Stress is Turning Tech Execs Into Heavy Drinkers

Nevermind the exorbitant salaries. The IT industry’s fast pace and high stress environment is taking a heavy toll on the mental health of many tech executives, pushing a significant portion of them into subtance abuse as a coping mechanism.

A recent survey by Censuswide and All Points North (APN), an addiction treatment center in Colorado, found that many tech executives are turning to drugs and alcohol to deal with stress.

Nearly half of the executives surveyed admitted to heavy drinking (up to seven drinks a day), while 45% confirmed their use of painkillers.

The recent waves of mass layoffs emerged as a major point of concern. Of the executives surveyed, 77% said they were mentally disturbed following news of the layoffs, with 74% admitting their worries of being replaced by artificial intelligence.

TECH LAYOFF TRACKER

The latest layoffs across big tech, tech unicorns, and startups.

147% increase in tech employee layoffs per day in 2023 vs 2022

So far in 2023, there have been 1,218 layoffs at tech companies with 316,623 people impacted (1,649 people per day).

In 2022,… pic.twitter.com/iD9LZBvujQ

— Hedgeye (@Hedgeye) July 11, 2023

The results are a wake-up call for tech leadership. According to the report, long hours and a high pressure environment are pumping tech workers full of stress. If that wasn’t enough, the constant fear of losing their jobs keeps them awake at night.

“It’s time for the tech industry to confront the root of these mental health issues and give its employees the support they need,” says Noah Nordheimer, CEO of APN.

In addition, 45% of executives surveyed reported using painkillers such as Codeine, Oxytocin and Vicodin. The use of stimulants and sleeping pills is also common, at 34% and 35% respectively, according to the report’s findings.

Over 500 tech executives who work for large companies (over 1,000 employees) were surveyed for the study, which took place between April and May of this year.

Covid Changed Tech Work

It seems the COVID-19 pandemic and the resultant rise in the demand for technology services could have contributed greatly to the current health crisis among tech workers.

In a survey conducted by AppDynamics, more than 80% of tech workers said that their job had become very complex since the pandemic.

Old data released by the Open Sourcing Mental Illness (OSMI) community points to a staggering 51% of tech professionals being diagnosed with some type of mental health condition.

Mentortribes, an online platform that connects learners with mentors in the tech industry, suggests in a LinkedIn article that tech workers practice yoga and meditation to reduce stress.

Upskilling programs may also help workers feel less anxious about losing their jobs or becoming obsolete in the age of artificial intelligence, it said.