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Forbes
7 days ago
- Business
- Forbes
Work-Life Balance: The New Siren Call For Employees
Bankim Chandra is Director & CEO of Dotsquares. Always committed to innovative solutions and mentoring the next generation in the industry. In years gone by, and especially after key economic or socio-political events, workforces across the world in key and emerging economies have often borne the brunt of reviving economic prospects. This was certainly the case in the 20th century and before (e.g., the Industrial Revolution). But now a new mandate has emerged in the consciousness of these workers: the importance of pursuing the optimum work-life balance. As the term implies, it's about finding an equilibrium between an individual's professional and personal lives. It's about discovering the precious balance between work hours, duties, and other responsibilities and personal time involving family and leisure. In today's world, the worker has shifted from a more manual-intensive focus to the industries that dominate economic output, such as service-based organizations. Even those industries that were once dominated by manual labor now have a huge focus on back-office operations and departments focused on enhanced customer satisfaction and retention. This shift into a more sedentary work profile has helped accelerate the focus on what opportunities might be beyond the office windows. There are, of course, plenty of benefits to adopting this approach. If you achieve that balance, then there are the possibilities of improved mental and physical health. This, in turn, can lead to increased productivity at work, along with higher levels of engagement. That balance will reduce the potential for exhausted workers facing burnout and improve overall workplace retention among employees. If workers are more in tune with their overall health, then an increase in positive workplace culture can often be experienced. This, of course, affects job satisfaction and motivation to accelerate organizational goals. The pandemic in 2020 accelerated this further. As this massive event interrupted labor markets and triggered a shift to flexible work arrangements, people realized that their jobs and work continued regardless of outside factors. The shift in our working environment laid the foundation for what is euphemistically called the 'new normal.' This entails the focus on more flexible work arrangements and challenges the more deeply rooted traditional relationships between employees and employers. Since the pandemic, many workers have adjusted to working from their 'workspace' of choice, be that at home or another remote location. This is a double-edged sword, however. Having come out of the pandemic, that 'new normal' also entails something of a legacy. The pandemic forced many workers to become accustomed to working longer hours, primarily during the pandemic, to keep the organization alive. This has continued post-pandemic, where we see many (not all) remote workers juggling increasing workloads and the expectation to be always 'on.' That delicate balance that was the aim to be attained has been blurred and, in extreme cases, flipped. So, how can that perfect balance be attained in the post-Covid workplace? Several organizations are now walking back from the hybrid working model, and many big names are demanding that workers return to the office far more frequently than they have been, if not permanently. This exacerbates the dilemma when recruiting new talent. Data from Forbes shows that as remuneration rises, so too does the percentage of workers who either have a hybrid work setup or work exclusively from home. Can we deduce that as an individual progresses through an organization that the new panacea is not simply a bigger paycheck but a more harmonious approach to work? In the U.S., "81% of workers said remote work is the most important factor in a job, more than salary," while a staggering "46% of U.S. remote-capable workers would likely quit if remote working was taken away." Complementing that is that over 80% of employers say remote working options are critical to attracting and retaining talent in their organizations. So, we can see that throughout our recent history (or at least since our modern concept of 'work' has been formalized), there have been changes in how we work, often shaped by external events. The idea of work-life balance is something that has gained prominence relatively recently as a greater understanding of all factors both inside and outside the workplace has taken shape. The advent of a major external event, in the shape of the pandemic, has highlighted, in essence, that our concept of 'workplace' has shifted, and anywhere (depending on role) with a good degree of connectivity can be considered. With this firmly at the fore of job applicants' minds, and their knowledge now of the perceived benefits, is it any wonder that the clamor for a work-life balance gets louder and louder? 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Yahoo
11-07-2025
- Business
- Yahoo
Jamie Dimon gets real with Europe about shrinking to just 65% of American GDP over 10-15 years: ‘That's not good'
JPMorgan Chase CEO Jamie Dimon delivered a stark assessment of Europe's economic prospects at an event in Dublin hosted by Ireland's foreign ministry, warning that the continent faces a growing competitiveness crisis. Dimon highlighted a dramatic shift in Europe's economic standing relative to the U.S. 'Europe has gone from 90% of U.S. GDP to 65% over 10 or 15 years. That's not good,' he told the audience, which included Irish officials and business leaders. He attributed this decline to structural issues and urged European policymakers to take bold action to reverse the trend. He added 'the EU has a huge problem at the moment' when it comes to the competitiveness of its economy. Simply put, he said, 'You're losing.' The JPMorgan chief argued Europe's best chance at becoming more competitive is to finish building a truly unified internal market that works seamlessly across all industries. He referenced the report on EU competitiveness written in 2024 by former European Central Bank President Mario Draghi, emphasizing that deeper integration is essential if Europe wants to rebuild its global economic position. While Dimon praised Ireland's open economy, business-friendly policies, and strong education system, he contrasted this with the broader European picture. He described Ireland as a model for economic openness but warned the wider region is hampered by regulatory fragmentation and lagging innovation. Dimon also addressed the importance of transatlantic cooperation, stating, 'America First is fine as long as it isn't America alone.' He called for a new EU-U.S. tariff framework to be completed as soon as possible, warning that escalating trade barriers—such as recent U.S. tariffs on copper, Brazilian imports, and pharmaceuticals—could have significant negative effects, particularly for export-driven economies like Ireland. Dimon cautioned financial markets are underestimating the risks posed by higher U.S. interest rates and new tariffs. He said the market is pricing only a 20% chance of further U.S. rate hikes, but he would put the odds at 40%-50%, citing inflationary pressures from tariffs, migration policies, and persistent budget deficits. He said he thinks there is 'complacency' in markets. Given Dimon's status as an influential voice representing Wall Street, his remarks may serve as a wake-up call for European leaders and investors, underscoring the need for structural reforms and closer U.S.-EU collaboration to navigate an increasingly complex global economic landscape. Dimon's remarks were previously reported by the Financial Times, Bloomberg, and the Irish Examiner, among others. For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. This story was originally featured on
Reuters
01-07-2025
- Business
- Reuters
South Korea factory activity shrinks for 5th month but at milder pace, PMI shows
SEOUL, July 1 (Reuters) - South Korea's factory activity contracted for the fifth straight month in June, though the pace of decline eased, supported by improving domestic economic prospects under the country's new administration, a business survey showed on Tuesday. The Purchasing Managers Index (PMI) for manufacturers in Asia's fourth-largest economy, released by S&P Global, edged up to 48.7 in June, from 47.7 in May. The index has stayed below the 50-mark, which separates expansion from contraction, since February. "Manufacturing output and sales both decreased, albeit at a softer rate than that seen in May, as firms signalled pockets of improvements in the domestic market," said Usamah Bhatti, economist at S&P Global Market Intelligence. South Korea's consumer sentiment reached a four-year high in June, buoyed by political stability following a snap presidential election on June 3 that ended six months of uncertainty, according to an earlier central bank survey. In Tuesday's survey, business sentiment regarding the year-ahead outlook for output rebounded from the previous month to its strongest since May 2024, as firms reported reduced concerns about global economic risks. However, while output and new orders fell at a milder pace, new export orders declined slightly faster due to weaker sales across key markets such as Japan, China and the United States, the survey found. South Korea's new administration, led by President Lee Jae Myung, has pledged short-term measures to support the economy as tariff negotiations continue with Washington. A senior South Korean trade official said on Monday that Seoul will seek an extension to the 90-day pause on U.S. tariffs, set to expire next week, as talks are expected to continue beyond the deadline.
Bloomberg
18-06-2025
- Business
- Bloomberg
ECB's Panetta Says Economic Outlook Faces ‘Substantial' Risks
By and Alexander Weber Save The euro-zone's economic prospects face 'substantial' dangers that officials are struggling to assess, according to European Central Bank Governing Council member Fabio Panetta. President Donald Trump's tariffs, as well as the fighting in the Middle East, mean monetary policy is being conducted 'under conditions of heightened uncertainty,' the Bank of Italy governor said Wednesday in Milan.
Gulf Business
13-06-2025
- Business
- Gulf Business
World Bank warns global growth to slow to lowest pace since 2008 amid trade tensions
Image: Getty Images/ For illustrative purposes Heightened trade tensions and persistent policy uncertainty are set to drag global growth down in 2025 to its weakest level since 2008, excluding outright global recessions, the World Bank said in its latest Global Economic Prospects Growth forecasts have been downgraded in nearly 70 per cent of economies across all regions and income groups, with global output now expected to expand by just 2.3 per cent in 2025 — nearly half a percentage point lower than projected at the start of the year. While the report does not forecast a global recession, it cautions that if projections for 2025 and 2026 materialize, the average global growth for the first seven years of this decade will mark the slowest start to any decade since the 1960s. 'Outside of Asia, the developing world is becoming a development-free zone,' said Indermit Gill, chief economist and SVP for Development Economics at the World Bank. 'Growth in developing economies has ratcheted down for three decades—from 6 per cent annually in the 2000s to 5 per cent in the 2010s — to less than 4 per cent in the 2020s. That tracks the trajectory of growth in global trade… Investment growth has also slowed, but debt has climbed to record levels.' Growth to weaken in 60 per cent of emerging economies The World Bank expects growth to weaken in nearly 60 per cent of developing economies this year, reaching an average of 3.8 per cent in 2025, before slightly improving to 3.9 per cent in 2026–27. That is more than a full percentage point below the average growth recorded in the 2010s. Among low-income countries, growth is now projected at 5.3 per cent in 2025, down 0.4 percentage points from earlier forecasts. Global inflation remains elevated, with price pressures driven by tariffs and tight labour markets; the World Bank projects inflation to average 2.9 per cent in 2025, above pre-pandemic levels. The report warns that sluggish growth will hinder developing economies in their efforts to create jobs, reduce extreme poverty, and close per capita income gaps with advanced economies. Per capita income growth is expected to hit 2.9 per cent in 2025, down 1.1 percentage points compared to the 2000–2019 average. Assuming developing economies excluding China maintain a growth rate of 4 per cent — as forecast for 2027 — it could take about two decades to return to their pre-pandemic output trajectory. Still, the 'Emerging-market and developing economies reaped the rewards of trade integration but now find themselves on the frontlines of a global trade conflict,' said M Ayhan Kose, deputy chief economist and director of the Prospects Group. 'The smartest way to respond is to redouble efforts on integration with new partners, advance pro-growth reforms, and shore up fiscal resilience to weather the storm.' The report encourages developing economies to pursue regional trade agreements, diversify export markets, and liberalise investment policies to counter rising protectionism. It also stresses the importance of domestic revenue mobilisation, targeted fiscal spending for vulnerable populations, and stronger fiscal frameworks. To accelerate growth, countries must improve business environments, boost productive employment, and strengthen labour market linkages. Multilateral support, concessional financing, and emergency relief will be essential for the most vulnerable economies, particularly those affected by conflict. World Bank's regional outlooks (2025 projections) East Asia and Pacific : 4.5 per cent Europe and Central Asia : 2.4 per cent Latin America and Caribbean : 2.3 per cent Middle East and North Africa : 2.7 per cent South Asia : 5.8 per cent Sub-Saharan Africa : 3.7 per cent
