CHINA: Stressed out Hong Kong workers seek smoother lifestyle

Money hungry Hong Kong workers find stress and illness a high cost of working long hours Like many financial centres, Hong Kong is a city where making money is of paramount importance. China's economic boom and the city's close ties to the mainland have added jobs and opportunities for workers in sectors ranging from banking to catering. But the cost of long working hours and work-related stress is adding up. Employees say they often feel sick or tired. A growing number of employees now say they want to leave Hong Kong for a more balanced life. "Our research has told us that almost one-third of people would consider leaving Hong Kong because work life balance is bad. So they would consider leaving Hong Kong to go elsewhere for better work life balance. We're also hearing that the impact of the poor work life balance is a direct cost to business," said Shalini Mahtani, CEO of Community Business Ltd. a company which groups together large corporations alarmed at the deterioration of of work-life balance in Hong Kong. A recent survey by the group shows the average Hong Kong employee works 50 hours a week, which is 20 percent more than the number of hours recommended by the International Labour Organisation. Many Hong Kong workers are denied their statutory holiday entitlement of seven days a year. More than 30 percent of the people surveyed across a wide range of industries say they get physically sick due to a heavy workload. Even though Hong Kong people have access to world class facilities ranging from country clubs to gourmet restaurants, many find they have little time to indulge in their favourite activities. As "There is no one silver bullet to fix a whole work life balance issue. I think first thing is for corporate leaders to put the issue on to the corporate agenda and also to listen to employees in terms of what their needs are," said Benjamin Hung, country Head of Consumer Banking at Standard Chartered bank. Standard Chartered bank has introduced a programme calling for all employees to leave the office by 7 pm. Other firms including UBS are introducing extended leave options for new parents. HSBC Bank has set up a nursery near its headquarters so that working parents can be close to their young children. But these efforts are cold comfort to the growing ranks of the city's working poor, who are most concerned with financial security. Hong Kong's lowest income group has seen its pay fall by nearly ten percent from a decade ago. These workers cannot afford to take time off. With the cost of living on the rise, almost half a million people work for less than $650 U.S. dollars a month. ENDS.

ITN Source | October 29, 2007

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