A strong corporate culture in which work-life balance is encouraged can be just as important for employees as it is for the success of a company. One of the most valuable things you can ever do as a business leader is to safeguard the talent of your team.
By making wise decisions that help employees reach that work-life sweet spot, you are actively growing a strong and healthy workforce prepared to help your company sail into the future.
In this guide, we’ll dig deep into the concept of work-life balance. We’ll talk about what it means, unpack the benefits that come with it, and shine a light on the ways in which you can boost that healthy balance in the workplace.
Let’s get started.
Less than two-thirds of employees report their physical and mental well-being as being excellent (63%) or good (58%). And 63% of managers and 59% of employees consider quitting their jobs because of poor work-life balance.
What Does Work-Life Balance Mean?
The work-life balance theory has been around for a while now. It’s based on the idea of cultivating a healthy balance between work and home. Some will even argue that this means a straight 50-50 split between one and the other. However, this isn’t necessarily true.
In fact, according to the Mental Health Foundation, a healthy work-life balance means different things to different people. It’s not so much about the way time is split between work and home, but rather about making sure that both parts of life are fulfilled.
In more practical terms, this means:
One doesn’t seep into the other.
Employees can meet deadlines while still having time for friends and leisure.
Employees don’t have to worry about work when they’re at home.
Employees dedicate an equal amount of time to work and personal matters without experiencing stress or anxiety.
And yet, work-life balance still feels unattainable for many workers today. In fact, research from Deloitte shows that employees’ well-being remains suboptimal.
Less than two-thirds of employees report their physical and mental well-being as being excellent (63%) or even good (58%). And 63% of managers and 59% of employees consider quitting their jobs because of poor work-life balance.
Why Work-Life Balance is Important
According to the Harvard Business Review, corporate programs that support work-life balance have a direct positive effect on productivity, turnover, and employees’ mental and physical health.
Perhaps even more importantly, it can help strengthen diversity. From a DEI perspective, work-life balance is about looking after the well-being of all groups within a workforce – not just those who are traditionally seen as in need of work-life balance.
But then, who needs it the most?
Every single employee on the planet needs harmony in their professional and personal lives. That said, there are segments of the population who need it perhaps even more. According to research, women and people of color tend to need it the most, as they are less likely to achieve it.
Furthermore, data shows that it’s within the aforementioned demographic groups that people face the biggest work-life challenges. For example, Black and Hispanic women are more likely to be single parents. Over 40% of Black families are headed by single mothers, followed by 25% of Hispanic families and 13% of white families.
Key Benefits of Work-Life Balance
There’s a lot to be gained for employees and the overall wellness of the workplace from cultivating more harmony in work-life dynamics.
Some of these benefits include:
Reduced stress levels
Improved physical and mental health
Better time management
Better chances for personal growth
Higher levels of engagement and productivity
Increased job satisfaction
An overall enhanced quality of life
The Nexus Between Work-Life Balance and Profit
The constant pursuit of success, known as “hustle culture,” can lead to more harm than good. Recent studies have started to challenge this paradigm with data showing a strong connection between work-life balance and ROI (return on investment).
There are several tangible benefits for businesses who decide to invest in work-life balance:
Enhanced productivity and innovation
Improved staff retention and talent attraction
Higher employee engagement
Increased profitability
Reduced absenteeism
You can find out loads more about engagement economics in this article.
How to Create a Balancing Act in the Workplace
When it comes to promoting work-life balance, there are many different approaches to choose from. It’s often a combination of two or three that can help bring about faster results!
Flexible Hours
As we move toward more hybrid work models, where employees have greater control over their schedules, offering flexible hours has become the standard requirement.
Studies show that employees with remote work options also tend to perform better. This creates more engaged and productive teams.
According to Gallup, women and millennials in the US alone seek companies with flexible policies. In response, many organizations that weren’t remote before have decided to offer alternative work schedules and flexible options.
Opportunities for Personal Development
Supporting your employees’ personal interests is a powerful way of showing them the value of well-being. It can also bring fresh perspectives to the team to boost innovation and creative thinking.
If possible, offer your team opportunities to pursue their passion projects or attend non-work-related workshops. This can be immensely enriching and also contributes to a more vibrant workplace culture.
Celebrating Milestones
Shifting the focus from “hours worked” to “milestones fulfilled” can be a tremendous boost to the workplace mindset. When employees control the outcome of their work beyond hours clocked, it can rocket-fuel their efficiency!
Wanna know more about how to elevate employee spirits and foster a flourishing workforce? Here’s a guide.
Promoting Wellness Initiatives
Health and work-life balance go hand in hand. Long commutes to work and little time for yoga classes or gym sessions can take a toll – both on the mind and body. Poor health is the one thing that affects an employee’s personal and professional life in equal measures.
As part of a more holistic corporate program, offering discount memberships to a local gym – or even a fitness-focused gift card – is a great idea if you want to keep the team healthy and productive. No doubt they’ll appreciate it!
Creating a Work-Life Focused Corporate Culture
The benefits of work-life balance are clear. It’s not just about caring for the wellness of your team – it is also about building a workforce that will usher your company towards success.
The time to act is now. By promoting a balanced lifestyle within your team, you are upping the odds for sustainable growth and innovation.
Good job building a workplace where all employees can thrive!
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