Performing Under Pressure:: Managers Embracing New Realities

This article is based on an empirical investigation (including interviews and a survey) into the new working conditions of managers in an age of 'shareholder value'. It identifies the new sources of pressure: new technologies, global markets full of competitors, investor requirements leading to tough financial targets, more demanding customers, and non-stop M&As. Although their views on investors were split, managers felt no aggression towards them. But they all admitted to worsening working conditions: greater overtime and travel, the need to be always available, and more focus on the bottom line. They believed there was some compensation from greater responsibility in team-based structures and incentive salaries. They also recognized that stress can be self-imposed. The interesting question is: how long can such compensatory factors last?