Corporate bosses must know that increasing working hours will not lead to an increase in productivity
By Samudrala VK
At a time when economic inequality has become an indispensable issue that the modern-economic world is trying to address, the 90-hour work-week remark of Larsen & Toubro (L&T) Chairman SN Subrahmanyan brought to the fore the discussion not just about the work-life balance in the age of neoliberalism but also the dark side of the corporate world.
Moreover, his ‘staring at wives and vice-versa’ statement not only reflects the perception of the business class towards human relations but also serves as a testimony of falling standards in India’s corporate world. It is important to remember that the statement cannot be seen as an exclusive one. Earlier, NR Narayana Murthy, co-founder of tech giant Infosys, also made similar remarks regarding work hours and advocated for a 70-hour workweek.
It is also wise to understand that the growing number of calls by business elites for increased work hours and diktats to spend more time at the workplace is the overall perception of the corporate class towards the workforce rather than as individual, independent and isolated statements.
The tendency to exploit the workforce and the phenomenon of income disparity are not just confined to India but also across the world. The exploitation of the workforce for profit maximisation at the cost of human health and the environment has been a fundamental area of discussion in economics since the advent of capitalism.
Free and Fair Play?
Contrary to popular perception, in a neo-liberal atmosphere, the state or a politician acts as a facilitator for businesses rather than as a solid entity that controls and regulates private players or corporate bigwigs. In such an environment, free and fair economic activity that capitalism guarantees is a myth. It is this free hand enjoyed by the corporate class in terms of influencing the state’s decisions that is widening the income disparities.
When government itself is withdrawing from most critical sectors like education, welfare and health, it is hard to expect the corporate class to extend welfare measures to its employees
In an environment filled with economic uncertainty and narrowing profit margins in the post-Covid era, it is a no-brainer to understand the rationale behind the statements in favour of increased working hours. Wages is usually the only domain the corporate class can experiment with to enhance profit as other variables or factors of production more or less remain constant and make it less possible to cut their costs. Hence, it is understandable why business leaders favour long working hours and often resort to either offering low pay or not paying on a par with the working hours.
Increased workload complemented by toxic bosses not only takes a toll on the mental health of the working class but also leads to intense dissatisfaction in their lives. While it is preposterous to expect a strong welfare system for the working class population in an intensely competitive business environment, what bothers the proponents of equitable society is that the physical and mental health of the working class is hardly given a thought by both the state and the business class.
As every relationship is equated in terms of financial value, thanks to the prevailing economic narrative, the values and ideals that once bound individuals together are no longer visible.
Emphasis on Competition
Quality and decent life, improved living standards and dignity of labour are what the neo-liberal economic discourse guarantees to its workforce. In reality, they are replaced with stressful lives, falling standards in terms of physical and mental health and second-class treatment of the workforce. Crude emphasis on competition rather than coordination and collective spirit has derailed the very purpose of life ie, peace, happiness and compassion.
It is vital to understand the flaws in the current discourse centred around ‘competition’, which forms the bedrock of neo-liberal economics. On the one hand, competition nullifies the distinctive abilities and talent of an individual which s/he develops through personal observation, practice and learning, and on the other, it negates the very essence of collective spirit, thereby, forcing individuals to lead isolated and alienated lives.
An ideal economic system imposes higher taxes on the rich and redistributes the benefits to the marginalised and working-class population to reduce income disparities. Ironically, modern-day economies are doing exactly the opposite. They have been imposing multiple taxes on the working class population in one form or the other and benefitting the corporate class by providing incentives and tax cuts under the labels of ‘ease of doing business’ and ‘business-friendly initiatives’.
However, when the government itself is withdrawing from the most critical sectors like education, welfare and health, it is hard to expect that the private sector or the corporate class would extend welfare measures to its employees.
Theoretically, a healthy workforce, both physically and mentally, constitutes the heart of a neo-liberal empire. Not only productivity but also the sustenance and survival of the neo-liberal economy depends on the quality and skilled workforce. It is no rocket science to state here that an overburdened and overstressed workforce proves counterproductive in the long run, thereby deteriorating the overall health of an industry or organisation.
AI and Automation
Recent technological advancements such as AI and automation have added to the problem as they can be used as bargaining chips and threatening tools by the corporate class to persuade the working class to act according to its whims and fancies. To address this imbalance between the capitalists and a working-class population, a strong, yet flexible, trade union is crucial.
As most companies lack labour unions, it gets extremely difficult for employees to put forth their valid concerns and demands before their respective management. This calls for urgent action from working-class individuals, especially those in private firms, to form pressure groups that are vocal about their interests.
The corporate/business class must also listen to the working class in the best interest of an organisation and the capitalist system as a whole.
