Analysis of Wellness and Wellbeing of Bankers in Bangladesh

Overview of the Banking Sector in Bangladesh: Bangladesh's banking sector, comprising public, private, and specialized institutions, is a cornerstone of the economy. Rapid digitalization and financial inclusion initiatives have driven growth, but challenges like non-performing loans, regulatory scrutiny, and competitive pressures persist. The sector employs a significant workforce, with varying conditions across public and private banks.

Key Dimensions of Wellness and Wellbeing:
Physical Health
-Work Environment: Prolonged screen time, sedentary lifestyles, and ergonomic issues (e.g., back pain, eye strain) are common.
- Health Risks: High prevalence of hypertension, diabetes, and obesity due to stress, irregular diets, and lack of exercise.
-Facilities: Larger banks may offer health check-ups or gym access, but these are inconsistent, especially in rural branches.

Mental Health
-Stressors: Performance targets, customer demands, job insecurity (particularly in private banks), and adapting to digital tools.
-Pandemic Impact: COVID-19 exacerbated stress through health risks, remote work challenges, and economic uncertainty.
-Stigma: Mental health discussions remain taboo, discouraging employees from seeking counseling or using workplace resources.

Work-Life Balance
- Long Hours: Extended shifts, especially during fiscal year-end or audit periods, disrupt family life and leisure.
- Overtime Culture: Unpaid overtime is normalized, particularly in private banks, leading to burnout.
- Gender Disparities: Female bankers face dual pressures from societal expectations (e.g., caregiving) and workplace biases.

Organizational Policies and Initiatives
Private vs. Public Banks:
- Private Banks: Higher performance pressure but better amenities (e.g., health insurance, bonuses).
- Public Banks: Greater job security but slower technological adoption and fewer wellness programs.
-Initiatives: Some institutions provide counseling, flexible hours, or recreational activities, but implementation is patchy and lacks monitoring.

Socioeconomic and Cultural Factors
- Urban Challenges: High living costs in cities like Dhaka and Chattogram strain finances, despite relatively higher salaries.
-Commuting Stress: Traffic congestion and poor public transport reduce time for self-care.
-Cultural Norms: A "hustle culture" glorifies overwork, while mental health struggles are often dismissed as weakness.
External Pressures
- Regulatory Demands: Compliance with Bangladesh Bank directives (e.g., loan recovery, anti-money laundering) adds bureaucratic stress.
-Economic Volatility: Inflation, currency fluctuations, and loan defaults intensify job-related anxiety.

Case Studies and Data
-A 2021 survey by the Bangladesh Institute of Bank Management (BIBM) revealed 68% of bankers reported chronic stress, linked to targets and workload.
- News reports highlight protests over unpaid overtime and mental health crises, such as the 2022 strike at a private bank demanding better conditions.

Recommendations
-Policy Reforms: Enforce limits on working hours and mandate mental health resources through regulator’s guidelines.
-Corporate Responsibility: Expand wellness programs (e.g., subsidized gyms, stress-management workshops) and foster open dialogues on mental health.
-Cultural Shift: Media campaigns to destigmatize mental health and promote work-life balance.
- Gender Inclusion: Implement childcare support and anti-discrimination policies to retain female talent.

Concluding Remarks:
Bankers in Bangladesh face multidimensional challenges affecting their wellness, driven by occupational pressures, cultural norms, and uneven organizational support. Systemic changes, coupled with societal awareness, are critical to improving their wellbeing and sustaining sectoral growth.

Md. Kafi Khan: Columnist and Company Secretary, City Bank PLC