Bengaluru is the silicon valley of India, and home for many startups and well-established giants like Wipro, Infosys, and Cognizant. But, the shocking bit is that Bengaluru’s IT sector is reportedly losing Rs. 24,000 crores (USD 3.5 billion) annually with the sole reason being the unhealthy lifestyle of the IT employees.
If you are employed in an IT company, it is not unknown that the job brings with it handsome salaries, yet plenty of stress, unusual office timings, and a hectic schedule – leading to the officials working in IT companies resorting to deal with stress whichever way possible, from binge eating, alcoholism to substance abuse.
Research conducted by RedSeer Consulting
RedSeer Consulting, launched in 2009, is a research and advisory firm. This firm focuses on achieving excellence in the consumer-facing industry. This firm conducts surveys on more than 500 employees working in 10 of the most leading IT companies in Bangalore and 20, 000+ data points.
On analyzing the data collected from the survey, the results showed a productivity loss worth USD 3.5 Bn (INR 24,000 Cr) to IT sector in Bangalore every year, which is ~7% of the total revenue of IT sector in Bangalore (USD 50 Bn).
This study shows that IT employees falling in the age line of 30-40 years, who make up only 35% of the total workforce in the IT sector, amount to the highest share of the cost to the IT sector due to the loss in productivity, which is 42%. On the other hand, IT employees falling in the age line of 20-30 years constitute for a 50% of the total workforce, yet only 30% of the cost to IT sector due to the loss in productivity is borne by them.
Five factors contributing to this colossal productivity loss:
This is the first time any firm has volunteered to calculate productivity loss due to factors health and lifestyle. RedSeer Consulting attributes the cost to IT sector due to this loss on five key points: Physical Inactivity, Emotional & Mental Health, Physical Health, Poor Diet and Substance Abuse.
Physical Inactivity and Emotional & Mental Health make up 50% of the losses, while Physical Health, Poor Diet and Substance Abuse make up the rest of the 50%.
Are you reading, IT guys? It’s time you take control of your life instead of letting it just pass by you. It is necessary to bring about a positive change in your lifestyle: be it a carefully planned diet, an exercise regime or meditation.
It is now crucial that IT companies note these statistics and take a page out of the Indian Railways’ book and conduct emotional and physical strength workshops or adopt other such measures to sort the frenzied lives of their employees.