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Benefits of Work-life balance

Benefits for you

Employees in companies already implementing work-life balance practices enjoy significant benefits such as:

Some things employees may want:1:

Benefits for your business

Good work-life balance policies and practices are good for business.  Some of the benefits for you and your staff are:

Getting and keeping the right staff

Finding and keeping good staff can be difficult especially in a tight labour market.

Employers who can offer work-life balance and flexible work options are likely to have the competitive edge, gain access to a wider recruitment pool, and are more likely to hold onto existing staff. 

As a result of the flexible working arrangements and other work-life balance initiatives, Harrison Grierson have increased retention of graduates and women returning from parental leave.

“We estimate that the savings over the past three years through retaining employees who have returned to work after a period of parental leave are worth more than $300,000," says Raewyn van Lingen, Franklin Kindergarten Association, winners of the EEO Trust Large Organisation Work-Life Award 2007.

Getting the best from staff

Poor work-life balance can lead to stress and absenteeism, and low output.  Helping employees achieve work-life balance is integral to their general health and wellbeing, increasing their work satisfaction and motivation.  They are likely to be more committed, more flexible and more responsive to the business and customers’ needs. 

"It's a wellness thing but it's also a monetary thing. You've got to have employees who are engaged, who are feeling good and who want to come to work. The alternative is to have highly stressed, underproductive people.”  Lisa Gunnery Chief Operating Officer of Insurance Operations, Southern Cross, winners of the EEO Trust Manaki Tangata Innovation Award 2007.

Being an ‘employer of choice’ and future proofing

Being an ‘employer of choice’ can give you the competitive edge for attracting talent.  Employees who are positive about their workplace help to foster a positive attitude in the wider community.  Increasingly businesses are adopting practices that make a positive difference for the environment and society.  Staff are a vital business resource, so it makes sound business sense to develop and protect this resource.

“IAG New Zealand sent out an army of volunteers on two projects during Volunteer Awareness Week. They planted natives at Kaitoke Regional Park and repaired, painted, cleaned out, polished at Riding for the Disabled in Kenepuru.” Volunteer Wellington News from the Edge reporting on their 2007 Corporate Challenge.

Improving productivity

Getting and keeping the right staff and getting the best from them will help to increase productivity.  Costs associated with recruitment, training and absenteeism will reduce and employees will be more engaged motivated and committed. 

…initiatives to encourage work-life balance do have a positive impact on engagement and productivity provided the workplace culture supports use of the initiatives - EEO Trust research 2007.

To find out about other ways to improve your productivity visit our productivity pages.


Footnote

1 Adapted from www.employersforwork-lifebalance.org.uk