Balanced Work Life and Employee Retention
Balanced Work Life and Employee Retention
Article by Jerry Hall
Many researches show that when employees are healthy and live balanced lives will lead to retention, engagement, and high productivity. This means that, in addition to reducing turnover, work-life balance initiatives are linked with several other organizational benefits, including improved recruitment, reduced absenteeism, reduced overheads, enhanced productivity, improved customer experiences and a more motivated, satisfied, and equitable workplace. Evidently, the savings associated with these benefits are really high. For example, due to absenteeism alone, lack of work-life balance had cost Canadian organizations approximately .7 billion per year, not including the cost of replacement, overtime costs, or the cost of reduced productivity. (see Career Change)
It is important to note that there is no such thing as one initiative fit all situations. Given the diversity of workers, organizations need to recognize that achieving work-life balance could mean different thing to different people, depending on their life and career stages. For some, the “life” part of work-life could mean having the time for childcare, for eldercare, or for simply hanging out with family and friends. For others, it could mean being able to exercise, learn a new skill, participate in local communities, or even avoid rush-hour traffic. Since years, many organizational programs, policies, practices, and benefits are designed focusing on the needs of those in “traditional” families. However, the most effective work-life balance strategies reflect the fact that not everyone has the same needs and wants.
According to a survey administered to approximately 10,000 Canadians, the most desired organizational programs voted by the participants are offering flexible work schedules, limiting the amount of overtime, creating part-time work and telecommuting opportunities, and providing for family care. However, not every work environment can accommodate all of these initiatives. (see Career Change) Other types of strategies that can be implemented to foster quality work-life balance include providing opportunities for staggered hours, shift swapping, job sharing, compressed work hours, and time off in lieu of extra pay for overtime. Paid family days and other special leave days are also quite common ways of affording people the flexibility to attend to their personal lives. Finally, one more initiative can be considered by organizations in promoting work-life balance is to create a work place that makes it more convenient for people to manage their personal lives in and around their work. For example, organizations can build onsite daycares, fitness and recreational centers, medical centers, hair salons, etc. where all designed to accommodate personal needs at work.
In conclusion, as evident from various researches around the world, balanced work-life indeed is an important factor influencing employee retention in the organization.
About the Author
Jerry H.Hall has an interest in Career Change Management related subjects. If you are interesting in finding out more information on Career Changes, please visit this successful Career Change site: http://CareerChange.SmartReviewGuide.com
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