Benefits of Work-life balance
Benefits for you
Employees in companies already implementing work-life practices enjoy significant benefits such as:
- Being able to effectively manage multiple responsibilities at home, work and in the community without guilt or regret.
- Being able to work in flexible ways so that earning an income and managing family/other commitments become easier.
- Being part of a supportive workplace that values and trusts staff.
People want to be able to have1:
- a good quality of life
- an enjoyable work life and career progression
- training and development
- good health
- affordable childcare or eldercare
- further education
- more money
- time to travel
- time with friends and family
- time to do sports and hobbies
- time to do voluntary work
Benefits for your business
Good work-life balance policies and practices are good for business. Some of the benefits for you and your staff are:
- Getting and keeping the right staff
- Getting the best from staff
- Being an ‘employer of choice’ and future proofing
- Improving productivity
Getting and keeping the right staff
Finding and keeping good staff can be difficult especially in a tight labour market.
Employers who can offer work-life balance and flexible work options are likely to have the competitive edge, gain access to a wider recruitment pool, and are more likely to hold onto existing staff.
As a result of the flexible working arrangements and other work-life initiatives, Harrison Grierson have increased retention of graduates and women returning from parental leave.
“We estimate that the savings over the past three years through retaining employees who have returned to work after a period of parental leave are worth more than $300,000," says Raewyn van Lingen, Franklin Kindergarten Association, winners of the EEO Trust Large Organisation Work-Life Award 2007.
Getting the best from staff
Poor work-life balance can lead to stress and absenteeism, and low output. Helping employees achieve work-life balance is integral to their general health and wellbeing, increasing their work satisfaction and motivation. They are likely to be more committed, more flexible and more responsive to the business and customers’ needs.
"It's a wellness thing but it's also a monetary thing. You've got to have employees who are engaged, who are feeling good and who want to come to work. The alternative is to have highly stressed, underproductive people.” Lisa Gunnery Chief Operating Officer of Insurance Operations, Southern Cross, winners of the EEO Trust Manaki Tangata Innovation Award 2007.
Being an ‘employer of choice’ and future proofing
Being an ‘employer of choice’ can give you the competitive edge for attracting talent. Employees who are positive about their workplace help to foster a positive attitude in the wider community. Increasingly businesses are adopting practices that make a positive difference for the environment and society. Staff are a vital business resource, so it makes sound business sense to develop and protect this resource.
“IAG New Zealand sent out an army of volunteers on two projects during Volunteer Awareness Week. They planted natives at Kaitoke Regional Park and repaired, painted, cleaned out, polished at Riding for the Disabled in Kenepuru.” Volunteer Wellington News from the Edge reporting on their 2007 Corporate Challenge.
Getting and keeping the right staff and getting the best from them will help to increase productivity. Costs associated with recruitment, training and absenteeism will reduce and employees will be more engaged motivated and committed.
…initiatives to encourage work-life balance do have a positive impact on engagement and productivity provided the workplace culture supports use of the initiatives - EEO Trust research 2007.
To find out about other ways to improve your productivity visit our productivity pages.