork as a result of COVID-19.
• Italy reported the lowest number of people experiencing a negative impact on their mental health from the pandemic (65 percent). Workers in Germany were the least likely to report that 2020 was the most stressful year at work ever (52 percent).
• 29 percent of people in Japan say they have not experienced many difficulties at all working remotely or collaborating with teams virtually. In contrast, 96 percent of people in India admit it has been challenging to keep up with the pace of technology at work.
• People in China (97 percent) and India (92 percent) are the most open to having a robot as a therapist or counselor. People in France (68 percent) and the UK (69 percent) were the most hesitant.
• People in India and China are 33 percent more likely to talk to a robot than their peers in other countries: 91 percent of Indian workers and 91 percent of Chinese workers would prefer a robot over their manager to talk about stress and anxiety at work.
Despite seniority, generation and geographic differences, people all over the world agree: The pandemic has negatively impacted the mental health of the global workforce—and they want help.
• 78 percent of workers say the pandemic has negatively affected their mental health.
• 76 percent of people believe their company should be doing more to protect their mental health.
• 83 percent would like their company to provide technology to support their mental health.
“Diving deep into the differences between demographic and regional groups highlights the significant impact of the pandemic on the mental health for employees in various age groups, roles and regions,” said Dan Schawbel, Managing Partner, Workplace Intelligence. “Amidst the challenges of the pandemic, companies can use this moment as a catalyst for positive change in their organizations. While the pandemic raised the urgency for companies to start protecting the mental health of their employees, the efforts they put in now will continue to create happier, healthier and more engaged workforces in the decades to come.”
“The pandemic put employee mental health in the global spotlight, but these findings also showed that it created growing support for solutions from employers including technologies like AI,” said Emily He, senior vice president, Oracle Cloud HCM. “The way the pandemic changed our work routines makes burnout, stress and other mental health issues all too easy. Everyone has been affected in different ways and the solutions each company puts in place need to reflect the unique challenges of employees. But overall, these findings demonstrate that implementing technology to improve the mental health of employees needs to be a priority for every business.”
•Research findings are based on a survey conducted by Savanta, Inc. between July 16 – August 4, 2020. For this survey, 12,347 global respondents (from the United States, United Kingdom, United Arab Emirates, France, Italy, Germany, India, Japan, China, Brazil, and Korea) were asked general questions to explore leadership and employee attitudes around mental health, artificial intelligence technology, digital assistants, chatbots and robots in the workplace. The study targeted people between the ages of 22-years-old and 74-years-old. Respondents were recruited through a number of different mechanisms, via different sources to join the panels and participate in market research surveys. All panellists passed a double opt-in process and completed on average 300 profiling data points prior to taking part in surveys. Respondents were invited to take part via email and were provided with a small monetary incentive for doing so. Results of any sample were subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 0.9 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
Business
AHK Sri Lanka champions first-ever Sri Lankan delegation at Drupa 2024
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
Business
HNB General Insurance recognized as Best General Bancassurance Provider in Sri Lanka 2024
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”