Economic woes forcing private companies to work on weekends: Experts

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More and more private companies are asking their employees to work on weekends. Reuters More and more private companies are asking their employees to work on weekends. Reuters
SummaryMore and more private companies are asking their employees to work on weekends.

More and more private companies are asking their employees to work on weekends owing to stiff competition and tough economic conditions, say experts.

Various factors, such as government holidays on weekdays and falling industry earnings owing to downturn in economy, are pushing an significant number of companies to operate on weekends as losing out to competition is not viable.

According to executive search firm Top Gear Consultants, around 60-70 per cent of the organisations in the last 6-8 months have begun working on weekends to meet the deadlines and targets of the assigned tasks.

"Economic slowdown in addition to foreign clients demands to quickly revert to deadlines has caused a substantially high number of companies to work on weekend," Top Gear Consultants VP-Talent acquisition Vidya Venkat said.

"The major reason for asking an employee to work on a weekend is the competition which every company faces and to achieve the company goals," she added.

As per HR consultancy firm Unison International, this trend has been witnessed in the last six months primarily among the small and mid-size companies.

"This is basically because the pressure has increased on these companies owing to economic slowdown and the industry numbers going down," Unison International MD Udit Mittal said.

"Firms are struggling with numbers due to the economic slowdown so they have to put some extra efforts," he added.

A tight hiring scenario in the economy is an added factor, wherein, the employees are increasingly required to prove their competitiveness in the work place, experts said.

Sectors like IT, foreign corporate banks, investment banks, MNCs, KPOs are required to operate on weekends due to the foreign operations which need services on weekends.

"In most of the cases the front-end sales/pre-sales team/ customer service/operations team are required to work on weekends keeping the business demand in view," Mittal said.

Venkat has attributed the trend largely to the IT sector.

"The IT industry has set up the trend and now it has become an important part of our growing economy, which is demanding 24x7 work culture" she said.

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