There was a time when working late nights and weekends seemed like the prerequisite to earning more money, advancement, and recognition in the workplace. In a bid to earn more income, some employees would put in extra hours, sacrifice their time and extracurricular activities, and in some cases neglect their families.
However, that trend is rapidly effacing as employees now seek jobs that would give them better work-life balance and incentives that positively impact their wellbeing.
As you may have rightly deduced, we are considering 2020 Workplace Trend #5, Work-life balance.
According to Wikipedia, the term ‘work-life balance’ is recent in origin, as it was first used in the UK and US in the late 1970s and 1980s, respectively. Work-life balance is a term commonly used to describe the balance that a working individual needs between time allocated for work and other aspects of life. Areas of life other than work-life can include personal interests, family and social or leisure activities.
It is now apparent to employees that business is a shared value and as such, long-term job security and attractive salaries alone are no longer enough to make them stay in a job, but a flexible work schedule will. Talents now favour jobs that avail them time for family, friends, hobbies, and self-care.
Giving credence to this point, HR services company Randstad maintains that job seekers of today claim good work-life balance invariably sway their decisions when evaluating an organisation.
“Finding and keeping good staff can be difficult especially in a tight labour market. Employers who offer work-life balance and flexible work options are likely to have a competitive edge, gain access to a wider recruitment pool, and are more likely to hold onto existing staff.” – Employment New Zealand.
Employers who understand the importance of retaining top talents in their organisations know that one of the ways to do so is to keep them happy and satisfied – this is what has bolstered the work-life balance trend in the workplace.
In a bid to appeal to suitable candidates, some organisations have begun to explore various strategies for flexible work schedules and related trends like remote work, compressed workweeks and onsite amenities to cater to employee well-being.
They do this with the understanding that when people see them as being the employer of choice, it will give them a competitive edge for attracting the right candidates who will not only join their organisation but stay and grow with it.
When you make work-life balance part of your organisational policy, you can be sure that productivity will increase and your organisation will never be short of high performing talents.