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Lecture

Work Life Balance.docx

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Department
Management
Course
MANA 298
Professor
All Professors
Semester
Fall

Description
WORK LIFE BALANCE Benefits of work life balance to a business (i) Reduced stress, absenteeism and health costs Employees today are generally more stressed which reduce performance levels. Absenteeism due to family commitments and stress could be a major reason for low performance levels. Work-Life initiatives improves employee performance by reducing absenteeism, lateness, health care and sick-leave and hence their related costs. People who are free of worry about what is going on at home can be more productive at work. (ii) Improved staff morale and engagement Work-Life helps employees lead a healthier and more balanced life by allowing them to better concentrate at work, improving the work environment by increasing motivation and job satisfaction. Other studies have shown that improved staff morale lead to more committed staff and better performance. (iii) Improved customer satisfaction Better customer response is possible through telecommuting and the longer operating hours that can be arranged by giving employees flexibility. At the same time, more motivated employees who have their personal needs addressed are more likely to go the extra mile to keep customers happy. (iv) Reduced costs Office rental and utilities savings due to telecommuting are the strongest quantitative researches to show the financial benefits of Work-Life Programmes. (v) Improved recruitment, retention and reduced turnover: Work-Life initiatives give organisations a human face that allows prospective employees to distinguish one employer from another. To attract employees and hold on to them, forward thinking companies are letting their employees know that they are just as concerned about their employees lives outside work and about helping them to manage their work and personal commitments and aspirations. Work-Life Programme’s key advantage is therefore positive branding in recruitment and retention of talent. Employee referrals also increase. (vi) Becoming an employer of choice
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