SAYS
MANILA, FEBRUARY 9,
2012 (INQUIRER) By: Doris C. Dumlao - Don't ask Filipino
businessmen if it's more fun in the Philippines.
They're not having much of it.
Results of an international research released the other day said more
Filipino business leaders were stressed out compared to their foreign peers
toward the end of 2011 in the face of, among other things, government
underspending and the adverse effects of an international financial crisis.
On a global basis, the levels of stress felt by business leaders posted the
most notable improvement since 2005 but those who felt better off in the
Philippines improved only slightly, according to a research of 6,000 businesses
by the Grant Thornton International Business Report (IBR).
Based on the results released by the Grant Thornton local member firm,
Punongbayan & Araullo (P&A), 41 percent of business leaders worldwide
reported an increase in stress levels in the final quarter of 2011 compared to
56 percent the previous year.
In the Philippines, however, the numbers decreased by only three percentage
points—from 55 percent in 2010 to 52 percent in 2011.
Pressure to hit targets
Asked about their specific and major sources of stress, 31 percent of
Filipino business leaders cited the pressure to reach their targets—the same
concern that topped the list of stressors globally and in the Southeast Asian
region.
"When we looked at stress levels two years ago, there was a significant
improvement from 2007 and we attributed that to the expected rebound from the
2008 financial crisis," Marivic Españo, P&A managing partner and chief
executive officer said in a press statement.
"What the latest results tell us is the expected turnaround may not have
happened quite the way business leaders expected," Españo explained.
Dealing with stress
"Close to home, we had to grapple with government underspending and several
natural disasters, and then overseas, there's the European debt crisis and the
sluggish recovery of the US economy. Surely these factors would stress out
business leaders who are still working to recover from the economic volatility
of the past few years," Españo said.
The good news is Filipino business leaders have ways of dealing with the
tension.
Asked how they relieve stress, an overwhelming majority of Filipinos cited a
number of options for relaxation.
Ninety-seven percent of all local business leaders polled said they preferred
to stay in and find entertainment at home, while nine out of 10 said they made
sure they kept a regular work pattern and delegate work to others.
Furthermore, 82 percent of local business leaders said they took holidays to
relieve stress.
Nothing beats family
Even so, the Philippines ranked among the countries that took the fewest
number of vacation days—11 compared to the global average of 14 days.
Españo thus suggested that local business leaders must turn to sports to
relieve stress.
"It's encouraging to see that our business leaders have found several ways to
mitigate the effects of stress. I think we can point to our family-oriented
culture for the popularity of staying at home as a relaxing option," she said.
"But moving forward, it would probably be good to see an increase in business
leaders who are turning to exercise and sports as a stress reliever. In Finland,
for example, it's the most popular stress reliever at 92 percent.
Healthy way to recharge
Not only is it a healthy way to recharge, it will also help the executives
stay fit for what will continue to be challenging times for the business
community."
The Grant Thornton IBR provides insight into the views and expectations of
over 11,500 businesses per year across 40 economies.
The survey draws on 20 years of trend data for most European participants and
nine years for many non-European economies.
The data for the survey were drawn from interviews with 6,000 business
leaders across the globe conducted between September and December 2011.
Chief News Editor: Sol Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE NEWS ONLINE
All
rights reserved
PHILIPPINE
HEADLINE NEWS ONLINE [PHNO] WEBSITE
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