Business
Global Study: C-Suite execs experienced more mental health challenges than their employees in wake of global pandemic

• The COVID-19 pandemic impacted workers differently depending on their seniority, generation, and location
• C-Suite execs had a harder time adapting to virtual work than their employees
• Gen Z and Millennials workers are feeling the most burned out
• Employees in India, UAE, China and US struggled the most with mental health at work
Mental health challenges created by the COVID-19 pandemic have impacted workers differently depending on their seniority, generation, and location according to a new report by Oracle and Workplace Intelligence, a HR research and advisory firm. The study of more than 12,000 employees, managers, HR leaders and C-Suite executive across 11 countries, found that
C-suite executives struggled to adapt more than their employees, younger generations experienced the most burnout, and that India, UAE, China and the U.S. had the most workers reporting the pandemic has negatively impacted their mental health.
C-level executives have struggled the most with adapting to remote work realities and report they are suffering from mental health issues more than their employees, but they are also the most open to finding help in AI.
• C-Suite execs (53 percent) have struggled with mental health issues in the workplace more than their employees (45 percent).
• C-Suite execs also had the hardest time adapting to virtual lifestyles with 85 percent reporting significant remote work challenges including collaborating with teams virtually (39 percent), managing increased stress and anxiety (35 percent), and lacking workplace culture (34 percent).
• C-Suite execs were also 29 percent more likely to experience difficulties learning new technologies for remote work than employees; once they adjusted to the new normal, C-Suite execs were 26 percent more likely to find increased productivity than employees
• C-Suite execs are the most open to using AI for help with mental health: 73 percent would prefer to talk to a robot (i.e. chatbots and digital assistants) about their mental health over a human compared to 61 percent of employees.
• C-Suite execs are 23 percent more likely to see AI benefits than employees; 80 percent of C-Suite leaders noted AI has already helped their mental health at work.
Gen Z and Millennials are Hustlin’ Harder, Suffering More, and Seeking AI Relief
Younger workers are feeling the most burnout due to the mental health effects of the pandemic and are more open to asking AI for relief.
• Gen Z is more likely to be negatively impacted by the pandemic than any other generation. Nearly 90 percent of Gen Z workers said COVID-19 has negatively impacted their mental health and 94 percent noted workplace stress impacts their home life as well.
• Gen Z workers are 2X more likely than Baby Boomers to work extra hours during the pandemic, and Millennials are 130 percent more likely to have experienced burnout than Baby Boomers.
• Younger generations are the most likely to turn to robots for support: Gen Z workers are 105% more likely to talk to a robot over their manager about stress and anxiety at work than Baby Boomers. 84 percent of Gen Z and 77 percent of Millennials prefer robots over humans to help with their mental health.
• Gen Z workers are 73 percent more likely than Baby Boomers to benefit from AI at work: 90 percent of Gen Z say AI has helped their mental health at work and 93 percent want their companies to provide technology to support their mental health.
Just like COVID-19, the mental health crisis has impacted people differently across the world. People in India and China are being hit the hardest and are the most open to AI support, while workers in Italy, Germany, and Japan are seeing less of an impact.
• India (89 percent), UAE (86 percent), China (83 percent) and the U.S. (81 percent) had the most workers reporting the pandemic has negatively impacted their mental health. Workers in China (43 percent) and India (32 percent) are also the most burned out from overwork as a result of COVID-19.
• Italy reported the lowest number of people experiencing a negative impact on their mental health from the pandemic (65 percent). Workers in Germany were the least likely to report that 2020 was the most stressful year at work ever (52 percent).
• 29 percent of people in Japan say they have not experienced many difficulties at all working remotely or collaborating with teams virtually. In contrast, 96 percent of people in India admit it has been challenging to keep up with the pace of technology at work.
• People in China (97 percent) and India (92 percent) are the most open to having a robot as a therapist or counselor. People in France (68 percent) and the UK (69 percent) were the most hesitant.
• People in India and China are 33 percent more likely to talk to a robot than their peers in other countries: 91 percent of Indian workers and 91 percent of Chinese workers would prefer a robot over their manager to talk about stress and anxiety at work.
Despite seniority, generation and geographic differences, people all over the world agree: The pandemic has negatively impacted the mental health of the global workforce—and they want help.
• 78 percent of workers say the pandemic has negatively affected their mental health.
• 76 percent of people believe their company should be doing more to protect their mental health.
• 83 percent would like their company to provide technology to support their mental health.
“Diving deep into the differences between demographic and regional groups highlights the significant impact of the pandemic on the mental health for employees in various age groups, roles and regions,” said Dan Schawbel, Managing Partner, Workplace Intelligence. “Amidst the challenges of the pandemic, companies can use this moment as a catalyst for positive change in their organizations. While the pandemic raised the urgency for companies to start protecting the mental health of their employees, the efforts they put in now will continue to create happier, healthier and more engaged workforces in the decades to come.”
“The pandemic put employee mental health in the global spotlight, but these findings also showed that it created growing support for solutions from employers including technologies like AI,” said Emily He, senior vice president, Oracle Cloud HCM. “The way the pandemic changed our work routines makes burnout, stress and other mental health issues all too easy. Everyone has been affected in different ways and the solutions each company puts in place need to reflect the unique challenges of employees. But overall, these findings demonstrate that implementing technology to improve the mental health of employees needs to be a priority for every business.”
•Research findings are based on a survey conducted by Savanta, Inc. between July 16 – August 4, 2020. For this survey, 12,347 global respondents (from the United States, United Kingdom, United Arab Emirates, France, Italy, Germany, India, Japan, China, Brazil, and Korea) were asked general questions to explore leadership and employee attitudes around mental health, artificial intelligence technology, digital assistants, chatbots and robots in the workplace. The study targeted people between the ages of 22-years-old and 74-years-old. Respondents were recruited through a number of different mechanisms, via different sources to join the panels and participate in market research surveys. All panellists passed a double opt-in process and completed on average 300 profiling data points prior to taking part in surveys. Respondents were invited to take part via email and were provided with a small monetary incentive for doing so. Results of any sample were subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 0.9 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
Business
Mini-hydro power emerging a more sustainable option than thermal power

Public Utilities Commission of Sri Lanka (PUCSL) analysis shows that the running cost for mini- hydro projects is some Rs 25 million per year, making them a financially sustainable solution for energy generation, in comparison to the extremely high running costs borne by thermal power plants operated by the Ceylon Electricity Board.
A senior official told The Island Financial Review that in the pursuit of sustainable and cost-efficient energy solutions, mini- hydro projects have emerged as a viable alternative, particularly for the private sector. “Small-scale hydroelectric power can be managed effectively with minimal operational costs, he added.
The official noted that mini hydro projects are typically small-scale hydroelectric power stations that generate electricity by utilizing natural water flow without the need for large dams or reservoirs. They offer a reliable source of renewable energy with lower environmental impact compared to larger hydro projects.
The private sector has been actively involved in managing mini- hydro projects, recognizing their potential to provide a stable revenue stream while contributing to clean energy production. “The scale of these projects aligns well with private sector capabilities, as they require relatively lower capital investment and can be efficiently managed by smaller teams, he added.
Moreover, the official said, with advancements in technology and increasing emphasis on renewable energy, mini- hydro projects offer opportunities for public-private partnerships. Incentives such as tax benefits, favorable tariffs, and government support for renewable energy further enhance the attractiveness of these investments.
“Beyond financial feasibility, mini- hydro projects bring several long-term benefits. They contribute to energy security by reducing dependence on fossil fuels and mitigating the impact of power shortages. Additionally, they have minimal environmental disruption compared to large-scale hydroelectric plants, preserving local ecosystems and water resources, he added.
By Ifham Nizam
Business
HNB hosts Women’s Day program empowering 300+ microfinance entrepreneurs

Hatton National Bank PLC (HNB) reaffirmed its commitment to fostering financial inclusion and empowering women entrepreneurs by hosting a corporate event in celebration of International Women’s Day 2025. The program brought together over 300 microfinance entrepreneurs, alongside business leaders, financial experts, and HNB representatives, creating a platform for knowledge sharing and empowerment. The initiative aimed to equip women with the insights and resources needed to drive sustainable business growth and strengthen their entrepreneurial journeys.
Held under the theme of Empowerment and Financial Literacy, the event featured insightful discussions, educational sessions, and an engaging panel on financial management and entrepreneurship. Women entrepreneurs from across the country participated in the event, sharing their experiences and learning from industry experts on how to navigate challenges and expand their businesses.
HNB’s Managing Director/CEO, Damith Pallewatte, addressed the gathering, reiterating the bank’s role in fostering inclusive economic growth and empowering women-led enterprises.
“Today, there is a growing trend of grassroots-level women engaging in entrepreneurship, which is a crucial factor for the country’s progress. Recognizing the importance of empowering women, HNB has taken steps to create vast opportunities for them. Through initiatives focused on financial literacy, empowerment, introducing role models, and strengthening networks, we aim to contribute to the advancement of women and support their journey toward success.”
The event featured a series of expert-led sessions designed to equip women entrepreneurs with the knowledge and tools to make informed financial decisions. A financial literacy program conducted by Keerthi Dunuthilaka, Deputy Director of the Central Bank of Sri Lanka (CBSL), provided key insights on managing and growing businesses. Viranga Gamage, HNB’s Head of Deposits, presented investment options tailored for women entrepreneurs, while Raman Jeikumaar, Senior Manager – Tax & Group Accounting, simplified tax management for SMEs. Dr. Hashi Peiris from the University of Kelaniya delivered an inspiring session on holistic empowerment, and entrepreneur Shamali Wickremasinghe shared her journey to success. Additionally, Sanesh Fernando, Chief Business Officer of HNB Assurance PLC, highlighted the importance of life insurance in securing financial stability for business owners.
Business
‘Sri Lanka’s digital industry: Resilient, adaptive, and poised for growth amid policy shifts’

The digital services sector in Sri Lanka has witnessed new tax measures introduced in the latest national budget, which mark a significant shift in the industry’s financial landscape. While these measures present challenges, the industry remains steadfast in its commitment to growth, innovation, and resilience. The Ministry of Digital Economy, in collaboration with key industry stakeholders, is actively engaging to ensure that Sri Lanka remains a competitive and attractive hub for digital services, both regionally and globally.
The digital sector has long been one of the most dynamic and future-ready industries in Sri Lanka, withstanding economic crises, global downturns, and disruptive technological shifts. Even during the most difficult periods, such as the COVID-19 pandemic and the economic crisis that followed, the industry remained robust, leveraging innovation and adaptability to sustain growth. The introduction of new tax policies, while impacting stakeholders, is being met with a proactive approach by both the Government and industry leaders to mitigate negative consequences and capitalize on long-term opportunities.
A key aspect of the Government’s fiscal strategy has been to ensure a level playing field by requiring all companies—both local and international—to contribute to the nation’s economy through taxation. Historically, non-domiciled digital service providers had an advantage over local companies, as they were not required to pay taxes for services offered within Sri Lanka. This policy shift is expected to generate additional revenue for the Government while ensuring fairness in the market. However, concerns have been raised regarding the potential implications of increased taxation on digital exports and freelancers, as this may encourage relocation of businesses and banking operations to more tax-friendly jurisdictions. Despite these challenges, the Ministry of Digital Economy, in collaboration with key industry organizations, is focused on implementing measures to sustain and enhance the growth of Sri Lanka’s digital economy. Several strategies are being explored to provide relief and long-term benefits to industry players. These include concessionary loan schemes, investment in skill development, improved digital infrastructure, and the creation of IT parks and co-working spaces to foster innovation and entrepreneurship.
-
Foreign News4 days ago
Search continues in Dominican Republic for missing student Sudiksha Konanki
-
Features7 days ago
Richard de Zoysa at 67
-
Features4 days ago
The Royal-Thomian and its Timeless Charm
-
News5 days ago
DPMC unveils brand-new Bajaj three-wheeler
-
Features4 days ago
‘Thomia’: Richard Simon’s Masterpiece
-
Features7 days ago
SL Navy helping save kidneys
-
Sports2 days ago
Sri Lanka to compete against USA, Jamaica in relay finals
-
Features6 days ago
Women’s struggles and men’s unions