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The Asian workforce is in a hellish situation

The Asian workforce is in a hellish situation

According to a study by Aon and TELUS Health, 35% of workers in Asia are at high risk and 47% are at moderate risk of developing mental health problems. The survey – conducted in November 2022 among 13,000 workers in 12 Asian locations – also found that 51 percent of respondents are more sensitive to stress than they were in 2021.

Although the pandemic may be over in 2022, workers across Asia have been exposed to many new pressures.

He said no CNBC-To Jamie McLennan, Senior Vice President and Managing Director, Asia & Oceania, TELUS Health.

“These include economic uncertainty, cost of living challenges, rising healthcare costs, climate change impacts and geopolitical instability,” he explained.

South Korea (44%), Malaysia (42%), and Japan (41%) had the highest percentages of workers at risk. According to the report, mental or emotional difficulties, including depression and anxiety, are common among workers across Asia.

There are productivity problems

Asia has a significantly lower risk of lower labor productivity, anxiety, and depression than other parts of the world. In Asia, for example, the labor productivity score is only 47.2 out of 100, while in the United States it is 66.7 and in Europe it is 60.1.

According to McLennan, the stigma associated with mental health is much greater in Asia. More than half of respondents said they would worry about limiting career opportunities if they had a mental health problem and their employer knew about it. The report also found that 45% of workers in Asia believe their mental health affects their productivity at work.

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According to the report, this is a concern for employers as there may be employment costs such as sick leave, long-term disability and employee turnover.

According to the survey, Asian workers are exposed to more financial risks than the rest of the world: about one in three workers have no emergency reserves and say their financial well-being has a significant impact on their mental health.

Those without an emergency reserve are 60 percent more likely to have difficulty concentrating at work than employees who have an emergency reserve.

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