Malaysian business owners the 7th most stressed in the world, reveals global study
20 February 2006. Owners of medium to large enterprises (MLEs) in Malaysia are found to be the 7th most stressed in the world, according to a global business stress index released today from the 2006 Grant Thornton International Business Owners Survey (IBOS).
Research among more than 7,000 business owners in 30 countries around the world shows that 57% of all business owners reported higher stress compared to 39% in 2004. Top of the stress table are business owners in Taiwan (89%), followed closely by other countries with fast-changing economies: China (87%), Philippines (76%), Botswana (74%), Hong Kong (69%) and Singapore (67%). Malaysia tied with South Africa at the 7th spot at 65%.
Sweden recorded the least stress level at only 24%. Without a doubt, the least stressed business people this year are to be found in Europe and the US, although stress levels there have also risen dramatically.
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Interestingly, the research also showed a direct correlation between stress and the amount of holiday taken by executives around the world (excluding public holidays). East Asia continues to be the most stressed region of the world, with the majority of business leaders in East Asia suffering from a high stress increase in 2005, possibly as a result of the poor holiday allowance or for not fully utilising the allocated annual holidays. Coming in at the bottom of the league are Thailand with just 4 days holiday on average, Taiwan (8 days), Malaysia and Turkey (10 days). European countries took by far the highest number of holidays on average (22 days) compared with just 12 days in East Asia. Top of worldwide holiday league table is France, with an average of 27 days.
“The direct link between stress and holidays is fascinating. Do the results mean that executives who take more holidays feel less stressed? Or is it maybe that the less stressed they are, the more holidays they feel they are able to take? Either way, the differences in holiday patterns around the world are huge, with Europeans clearly getting the most out of their personal time. However, it is important to note that we have much more public holidays than our European counterparts, which including our annual leave, are actually comparable to the number of holidays taken by them,” said Dato’ N K Jasani, Managing Partner of Shamsir Jasani Grant Thornton. Dato’ Jasani pointed out that the survey result reflects the need for our top executives to fully utilise the allocated annual leave. The high stress level may also be due to our Malaysian or Asian tendency of “worrying about work whilst on holiday”. Malaysians in general, he said, may therefore need to emulate the European style of separating work worries from leisure whilst on holiday. |
He also questioned whether the European model of long holidays is sustainable in the long run, especially with the East Asia countries moving up the knowledge and productivity ladder.
Other factors which contributed to stress in some countries included business travel and fears over job security. Business travel is most stressful for Indian executives, with 41% claiming it to be very or extremely stressful. In this context, Malaysia ranked 5th globally along with Turkey and South Africa at 18%. For concerns over job security, Japan and Thailand jointly topped the league with 49% of the respondents claiming it was a high or extreme factor, with the least stressed being executives in Sweden (7%). At 25%, Malaysian business owners are found to be only moderately stressed where job security is concerned.
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