Slow Leadership has a post on why we put in excessive hours.
I'd add some other factors:
Reorganizations, lean workplaces, fluid responsibilities and information overload have created a sense that jobs are unknowable. That in turn leads to a lack of security and in order to compensate for that, people are working harder than ever.
Add to that the changed expectations on deadlines that come with email, cell phones and fax machines and you have a bunch of hamsters on a treadmill.
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