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Business Practices That Promote Work-Life Balance

work-life balance

The Boomer generation defined the “workaholic” approach to business life. They needed to read this. Generations since then have gravitated more to valuing work-life balance. As the Boomers move into their retirement, the Next Gens and Millennials are asking for more out of life. They want to work hard, but they also have home and outside interests they want to pursue, and they don’t want to eat stress for lunch every day. Can a small business create policies that not only help the company but care for the employee as well? 

The Meaning of Work-Life Balance

Today’s workforce has changed it’s dynamic over the decades. Two-income families are the necessary norm, and single-parent households, many with the parent holding more than one job, are also common. Family life is more strained without a stay-home parent, and accommodations have to be made or else kids suffer, and parents must make hard decisions. Companies are learning that if they want to avoid costly turnover and develop employees for the long-term, giving those options that favor their personal and/or family life is necessary. Even single employees will factor in work/life balance when considering a job change.

Creating a Company Culture for Balance 

Normal benefits of sick pay, health and other insurance are now a given; more needs to be offered to stand out as a family-friendly company. Attract and retain employees over other companies by providing a work/life balanced company culture with: 

  • Paid family leave This includes more than maternity or paternity leave. It can include time surrounding a family illness, medical leave, caring for the elderly, or dealing with school issues.  
  • Child-care options – Offering a stipend toward child-care expenses or having a childcare facility on site helps many parents, especially single parents, to be more dedicated and loyal employees. Statistics show an increase in general well-being and a decrease in absenteeism while inducing many employees to choose to stay for less pay over risking a less ideal childcare situation elsewhere. 
  • Flextime – Allowing employees to job share, work remotely or rearrange shifts to accommodate outside appointments and responsibilities is the most coveted new benefit. It is cited as the #1 poll response for benefits that cause employees to stay with a particular company, even when offered more pay or other benefits elsewhere.
  • Fitness opportunities Having an onsite gym or paid gym membership is another highly sought after benefit for employees. It shows that a company cares for the well-being of workers while having the practical effect of keeping them creative, encouraged and generally positive.  Regular work-outs often result in employees missing fewer workdays, and being less depressed. They also tend to be more social with team members. When gym benefits are extended to a spouse, employee families tend to be more socially connected with each other, which builds support systems at work and promotes company loyalty.
Posted on February 26th, 2020 by Client Advocate Team

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