Sleep deprivation during Ramadan is far more serious than many managers think, says Ashridge Executive Education.
A survey by the business school of 1,000 executives, from junior managers to C-suite leaders, found that three-quarters of younger workers aged 20 to 34 felt lethargic all the time.
They also reported feeling more stressed, having less energy to socialise with friends and family, and being less able to see things from others’ points of view.
Older employees were more likely to report physical symptoms of sleep loss, such as back pain, impaired vision and increased appetite.
Vicki Culpin, a professor of organisational behaviour at Ashridge, says: “A lack of quality sleep is far more serious than many managers and HR professionals appear to believe. Organisations have a duty of care towards all employees.”
But while Ramadan can exacerbate the problem, Ms Culpin says it is an increasing characteristic of today’s working environment.
“A 24/7 ‘always on’, globally networked and technologically connected business culture and the pressure to be seen ‘performing’ appears to be contributing to a sleep-deprived workforce,” she says. “There is a need to challenge a corporate culture of sleeplessness.”
Irshaad Ebrahim, a consultant neuropsychiatrist and medical director at the London Sleep Centre in Dubai, says sleep loss and poor-quality sleep are equally harmful and both exact a toll, which can lead to “an increase in errors at the workplace, along with decreased productivity”.
The cost is impairments to both decision-making and innovative thinking, he says, and at worst, accidents costing lives and resources.
“Especially during Ramadan, when it’s a given that many will be sleep-deprived, employers should help staff by informing them about the importance of getting sufficient sleep even when fasting,” he says.
For managers with employees fasting during Ramadan, Ms Culpin says just having a conversation with team members will raise awareness of the issues surrounding a lack of sleep.
q&a sleep right and be healthy
Suzanne Locke reveals the toll of not having enough shut-eye during the holy month:
What are the biggest risks?
More than 85 sleep disorders are recognised by the American Sleep Disorders Association, from snoring to sleep apnoea. Up to a third of Americans have symptoms of insomnia. These disorders are associated to numerous illnesses, including hypertension, obesity, depression, attention deficit disorder, heart disease and stroke.
What jobs are most at risk?
Individuals working in safety-critical jobs, such as public transport, hospitals, construction sites and assembly lines involving heavy machinery, should be monitored closely, says Irshaad Ebrahim, a consultant neuropsychiatrist and medical director at the London Sleep Centre in Dubai.
How much do people need?
The US National Sleep Foundation recommends seven to eight hours for those 65 or older, and between seven and nine hours for people in the 18 to 64 age group. But according to a 2013 “bedroom poll” by the National Sleep Foundation, respondents needed an average of seven hours and 13 minutes of sleep to function at their best. They slept six hours and 31 minutes on an average weekday, and seven hours and 22 minutes on weekends – 69 per cent got less sleep on weekdays than needed.
Any quirks?
One in five sleep with a pet, according to the same poll. A third of adults sleep with one pillow, 41 per cent use two – and 14 per cent prop themselves up with four or more.
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The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
