Like financial resources, human capital is also a crucial asset for the companies which contributes to the achievement of business objectives and goals. Therefore, it is the responsibility of the companies to emphasise the well-being of the employees, for which having a healthy work-life balance is important. Work-life balance refers to providing equal priorities to manage the professional life as well as personal life effectively.
A healthy work-life balance keeps the employees refreshed, which facilitates them to be engaged with their work and generate higher productivity. Companies which focus on employee well-being are not only able to enjoy higher work productivity for the long term but also gain good recognition from the stakeholders. As a prominent effort towards offering healthy work-life balance to workers, the remote work strategy has gained immense popularity in the last few years, especially after the pandemic.
Importance of work-life balance
Increased engagement
Workers who have a healthy work-life balance are mostly more motivated towards their work in comparison to an employee who is struggling to maintain a work balance. Motivation and job satisfaction are the keys to higher employee engagement in the workplace. A proper balance between the work-life and personal life can also reduce the health problems of the employee which leads to the reduction in the absenteeism rates of the workers due to sick leaves. It has been observed that a high level of engagement can lead to the enhancement of the operating income of a company by 19.2 per cent approximately per year.
Higher employee retention
Around 73 per cent of employees prioritise work balance rather than only salary for the selection of a job. Moreover, approximately 48 per cent of people are found to be resigning from their organisation because of the prevention of enjoying their life and having no work balance. Therefore, by promoting a positive work culture which supports the employee’s well-being, companies can retain their workers for a long time, leading them to reduce their costs related to the recruitment of talent again and again.
Reduces employee burnout rate
Employee burnout refers to the occurrence of psychological disturbances due to stress at work. Workers often become stressed and exhausted when they fail to maintain the work balance effectively. The prevalence of burnout among employees is increased when they are unable to balance their work and personal lives. Therefore, towards addressing burnout, ensuring work balance is significant.
Effective ways to facilitate the work-life balance of employees
Offering flexible and remote work options
The concept of remote working has gained considerable attention in maintaining work balance by the employees after the pandemic. Remote working empowers the employees to work from their home or any location allowing them to spend more time with their family members or close relatives. Apart from this availability of flexible work schedules is accountable for maintaining the proper work balance by the employees.
Arrangement of wellness programs
In order to support both the physical and mental well-being of the staff, the companies can arrange various wellness programs such as providing access to telemedicine consultation free of cost, mentorship programs, yoga and meditation subscriptions, as well as developing skill-improvement workshops. The career development opportunities also facilitate the job satisfaction of the employees.
Ensure sufficient break
Organisations should allow their employees to take sufficient breaks in between their work schedules for healthy eating. Small breaks between the busy work schedules support the worker to remain refreshed and concentrate on their work.
Recognition of the capacity of the employees
The capacity and work efficiency of each employee is different. Allocation of inappropriate work can make the employees become demotivated towards their work, which leads them to struggle to maintain work balance. Therefore, the managers of the companies should assign the job responsibility to the employees according to their capability, expertise and interests. It should be ensured that each employee is allocated achievable workloads to keep them stress-free.
Taking employee opinion
Regular conversation with the employees from time to time is crucial to get a comprehensive understanding of their concerns and opinions. As per the findings of the research, around 47 per cent of employees have never been communicated regarding their experiences by their employers. In this regard, the managers of the companies conduct surveys, group meetings or virtual conferences at regular intervals to stay relevant to the employee’s concerns and integrate effective action plans to ensure their well-being.
Paid time off
Paid time off refers to a valuable benefit or perk given by employers to their workers in which they are allowed to take off without any deduction from their salary. It facilitates the workers to enjoy a relaxing moment without stress free and return back to the offices with higher energy. This is accountable for building a productive workforce.
Offering paid menstrual leave
Though menstruation is a normal activity for women, this can adversely impact the working life of female workers. Therefore, companies should take initiatives towards implementing a paid menstrual leave policy for female workers to ensure their wellbeing at work. For example, Zomato offers paid period leaves of up to 10 days a year to all its working women.
Top countries with the best work-life balance
A study revealed the names of the top countries which have the best work-life balance, which is determined based on several factors, including paid maternity leave, statutory annual leave, average working hours and many others. According to the report, New Zealand has the highest score in the context of maintaining work balance, which is 80.76 out of 100.
The next spot is occupied by Ireland which holds a score of 77.89 out of 100. The third, fourth and fifth positions are held by Belgium, Denmark and Canada, with a score of 73.45, 73.45 and 72.84, respectively. India is positioned at the 38th rank with a relatively low score of 38.83 out of 100. This reflects the poor work balance among the employees working in Indian organizations.
FAQ
1. Why is healthy work-life balance important?
A healthy work-life balance is crucial as it increases engagement, improves retention, and reduces burnout.
2. How can companies promote employee well-being?
Companies can promote employee well-being by offering flexible work arrangements, providing wellness programs, ensuring sufficient breaks, recognising employee capacity, and seeking employee feedback.
3. What are the benefits for companies in ensuring employee well-being?
Employee well-being improves productivity, enhances company reputation, and reduces costs.
4. What are some countries with proper work balance?
New Zealand, Ireland, and Belgium are considered to have the best work balance.
5. What is the rank of India in the index of maintaining balance between work and life?
India is positioned at the 38th rank with a relatively low score of 38.83 out of 100.
