13% Of Chief Executives Plan To Exit Hong Kong
HONG KONG – A survey by multinational insurer British United Provident Association (BUPA) revealed that more than one in ten senior executives plan to leave the Chinese territory in the next 12 months, reported The Epoch Times on Friday (25 November, SGT).
According to the BUPA Global Executive Wellbeing Index 2022, the reason for wanting to leave Hong Kong is that many corporate chief executives here are facing huge pressures in their work, as the city’s economy faces difficulties.
As a matter of fact, 96 percent of C-suite level personnel in Hong Kong shared that they had suffered from mental health problems in the last 12 months. The most commonly cited mental health issues are mental exhaustion or burnout (9 percent), interrupted sleep (9 percent), difficulties in making decisions (10 percent), and mood swings (11 percent).
Making matters worse is that 12 percent of the surveyed chief executives had thought of inflicting harm to themselves or other people. This is significantly higher than the 4.5 percent recorded in BUPA’s survey for 2021.
The top concerns among CEOs working in Hong Kong are recession or economic uncertainty (25 percent), having a work-life balance (27 percent), and achieving their company’s ESG targets (37 percent). The last one is the highest among markets, with the global average for it at just 26 percent. Notably, ESG refers to environmental, social, and governance.
Aside from that, BUPA’s research found out that 89 percent of high-net-worth individuals (HNWI) always worked overtime and did not fully take advantage of their holiday allowance in the past 12 months. In particular, 23 percent of HNWIs worked over 60 hours per week, but the percentage is higher among chief executives with 37 percent of them working more than 60 hours a week.