MOST executives of multinational corporations (MNCs) in Singapore are more stressed today than a year ago - no thanks to an ever-increasing workload, says a report.
Worst off are executives in two sectors, according to human resources consultancy Hudson, which polled 682 executives in six sectors in February.
They are consumer-driven industries, such as retail; and the health-care and life sciences sector.
Six in 10 of their executives are feeling the pressure of work compared to the overall average of around 52 per cent for all executives.
Rising rents and wages are blamed for the constant anxiety of retail managers.
Said Ms Lau Chuen Wei, executive director of the Singapore Retailers Association: 'Retailers tell us that each time their shop lease is up for renewal, they could face a double-digit increase in rent, which is phenomenal.
'With wages rising, their profits are being squeezed,' she added.
Mr David Ang, executive director of the Singapore Human Resources Institute, traced the heavy stress in the health-care and life sciences industry to a shortage of suitable staff.
He said many jobs in the industry require specialised skills, which take time to develop. 'There is a general shortage of talent as scientists or doctors can't be cloned overnight,' he added.
Overall, four in 10 managers blame the rapid rise in work volume for their extra stress.
Other stress-causing factors are: Not being given enough resources to do their daily work (15 per cent) and long working hours (9 per cent).
The single most effective means of relieving stress is policies that encourage work-life balance, such as flexible work arrangements and gym memberships.
Almost 20 per cent of the executives put this option first.
Focusing on what's essential was mentioned by 18 per cent as the best way to ease stress, while 17 per cent cited hiring more staff.
As for the employment plans of their companies, 56 per cent of the executives expect more staff to be hired between April and June this year.
MNCs in the IT and technology sector are most likely to hire in this second quarter, with 62 per cent predicting their headcount will go up.
Compared to last year, more companies are also expected to increase their staff numbers, says the Hudson report.
