At the beginning of the New Year, many CEO’s and managers will be considering what adjustments to make to the benefits package they provide their employees. This year especially, many may consider offering more intrinsic benefits. Over the past few years, it hasn’t been enough to offer salary and health care. Employees want to feel valued in a deeper way.
According to a recent LinkedIn survey, 63 percent of women define career success as having a job that allows them to balance their personal and professional lives. Men are less likely to value this, but still find it important.
This means offering employees flex-time to work from home, respecting vacation time and making sure new responsibilities are feasible before they are assigned.
According to a 2012 poll from the Society of Human Resource Managers, only 10 percent of companies offered formal flex-time.
However, this number is likely to increase. Technology is the main factor which will allow for such job perks. In many office settings, communicating with the fellow employees and/or clients is just as easy through outlets such as email, Skype, GoToMeeting and the phone. As long as the employee is organized, this option should work seamlessly.
Offering work-life balance benefits not only makes an employee feel more successful, but it can also attract top hires and keep them there at less cost to the business. Evidence shows that many people today are more likely to take a job, even if it pays less money, if they are offered flexibility. In addition, studies also show that overall moral will improve, absenteeism will decrease and motivation will be sustained if these benefits are offered.
David Posen, Oakville, Ont. stress doctor and author of Is Work Killing You?, explained the necessity of work-like balance benefits in this article by Harvey Schachter. “Work-life balance is not a luxury. It’s a necessity – for good health, energy and productivity. And there are serious consequences if our lives fall out of balance for too long. Balance is an antidote, a counterbalance, to chronic stress. Balance prevents burnout.”
To create a sustainable business, managers and owners need to maintain a culture that prevents burnout and promotes productivity. Proper work-life balance may be the best method.