Dozy at Work: 60% of Indian Employees Report Sleep Deprivation

^Sleep deprivation is a pervasive problem across India, with nearly two-thirds of Indians reporting feeling dozy at work and over a third suffering from insomnia, according to the Great Indian Sleep Scorecard 2023.

The report, conducted by sleep solutions provider Wakefit.co, sheds light on the sleep patterns and trends of Indians, highlighting the detrimental impact of sleep deprivation on employee productivity, health, and well-being.

In recent years, sleep disorders have become increasingly common in India, with many attributing the rise to stress, anxiety, and the proliferation of digital devices. The high prevalence of sleep deprivation among Indian employees has serious implications for workplace productivity and the overall health and well-being of the workforce.

In this article, we will discuss the issue of sleep deprivation in India, as highlighted by the Great Indian Sleep Scorecard 2023, and offer tips for HRs on how to address this issue in the workplace.

Awake in a Sleepy Nation

The Great Indian Sleep Scorecard 2023 highlights a growing sleep crisis in India, with over 60% of Indians reporting feeling dozy at work and over a third suffering from insomnia.

Here are some of the key findings related to the sleep crisis in India:

Late Nights and Digital Devices

Despite the need for healthy sleep habits, over 70% of Indians retire only after 11 p.m. - way past the ideal bedtime of 10 p.m. Furthermore, a whopping 88% of Indians admit to using their phones until just before bedtime, leading to disrupted sleep patterns and reduced sleep quality.

The late-night scrolling of social media and other digital devices has become a major cause of sleep deprivation and fatigue among Indians.

High Sleep Debt and Excessive Daytime Sleepiness

Indian workers are suffering from high sleep debt, leading to excessive daytime sleepiness and reduced productivity. Over 49% of Indians report feeling un-refreshed upon waking up, while 53% feel sleepy at work.

The impact is even more pronounced for women, with 67% reporting sleepiness at work compared to 56% of men.

The Impact of Stress and Anxiety

Stress and anxiety are major contributors to the sleep crisis in India. Over 31% of Indians report waking up in the night to worry about their future, while 35% suffer from insomnia.

The fear factor and stress overload have become major concerns for employees, leading to poor sleep quality, fatigue, and burnout.

The sleep crisis in India has serious implications for employee health, well-being, and productivity.

A Wake-Up Call for HRs

As the sleep crisis in India continues to grow, HR managers have a critical role to play in promoting healthy sleep habits and creating a supportive work environment that prioritizes employee well-being. Here are some tips for HRs to address sleep deprivation in the workplace:

Promote Healthy Sleep Habits

HRs can promote healthy sleep habits by providing resources and support to employees. Encourage employees to set a regular bedtime, minimize exposure to digital devices before bed, and create a calming sleep environment.

Consider offering workshops, seminars, or online resources to help employees learn about healthy sleep habits.

Create a Supportive Work Environment

Creating a supportive work environment that prioritizes employee well-being is essential to addressing sleep deprivation in the workplace. Consider offering flexible work arrangements, such as remote work options or flexible schedules, to help employees balance work and personal responsibilities.

Encourage breaks throughout the day, and consider creating designated nap rooms or relaxation spaces to help employees recharge.

By prioritizing employee well-being and promoting healthy sleep habits, HRs can help employees overcome the sleep crisis in India and improve their overall health and productivity.

Snooze to Success: The Importance of Corporate Wellness Programs

Corporate wellness programs can play a critical role in addressing sleep deprivation in the workplace. By offering evidence-based strategies and expert guidance, wellness programs can help employees build healthy sleep habits and improve their overall well-being.

Here are some examples of how corporate wellness programs can address sleep deprivation:

Sleep Education and Training

Wellness programs can offer workshops, seminars, and online resources to help employees learn about healthy sleep habits and strategies for improving sleep quality.

These resources can cover topics such as setting a regular sleep schedule, creating a calming sleep environment, and minimizing exposure to digital devices before bedtime.

Stress Management and Mental Health Support

Stress and anxiety are major contributors to sleep deprivation, so wellness programs that offer stress management and mental health support can help employees manage these issues and improve their sleep quality.

Programs may include mindfulness training, counseling services, or resources for managing work-related stress.

Fitness and Nutrition Programs

Physical activity and nutrition can also play a role in promoting healthy sleep habits. Wellness programs that offer fitness classes, healthy eating seminars, or nutrition coaching can help employees improve their overall health and well-being, leading to better sleep quality.

With our experience in creating customized wellness programs based on the unique needs of Indian workers, The Wellness Tribe can help HR professionals address the sleep crisis in India. HRs can improve their employees' health and well-being by partnering with The Wellness Tribe.

Rise and Shine

The impact of sleep deprivation on employee productivity, health, and well-being is significant, making it essential for HR managers to take action to address this issue. Healthy sleep habits, a supportive work environment, and a corporate wellness program can help HRs help employees overcome the sleep crisis.

At The Wellness Tribe, we are committed to helping HR managers tackle the sleep crisis in India by offering evidence-based strategies and expert guidance to create customized wellness programs that meet the unique needs of their workforce.

By partnering with us, HRs can take a proactive approach to promote healthy sleep habits, managing stress, and improve employee well-being. Together, we can create a healthier and more productive workforce.

So, take the first step to a healthier, happier, and more productive workforce today. Contact The Wellness Tribe to learn how we can help you implement a customized corporate wellness program that meets your organization's unique needs.

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Riding the Wave of Inflation: A Guide to Investments

^Inflation is a long-term pattern of rising prices across the economy yearly. Inflation rates indicate the rate of erosion of the value of an investment over time as well as the loss of purchasing power. Investing in assets requires a return on investment consistent with their living standard.

To overcome the effects of inflation on your investment, you must have financial planning and knowledge. Here are a few things you should know.

‍Inflation: What Causes It?

Inflation occurs when the demand for an item or service exceeds the supply of that good or service. This is referred to as demand-pull inflation, and it causes price increases.

Inflation is also caused by a rise in the cost of producing products and services. As the cost of manufacturing an item rises, manufacturers raise the selling price in order to achieve or maintain a specified profit. This is referred to as cost-pull inflation.

Here's a chart demonstrating how a lakh's value decreases over time to help you comprehend this better.

‍Financial vs Physical Investment

Physical assets can be felt, seen, touched, or held, such as real estate, precious metals, jewellery, plant and machinery, vehicles, tools, etc. These assets must be maintained, repaired, and upgraded, which can lead to expenses.

An intangible asset, such as shares, bonds, deposits in banks, accounts receivables, goodwill, copyrights, patents, etc., cannot be seen or touched, except for the records proving ownership of the asset, for example, shares, bonds, deposits in banks. The value of financial support does not depreciate or diminish with time. Nevertheless, depending on market conditions, the value of a financial asset can appreciate or depreciate.

‍Asset Classes and Inflation

The value of liquid assets tends to rise less over time than the value of other types of assets since inflation affects them similarly. Because of this, liquid assets are more susceptible to inflation's effects. The larger economy tends to retain fewer liquid assets when inflation rates are high.

Although illiquid assets can generate interest and grow in value, inflation also affects them. Investing in stocks, bonds, and mutual funds is one of the best ways to protect savings against inflation. In times of high inflation, people often spend their liquid assets on consumer goods or invest them in interest-paying assets.

‍Systematic Investment in Equity Mutual Funds

Mutual Funds offer a Systematic Investment Plan (SIP), a means of investing a fixed amount at regular intervals, say once a month or once a quarter, instead of making a lump-sum investment. Instalments could be as low as INR 500 per month and are similar to recurring deposits. Moreover, it is convenient since your bank can give you standing instructions to deduct the monthly amount.

‍Here are some examples of the power of compounding

‍Systematic Investment in Equity Mutual Funds

Three Golden Rules of Investment

Start Early

It is recommended that you start early in order to gain greater financial wellbeing and to maximise your returns on investment. If you allow your investment portfolio to generate returns over time, your returns will essentially create more returns. In technical terms, this is called compounding, proving that even small investments can accumulate into large sums over time.

Invest Regularly

Regularly investing rather than attempting to time a lump sum investment can help you become a more disciplined investor. Ultimately, you must invest no matter how high or low the price is. As a result, investing becomes less emotional, and you can put your money to work more quickly.

Invest for Long Term

The relationship between volatility and time is an advantage of long-term investing. The volatility of investments held for a more extended period tends to be lower than the volatility of assets held for a shorter period. The longer you invest, the more likely you will survive market downturns.

Investments with their risk vs return potential

Conclusion

If the returns on an investor's assets are less than the rate of inflation, even if they show profits, they will lose money. Additionally, individuals should ensure that their income increases at least as much as inflation; otherwise, they are technically earning less than they would otherwise and losing financial stability.

Report: Indian startups reduce full-time staffing by 61%

^India is experiencing severe hiring cutbacks, according to a recent study released on Monday, showing that permanent staff recruitment has decreased by 61 percent over the last 12 months.

From October 2021 to September 2022, data were collected from more than 25,000 Indian workers working at more than 1,000 companies in 20 different industries.

A recent report from Razorpay's business banking platform RazorpayX Payroll reveals a 1,300% decline in hiring for chief experience officers (CXOs).

Due to the changing dynamics of the startup environment, employment trends have changed significantly over the last year.

The Indian startup ecosystem has proven to be robust and adaptable despite recent challenges. Taking macro forces into consideration, entrepreneurs have formed smaller but more powerful teams to maximize their workforce. Many businesses are cutting their workforces in the midst of the financial winter.

Indian Startups Cut 61% off Permanent Hiring: Razorpay Report — Photo by Clem Onojeghuo on Unsplash

Another report from my back-of-the-envelope assessment indicates that startups and major tech firms have laid off more than 5,000 Indians in the last month.

According to some predictions, the Indian economy is anticipated to lay off 16,000 workers by the end of 2022. It seems nobody's job is safe, not even at global behemoths like Twitter or Byju's.

Even though there was a decrease in hiring, the total wage paid to full-time employees increased by 64.7%. It was noted in the survey that the increase in income, particularly among the highest-paid professionals, is not distributed equally between the sexes.

Although employment has declined overall, technology hiring appears to have been the least affected. Technology-related occupations have managed to slightly boost their contributions to the total workforce by 4%, even though the hiring trend has generally slowed down.

A Look at the Gig Economy

It is apparent that companies prefer gig workers over permanent employees as the number of permanent employees has declined. The number of payments made to gig workers has grown by 153% since October 2021. A semi-gig worker model is now being used by 15% more businesses than it was previously.

According to the survey, the majority of semi-skilled gig workers employed by startups earn less than Rs 20,000 per month, followed by those who earn between Rs 20,000 and Rs 40,000.

Interestingly, these employees have among the weakest growth rates, averaging 26% and 52%, respectively.

Research shows that competent gig workers with earnings between Rs 85,000 and more than Rs 150,000 have experienced the fastest growth over the last year, even though they contribute the least to the overall pool.