When many of us think of our top 10 London Olympic and Paralympic moments, I am sure doing the Mo-bot in front of the TV as Mo Farah won gold in the 5,000 and 10,000 metres, is up there with the best of them!
The sheer drive and determination Mo displayed in order to achieve his moment in the spotlight is an inspiration to both future athletes and ‘regular Joe’s’ such as you and I. Mo’s great ability to juggle both his work and home life balance was also of particular interest to me. Alongside representing his country, he is a supportive dad to his 7 year old daughter and heavily pregnant wife; who gave birth to twin girls only weeks after he won his medals. So how does one find balance between attaining great achievements at work with a healthy, happy family life?
This is a question that has become increasingly important to the majority of employees over recent years. As wages stagnate employees look for alternative rewards for their work and achieving a good balance between these two areas is one obvious focal point. An employer, who actively endeavours to improve their employee’s work-life balance, will be held in far higher regard by their staff than those who ignore the subject completely. In fact, a 2013 study by Bayt revealed that 98% of employees stated that achieving a good work-life balance was a key factor to their motivation and staff loyalty.
With the start of a new financial year for many it is the perfect time for employers to look ahead and consider the benefits associated with supporting their employees in achieving a good work life balance.
My PA’s ‘2013 Work-Life Balance Benefit Forecast’ reveals 3 key projections for 2013:
1. Focus on recruitment and retention
54% of companies stated that they had lost their top talent over the past couple of years (according to a recent study by Right Management).
Catering to your employees’ current needs is vital in order to ensure staff loyalty and introducing more flexible working could have more of an impact than you think. 77% of employees stated that they benefit from flexibility at work, and it is the main reason why they intend to stay with their company.
2. Virtual Workforces
A recent study by Work Simple revealed that 61% of employees believed their company will allow more telecommunications over the next 3 years. By eliminating the daily commute, employees are feeling more energised and able to strike a better balance.
A study of more than 24,000 IBM employees in 75 countries found that “employees who worked only in the office reported struggling to balance work and family life after 38 hours of weekly work, whereas employees with flex-time and the ability to telecommute cranked out 57 hours of work before reporting a strain on work-life balance.”
3. Beyond traditional benefits
Companies are beginning to realise that the traditional benefit offering is no longer enough to attract and retain today’s top talent. Where fitness rooms and dress down Fridays were once enough to satisfy staffs needs, organisations now need to think outside the box and invest in effective staff motivation, recognition and benefit programmes.
