According to HSBC India study, 42% of the individuals surveyed in India are so uncomfortable with making decisions that they put them off for as long as possible, and 42% of them view change as something only to be managed or coped with, with 15% wishing to avoid it altogether.
A staggering 69% of Indians find it increasingly difficult to plan for the future, as 91% acknowledge living through an era of rapid change, reveals a new HSBC study. This uncertainty has led to decision paralysis, with one in three respondents feeling overwhelmed and unable to act, it added.
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The survey findings highlight a significant gap in confidence, as 62% of individuals feel ill-equipped to manage their decisions, and 57% regret missed opportunities.
As people grapple with these challenges, HSBC emphasizes the importance of seeking guidance and embracing uncertainty to regain confidence in decision-making.
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Highlights:
Rapid Change: 91% of Indians feel they are living through an era of rapid change.
Planning Difficulties: 69% of respondents struggle more than ever to plan for the future.
Decision Paralysis: One in three (33%) Indians experience decision paralysis, feeling overwhelmed by choices.
Lack of Confidence: 62% feel ill-equipped to manage their decisions effectively.
Regret Over Missed Opportunities: 57% express regret about opportunities they let pass by.
The global study of 17,555 individuals (3,155 business leaders) across 12 markets, including India, Hong Kong, Singapore, UAE, UK, and the US, has uncovered that people are struggling to navigate change and make decisions in their lives.
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In fact, 42% of the individuals surveyed in India are so uncomfortable with making decisions that they put them off for as long as possible, and 42% of them view change as something only to be managed or coped with, with 15% wishing to avoid it altogether.
This can lead to a vicious cycle with over half (57%) feeling regret at letting opportunities pass them by. Struggling with decision paralysis often impacts people’s perceptions of their decision-making abilities too, with many people in India looking back negatively at decisions they’ve made on their own. 46% of individual respondents say a decision made by themselves will usually turn out to be poor.
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Commenting on the research, Sandeep Batra, Head, Wealth and Personal Banking, HSBC India, said: “Life is rarely a straight line. At HSBC we believe that wherever life may take you we can help you navigate it. Our ability to guide people and businesses through the twists and turns of life with true power of international network makes us well equipped to help you seize uncertainty.”
