Business leaders more stressed in PH than peers elsewhere

MANILA, Philippines – Filipino businessmen are more stressed than their international peers, a study showed.

Over half, or 52%, of Filipino business leaders saw an increase in stress level in 2011, slightly higher than the average increase of 41% among international business leaders, according to a forth quarter 2011 survey made by Grant Thorton, the foreign partner of local firm Punongbayan & Araullo (P&A).  

Nearly a third, or 31%, of Filipino business leaders said pressure to reach targets was the major stressor. Other ASEAN leaders reported the same concern.

Marivic Españo, managing partner and CEO of P&A, explained, “Close to home, we had to grapple with government underspending and several natural disasters.” He said the sluggish international economy only added pressure. 

Españo believes business leaders are “still working to recover from the economic volatility of the past few years.” 

The Grant Thornton International Business Report (IBR) report also shows Filipino business leaders are taking fewer vacation holidays, at 11 vacation days, compared to the global average of 14. 

Around 82% of local business leaders take holidays to relieve stress but more prefer relaxing at home.

Around 97% of Filipino leaders reported that they were relieving stress by enjoying entertainment at home. Españo sees this the popularity of staying home to relax as a sign of the family-oriented culture in the Philippines.

Moving forward he hopes business leaders turn to exercise, as they do in Finland, where 92% of leaders reported it as the most popular stress reliever.

He said, “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.”

Data for The Grant Thornton International Business Report was drawn from interviewees with over 6,000 business leaders from across the globe in the last 4 months of 2011. –Rappler.com