Briefly: It is no secret that the tech trade is among the best-paying sectors within the job market, however with that profitable paycheck comes concern of being laid off, lengthy hours, and excessive pressures, and it is turning many executives to drink and medicines.
A survey of 500 tech execs (administration stage or above) by well being firm All Factors North (APN) exhibits leaders are more and more depressed and anxious about their future, and as such are turning to substance misuse and pharmaceuticals as coping mechanisms.
The tech trade has seen tens of 1000’s of individuals laid off this yr on account of the shaky financial system and overhiring through the pandemic. Amazon alone has laid off over 20,000 staff
Virtually 40% of survey members have skilled elevated nervousness and/or melancholy as a result of these layoffs, whereas 77% say they’ve negatively impacted their well being.
The opposite huge concern for tech execs is the rise of AI. Corporations reminiscent of IBM have said they intend to cease hiring for jobs that may very well be carried out by generative synthetic intelligence, which is predicted to influence 300 million full-time jobs globally. Virtually two-thirds of members say AI enchancment and the considered being changed by a pc have negatively impacted their well being, whereas 31% are fearful an AI will take their job.
Practically 80% of tech staff are utilizing medicines, both below a physician’s supervision or in any other case. 32% mentioned they devour managed substances to carry out higher and address lengthy work hours and excessive stress: 45% use painkillers reminiscent of OxyContin, Vicodin, and Codeine; 34% use stimulants together with amphetamines like Adderall; 36% use antidepressants; 35% use sleeping drugs; and 26% use SSRIs.
Extreme alcohol use was additionally a standard issue amongst members. Half of them admitted to ingesting 3 to 7 alcoholic drinks per day, qualifying them as heavy drinkers. Some mentioned they devour alcohol or managed substances simply earlier than or throughout work, whereas round 3 in 10 have elevated their alcohol consumption as a result of stress relating to layoffs and AI.
“This trade fosters a fast-paced, formidable setting and requires a novel strategy to remedy. It is time for the tech trade to get up and destigmatize substance points so each worker feels snug searching for and receiving the help they desperately want,” wrote APN.
Bloomberg’s Billionaire Index exhibits that every one however two of the richest people on the planet come from the expertise trade – they’ve additionally been making a mean of $14 million per day over the previous six months due to a broad market rally. However for a lot of of these in on a regular basis govt positions, the fact is a job stuffed with a lot stress and fear that it might probably result in prescription remedy, alcohol, or drug use to manage.
