Work Life Balance in Organizational Framework:A Conceptual Study
Anmol Jain_Banking _Work life balance
1. UNIVERSITY INSTITUTE OF APPLIED
MANAGEMENT SCIENCES
ORGANIZATIONAL BEHAVIOUR
Submitted To: Submitted By:
Ms. Arunachal Khosla Anmol Jain
Roll No. – 15
MBA - I Semester
Banking & Insurance Management
2. The reality of society today is that there are thousands of people out there leading lives of
desperation where they work long hard hours at jobs they hate to facilitate them to buy things
they don’t need, to impress people they don’t like.
Government and Organization are not going to solve this issue for us. So stop looking outside.
We need to take responsibility of the type of life we live. If you don’t design your life someone
else will do it for you and you may not like their idea of balance. You should not put the quality
of life in the hands of a Commercial Corporation. Companies are designed to get max out of you
in all circumstances.
-Nigel Marsh (TEDx Sydney)
Defining of Work-Life Strategy
Work-life balance is rooted in our need to hit a healthy balance among our desires to participate
fully in the labor market while giving the paramount of our time to our loved ones, in
quintessence, between our job and personal responsibilities. The notion of the value of work-life
can be defined as “the extent to which members of a work place are able to satisfy essential
personal needs through their learnings in the work place”
The concept of work-life balance acknowledges that all employees have to balance among their
work and personal lives, regardless of whether they have family responsibilities or not. Apart
from family responsibilities, an employee may need some personal time for additional matters
such as socializing and studies. Hence, a fundamental hitch being faced by growing number of
individuals is how to balance growing work and non-work burden.
3. Six Components of Work-Life Balance
Self
Management
•Adequately managingone’s self can be exigent, particularly in getting apt sleep, exercise,
and diet. Self-management is the acknowledgment that effective usage of the spaces in our
lives is vital,and thataccessibleresources,time, and lifeare limited.It means to become the
captain of our own ship;no one is goingto steer for us.
Technology
Management
•Successfully managingtechnology entails ensuringthattechnology serves us,rather than
abusingus.Technology has forever been with us, sincethe firstwheel. Now, the speed of
change is accelerating,broughtby vendors seeking to expand market share.Time and again
there is no choicebut keeping up with the technological advancements,but you must rule
technology, not the other way around.
Leisure
Management
•Leisure management determines the vitality of rest and relaxation that“time off” is a vital
constituent of the human experience. Intriguingly,too much of the same leisuretime
activity,however pleasurable,can lead to monotony. Thus, effectual leisuremanagement
requires changingone’s activities.
Time
Managament
•Effectively managingtime involves makingbest use of your day and the sustainingresources
that can be summoned – you keep swiftness when your resources go with your challenges.
Time management is improved through suitablegoals and determiningwhat is both
important and urgent, againstjustimportantor urgent. It is knowingwhat do you do best
and when, and assemblingthe proper tools to complete specific tasks.
Stress
Management
•By nature, societies havea propensity to become more complex over a period of time. In the
view of increasingcomplexity,stress on an individual isto be expected. More people, more
distractions,and more noiserequire each of us to become expert at maintainingcalmand
work ourselves out of these pressure-filled situations.Mosttypes of multi-taskingin the end
boost our stress,as opposed to focusingon one thing at a time.
Change
Management
•In this fast-paced world, change is practically theonly constant.Recurrently adoptingnew
methodology and re-adaptingothers is critical to a successful career and a happy personal
life.Effective change managinginvolves makingintervallic and intensiveefforts to ensure
that quantity and rate of transformation atwork and home does not overpower or defeat
you.
4. WLB - Impact on Organizations
Families nowadays are struggling and are more stressed out. And we have heard about the need
for proper work-life balance. But as a senior-level manager of some MNC or being a business
owner, is this problem really something that should be of your concern?
Numerous studies have been conducted in the field of stressed out employees and its effects on
business productivity. The results of these studies indicate that stressed out workers cost
businesses in increased staff turnover and absenteeism, and decreased productivity.
According to a recent survey conducted in 2011-12 study finds employee stress results in
multiple costs to businesses. Within the study sample, 25% of employees were marked absent
from work within the past year because of work-life issues, 77% missed work in the preceding
six months as a result of health problems, physical/emotional fatigue due to stress, and childcare
or eldercare issues. The absenteeism ranged from 7-9 days missed per year for the above
mentioned reasons. In addition to this, these work-life challenges have caused 19% of employees
to work at reduced hours, 22% complained they were less productive at work, and 21%
employees had to utilize more of the company benefits plan. Employee turnover costs
organizations in the way of retraining newly hired staff or lost productivity in the interim; the
study has found that among 12% and 35% of employees were willing to leave their current
employer for reasons such as high workloads and lack of career development.
Work-Life Benefits
Many top-level organizations such as IBM, Merrill Lynch, Pfizer and Accenture have introduced
work-life programmes within the company to help their employees attain a successful balance in
their work and personal life. Companies like these believe that it makes excellent business sense
to offer such programmes to the employees because of the financial and non-monetary profit that
can be obtained.
Many studies have also revealed the symbiotic association between work and person/family life.
It is reasonable that employees who effectively balance the load of work and family/personal life
are highly motivated to provide their best performance at work. Work-life approach can align the
corporate and personal goals to achieve a win-win situation by addressing the business needs of
the organization and the individual needs of its employees.
While the straight financial benefits of Work-Life Programmes are difficult to enumerate, there
has been plentiful research data collected on knowledge of firms in getting the intermediary
benefits of such programmes. These intermediary benefits sequentially add to the improved
performance of companies. Major intermediary benefits are:
5. Better recruitment, retention and reduced turnover
Work-Life balancing initiatives give companies a humanly face that allows potential
recruits to tell apart one employer from another. To draw more employees and
holding on to them, forward thinking organizations let their staff know that they are
just as worried about the lives of their employees outside work premises and want
them to administer their work and personal aspirations. The key benefit here is the
positive branding of the company in recruitment process and retention of acquired
talent. Employee referrals also boost.
Superior customer satisfaction
Enhanced customer reaction is possible via telecommuting and the longer working
hours can be prearranged by providing flexibility of work hours. Simultaneously,
highly motivated employees whose personal needs have been addressed are more
expected to go out of their way to keep customers happy.
Better staff morale
Work-Life balance enables employees to lead a healthier and evenhanded life by
allowing them to concentrate more at work, improving the environment at work by
escalating motivation and job satisfaction.
Less absenteeism, stress, and associated costs
Employees today are considered to be more stressed which reduces their
performance levels. Absenteeismhappens because of family. Work-Life programmes
help employees to perform better by reducing absenteeism, late coming, and
sickness-leave and hence the costs related to such incidents. Such people who are not
worried about the on goings at home are more productive.
6. What can employers do?
Company’s culture plays an important role in employees’ perception of work-life balance.
Company culture inculcates the values and norms rooted in day to day practices. Office policy
like flexibility within work schedule and other family-friendly policies can help simplify the
stress of employees’ work and personal life but only if employers are truly stanch to the concept
of work-life balance. In general, work-life programmes, policies and practices can be categorized
as:
Employee Support Schemes
Time-Saving Facilities
On-Site Childcare Centre
Elder Care Arrangements/Subsidies
Social Activities for Singles
Medical/Insurance Coverage for Family
Gift for Marriage/Birth
Health and Wellness Programmes
Financial Assistance Schemes
Family Life Ambassador/Education
Family Relocation/Orientation
Family Information and Referral Services
Counselling Services
Family/Lactation Room
Child Care Arrangements/Subsidies
Family Friendly Infrastructure
Regular Review of Work-Life Plan
Family Friendly Culture
Supervisors Trained on Work-Life
Staff Feedback on Work-Life
Work-Life Balance as Core Value
7. Designated Work-Life Officer/Team
Planning for Staff Work-Life Balance
Equitable Human Resource Management Practices and Policies
Flexible Work Arrangements
Job Sharing
Permanent Part-Time
Compressed Work Week
Telecommuting
Flexible Start/End Time
Leave Benefits
Paternity Leave
Study/Exam Leave
Bereavement Leave
Marriage Leave
Renewal Leave/Sabbatical
Family Care Leave
Emergency Leave/Time-Off
Some companies are leaving the old conventions and are setting an example for other companies
to follow:
8. What can you do?
For proper work-life balance to occur, workforce needs to be accountable for adopting definite
behaviors which can help them equate work and other parts of their life (e.g. friends, family,
self).
The perfect work-life balance differs from person to person and keeps changing over time. We
must find and create the equilibrium that will make the most of our opportunities and
responsibilities on a regular basis.
• Employees who take long/short breaks from
work helps keep the workforce motivated. The
rejuvenating effect of short/long vacations
from work enhances the input being given by
the employee.
• Employers can see how the team works
without a particular member which helps in
designing training programmes.
Phillips
• New parents need a lot of time and effort
to raise a child. It is a fulltime job in itself.
Providing on-site day care services give
organizations a niche over other in
employee retention and satisfaction. It
addresses to the needs of employees with
family commitments and professional
ambitions.
• "... American Express goes so far as to have
a back-up daycare service attached to the
building for those times you need it."-
Former Employee
American
Express
9. Few Tips for Improving the Work-Life Balance:
There is no fixed criterion of Work-Life balance. This balance is ever changing according
to the individuals need at a particular time.
Define the boundaries between work life and personal life very clear and distinct.
Good time management and organizational skills are must for superior work-life balance
Stop procrastinating, focus on the important things to do at hand, and divide and delegate
the work (whether at work or at home) with others.
Set goals plan and prioritize work, decide what is important to you and write it down
which makes thinking about it clearer in mind. Goals should be specific, measurable,
attainable, timely, and most importantly realistic.
Right thing, right way, right time, and right length of time. It means to focus on result.
Aim for excellence and not perfection
Take holidays and long weekends: we all need break from operations. Even machines do!
Reward yourself: Set goals, attain them and enjoy the rewards. You deserve them
Stay healthy, eat well, sleep well, workout. If you are healthy your body can perform
with greater efficiency.
Love your job, enjoy what you do, explore the potential of your job; create opportunities
for others to learn.
Love your life enjoy the journey, take control, be true to yourself, never accept less than
what you want