Hire and Retain Talent by Offering a Superior Work-Life Balance

July 13, 2016
Category
Topics
Share this article
successful-business-group

A recent study in the American Sociological Review found that a strong work-life balance results in happier employees.

In fact, employees in the experimental group (given work-life balance options) “met their goals as reliably as those in the control group, and they were, in short, much happier: They were sleeping better, were healthier and experienced less stress,” according to a recent New York Times article. “Other studies examining the same workplace found that the effects even cascaded down to employees’ children, who reported less volatility around their own daily stresses. A year out and then three years out, employees in the experimental group reported less interest in leaving the organization.”

The more you know about the effects of work-life balance options on the health and happiness of your employees, the more likely you will want to offer them. It may be a moral imperative. At the very least, it’s a great way to attract and retain top talent, and to compete against rivals who may be able to offer higher salaries.

Flexibility is the idea behind the concept. Employers can provide flexibility by giving employees more control over their work schedules. Here are a few proven and attractive ways to offer a superior work-life balance:

Job Sharing – Ideal for mothers with young children in school, this option enables two part-time employees to do the work of one full-time employee.

Costs: Assuming the combined salaries equal the salary for that same single position, offering two people benefits will cost the employer more.

Benefits: This widens the pool of candidates available to the employer.

Work from Home – Urban sprawl may be the mother of telecommuting, which allows employees the flexibility to work some or all of their hours from home.

Costs: The employee has less ability to collaborate with on-site colleagues. Offering this to some may reduce morale for others who are not offered the option.

Benefits: This removes the proximity barrier to hiring, and for those employees who might leave because of a rough commute, they’re enabled to stay.

Flextime – There are several ways to implement flextime. You can give a weekly hourly requirement and allow employees to put in those hours however they choose. You could also offer an hour range say, from 35-40 hours per week, with a monthly average say, of 38 hours per week. Or you could simply require that the work be done and done well, with no focus on the time spent.

Costs: Some employees will lose motivation without the daily hours being imposed.

Benefits: Access to super moms and dads, and other talented people with obligations outside of work who will be able to balance their workloads with other demands.

Compressed Workweek or Summer Schedule – This arrangement allows employees to complete the required number of weekly hours in one less day. Employees can get to 40-hours by working four 10-hour days instead of five. We see plenty of companies that alternate compressed workweeks with normal 5-day workweeks. To do this, divide your staff into two groups, so there will be one group working a 5-day workweek while the other group works four days. Other companies offer compressed workweeks as a summer option.

Costs: Some employees won’t perform as effectively after 8 hours in one day.

Benefits: Compressed workweeks may reduce unplanned PTO, since there will be more 3-day weekends for workers to decompress and get things done.

Whichever forms of flexibility you choose, it’s critical for morale to offer these options to all employees and not a chosen few. It’s also important that managers not offer these options grudgingly. The same New York Times article reported that in a nationwide survey, 96 percent of employees said they have some degree of flexibility, but only 56 percent believed their employers were supportive of their rights to exercise their options.