Work Life Balance Benefits
Organizational benefits
The benefits for organisations that have strategies and support mechanisms in place to assist staff in managing their work-life balance are widely documented and include:
• the potential to attract high quality, innovative and productive staff in an increasingly competitive labour market
• higher levels of staff morale, job satisfaction, organisational commitment, dedication and loyalty amongst existing employees resulting in retention of current employees whose skills, knowledge and talents are invaluable
• reduced employment costs associated with recruitment, training, absenteeism and work related accidents (The cost of recruitment has been estimated by the Victorian Auditor General’s Office to range from 0.5 to 2.5 times the annual salary of the position to be filled – this means that the cost of recruiting a HEO7 with an annual salary of $56,000, for example, would cost the University approximately $84,000-140,000.)
• an enhanced public perception of the organization as one that demonstrates an appreciation of flexibility in work to assist staff to manage their work-life balance.
• Increase in concentration at work reduces mistakes at work due to which wastage levels are cut thru also work related accidents are reduced.
• the quality of their work is likely to improve.
• More innovative ideas as employees care about their job.
Individual Benefits
Individuals who maintain a balance between work and other commitments or interests:
• are better able to manage multiple responsibilities without feeling guilty about sacrificing priorities at work or outside
• are more likely to feel in control of their life because they have choices, as opposed to feeling as if they are being forced to sacrifice work or other priorities
• may feel more secure, happier – and thus motivated – working for an employer that supports their right to make choices between work and home life.
• Experience personal satisfaction and professional
The benefits for organisations that have strategies and support mechanisms in place to assist staff in managing their work-life balance are widely documented and include:
• the potential to attract high quality, innovative and productive staff in an increasingly competitive labour market
• higher levels of staff morale, job satisfaction, organisational commitment, dedication and loyalty amongst existing employees resulting in retention of current employees whose skills, knowledge and talents are invaluable
• reduced employment costs associated with recruitment, training, absenteeism and work related accidents (The cost of recruitment has been estimated by the Victorian Auditor General’s Office to range from 0.5 to 2.5 times the annual salary of the position to be filled – this means that the cost of recruiting a HEO7 with an annual salary of $56,000, for example, would cost the University approximately $84,000-140,000.)
• an enhanced public perception of the organization as one that demonstrates an appreciation of flexibility in work to assist staff to manage their work-life balance.
• Increase in concentration at work reduces mistakes at work due to which wastage levels are cut thru also work related accidents are reduced.
• the quality of their work is likely to improve.
• More innovative ideas as employees care about their job.
Individual Benefits
Individuals who maintain a balance between work and other commitments or interests:
• are better able to manage multiple responsibilities without feeling guilty about sacrificing priorities at work or outside
• are more likely to feel in control of their life because they have choices, as opposed to feeling as if they are being forced to sacrifice work or other priorities
• may feel more secure, happier – and thus motivated – working for an employer that supports their right to make choices between work and home life.
• Experience personal satisfaction and professional