And Now 90-Hour Week

Atanu Chakravarty

‘’Capitalism is the extraordinary belief that the nastiest men for the nastiest of motives will somehow work for the benefit of all.’’–John Maynard Keynes.

After a severe backlash on the comment of L&T Chairman S N Subrah- manyan’s controversial remark on 90-hour work week, a spokesperson for L&T came out with a clarification that the remarks were meant to underscore India’s current opportunity for growth, emphasising that this decade is pivotal for the country’s development. So, a 90-hour work week is meant for economic prosperity and benefit of the nation, and ironically in this context, Keynes’ quote is so relevant!

Before going into the details of the statement of the Chairman, it is better to go through the Annexure ‘D’ to the Board Report of Larsen & Toubro. In 2023-24, L&T Chairman got 51.05 cr as salary and allowances, 43% more than last year. But the average salary of common employees is 535% less than the chairman. Mr R Shankar Raman, President, Whole-time Director & CFO got 31.66 cr; the ratio of remuneration of directors to the median remuneration is 331.52. One, Mr A M Naik, Non executive Chairman received 1.69 cr. This reminds one to a recent survey by FICCI and QuessCorp.Ltd that revealed private sector profits have reached a high, while salary growth has remained minimal or even negative. The report highlights record profits in the private sector alongside stagnant worker salaries, which is cited as a key factor behind sluggish private consumption— a crucial driver of economic growth, (Hindu Business line, Kingshuk Sarkar, 06 Jan 2025).

A few months ago, the Co-Founder of Infosys Narayana Murthy stated that in order to increase work productivity in the nation and increase India’s competitiveness, young Indians should work 70 hours a week of labour. Soon after other business tycoons, like Bhavish Aggarwal of Ola, and Sajjan Jindal of Jindal Steel Works Group publicly supported the proposal for a 70-hour work week.

All the recent researchers have found that ‘’elongation of working hours to unbearable limit tells upon the productivity rendering serious health, mental problems of the workmen. Cognitive anxiety, musculoskeletal disorders, sleep disturbances, and severe stress. Associated fatigue created by excess working hours also creeps into other organs affecting the neuromuscular mechanism leading to reduced sensory perception, less attention, reduced ability to discriminate, weakening of muscles, reduced gland secretions, reduced heart beat or irregular heartbeat, and dilating the blood vessels’’.

India already has one of the hardest working workforces in the world. ILO reports that, in 2023, ‘Indians will have the longest average workweek among the world’s ten largest economies’. Only Qatar, Congo, Lesotho, Bhutan, Gambia and the UAE have higher average working hours than India, which comes in at number seven in the world.

A few months ago, the tragic death of a young EY employee reignited the debate on workplace stress. A young employee at Ernst &Young, passed away, allegedly due to work-related stress. In a heart-wrenching letter, her mother addressed the EY India CEO expressing concern over the relentless workload that left her daughter drained, exhausted and overwhelmed. The letter emphasised how late nights and high expectations placed upon the employees, particularly women, can severely impact mental health and personal well-being. Coincidentally, the Indian Institute of Management (IIM) Ahmedabad recently released a report revealing that 67% of women in the workforce struggle to maintain a healthy balance between their professional and personal lives. The report provides critical insights into the pressures women face in the modern workplace and has highlighted the urgent need for organisations to reassess their approach to employee well-being.

The findings also highlighted the role of organisational culture and the absence of support systems in exacerbating the problem. For many women, long working hours, coupled by rigid expectations from employers, leave little room for personal time, leading to feelings of isolation and frustration.

RBI has cautioned the private banks on the high attrition rate which has risen sharply over the last three years to around 25%. According to the report, high attrition increases recruitment and training costs, hampering productivity and efficiency due to the departure of experienced employees. It also impacts employees’ morale, creating instability within organisations. Bankers said that high attrition levels were largely at the lower end. RBI reminded the bankers, that competitive compensation and fostering a supportive workplace culture are critical to ensuring long-term employee engagement.

The 8-hour working day is a product of great struggle, one for which workers had to make immense sacrifices. India’s legalised 8-hour working day came with the 1946 Amendment to the Factories Act of 1934—a result of the bill introduced by Dr Babasaheb Ambedkar as Labour Minister in the Viceroy’s Executive Council. Raja Ram Singh, a CPI-ML MP who is a member of the Standing Committee on Labour, Textile and Skill Development, urged the Union Labour Minister to take measures against anti-labour statements and unfair labour practices by some big companies.

Modi’s four labour codes have provided a fertile ground to violate all the labour laws achieved through long-drawn battles. Ease of doing business is the point of departure of these labour codes that would script new modern wage slavery that has to be halted–come what may.

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Frontier
Vol 57, No. 32, Feb 2 - 8, 2025