April 4, 2012
Work-Life Balance
Work-life balance is the process of establishing an equilibrium between work and every other aspect of life. In a satisfying environment, one strives to seek that balance between the activities that are classified as doing work and those activities we deem essential to running the family and household, those recreational and down-time activities we need to recharge and enjoy life.
A great work-life balance must start with you first, if you want to be a successful balanced entrepreneur. You will also need to ensure your staff are happy and healthy in a productive environment by way of a strong, implemented work-life balance in your organization.
Work-Life Balance – In your Business
To maximize your business’ performance, you and your team need to stay healthy and happy. Work-life balance is one of those key things an employer can do outside of compensation, to provide more benefits to staff. Without work-life balance features, employees will need to take off significant amounts of time for family responsibilities and other. You as a business owner know that in some cases, staff may call in sick when family duties are calling them. This has a significant impact on operations and performance of the organization. Business finances take a hit if leaves are compensated for, or if you have to insert replacement staff.
Work-Life Balance – Flexible Scheduling
If your business environment is one of flexibility to allow for flexible scheduling, encourage and promote flexible work arrangements. This works well in industries where core functions are not considered essential services.
Industries such as medical care or education, flexible arrangement may be difficult but not impossible. Having flexible scheduling allows staff members to take care of family responsibilities without impacting the business or the career path.
Work-life Balance features you could offer to employees:
- Combining or revising classifications of leave (i.e.: vacation leave or medical leave)
- Paid leave for educational or capacity building activities
- Work at home arrangements
- Work on the road schedules
- Daycare programs at work
- Concentrated scheduling
- Allow for health, wellness and fitness programs and time for it at work
- Bring kids to work environment if you have teams of working parents in your business
- In stressful and pressured work environments ensure you build in corporate activities to give everyone that stress break, such as non-work activities
Work-Life Balance Statistics
The Society for Human Resource Management (SHRM) completed a study (Sept 2010) of the work-life balance dynamic in US businesses. Here are some of the statistics:
- 89% of respondents stated work-life balance was an issue; 54% stated it was serious
- 57% of those surveyed claimed that employers are not effectively addressing work-life balance and not doing enough
- 38% said work-life balance has worsened in these tough economic times
However, with businesses that incorporate great work-life balance features, employees cite they are more happy and productive and the performance of those organizations show marked improvements.
Some of the Many Work-Life Balance Benefits for Employers and Employees:
- Physically and mentally healthier and happier employees
- Less absenteeism
- Job satisfaction level for employees increases
- Sick leave and medical claims decrease
- Improved corporate culture
- Improved performance of staff and units
- Talent management improvements in employee retention
- Can be included in the promotion of “best places to work”
- Improved enjoyment of life
- Improved and stronger family and business relationships
Encourage leaders within your organization to come forward and develop teams and meetings to address work-life balance issues at your business. As an effective leader and entrepreneur, encourage team members to provide feedback on how to make the work environment better. Listen and learn when employees speak on employee satisfaction in the workplace. Survey employees frequently and engage in conversation with them about work-life balance.
Work-life balance at work is a very effective way to improve your organization across individuals and business units. Allow your professional teams to help others be successful with results-based, work-life best practices.
Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One
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