WORK LIFE BALANCE
WORK LIFE BALANCE
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Work-life balance in a company refers to the ability of employees to balance the demands of their work with their personal life responsibilities and activities outside of work. It involves creating an environment that supports employees' well-being, including physical and mental health, family and personal obligations, and leisure activities.
Key Factors Affecting Work Life Balance of an Employee
1 Marital Status | Nature of one's job, the support available from family, and personal preferences and priorities impact work life balance
We can observe almost similar behavior for both genders. We can see that employees who are divorced or married have a lower attrition rate compared to those who are single. This disparity could be due to several reasons.
Single employees:
Career Advancement: They may feel more pressure to advance in their careers, especially if they do not have a spouse or partner to rely on for financial support.
Flexibility: They may have more flexibility to make significant life changes, such as relocating or pursuing a new career path.
Married / Divorced employees:
Financial responsibilities : They may have additional financial responsibilities, such as supporting a spouse or children making it less likely to take risks and leave their current job
Stability : They may prioritize stability and predictability in their lives, which can translate to their employment.
SCOPE OF IMPROVEMENT :
Provide a sense of community: Single employees may feel isolated or disconnected from their colleagues. Providing opportunities for team building, social events, and mentorship programs can help build a sense of community.
Address compensation and benefits: Ensuring that compensation and benefits packages are competitive and meet the needs of all employees can help reduce attrition rates among single employees.
2 Business Travel | They have an impact on one's personal routine and might make it difficult to maintain a healthy work-life balance.
Workers who travel frequently are more likely to leave the company as compared to those who travel rarely or not at all. This is mainly because of the disadvantages that come with frequent traveling.
Frequent travel can be disruptive to an employee's work-life balance. It can take a toll on their physical and mental health, leading to fatigue and burnout impacting the ability to maintain personal relationships and participate in extracurricular activities, leading to feelings of isolation & disengagement.
It can also impact an employee's career development opportunities. It can make it more difficult for them to build relationships with colleagues and managers, limiting their opportunities for growth and advancement within the organization.
SCOPE OF IMPROVEMENT
Establish clear policies and guidelines around business travel, including the frequency, duration, and purpose of travel. This can help employees understand the expectations and requirements around travel and can minimize confusion or resentment.
Provide support and offer incentives to employees to employees while they are traveling, such as travel assistance, expense management, and access to resources and information being flexible in providing video conferencing or other virtual meetings options.
3 Working hours | They have an impact on how employees manage their personal responsibilities and health.
Higher the attrition rate, the average working hours tend to increase, this could be due to several factors such as burnout, decreased job satisfaction, or an imbalance between work and personal life. If employees feel like they are working too much and not able to enjoy their personal time, they may be more likely to leave their job in search of a better work-life balance.
It is expected that the employees who live closer to work, it is easier to get there and back, can lead to reduced stress and more convenient to work longer hours without it affecting their overall life quality, but no such trend could be observed from the above data.
SCOPE OF IMPROVEMENT
Offering flexible work arrangements such as telecommuting, flexible hours, or part-time work to help employees balance work and personal commitments. This can be particularly helpful for employees who have long commutes or caregiving responsibilities.
Provide resources and support for employees who have long commutes, such as transportation subsidies, carpooling or ride-sharing programs, or access to remote work options.
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