Many businesses are laser-focused on maximizing profits, which often means that employees are forced to work long hours and make other personal sacrifices. Some employers view the concept of work-life balance with skepticism and believe that it will lead to a culture that will cause workers to become unmotivated.
However,
providing employees with work-life balance results in intangible
benefits that ensure the long-term success of any business. Many
high-performing employees leave their jobs to devote more time to their
families. High salaries are not enough to retain these individuals, who
are lured by other firms that provide other attractive benefits that
make up for the loss in pay.
Work-life balance is a critical issue that employers must address,
particularly in light of changing worker expectations. Millennial
workers in particular are unlikely to stay with firms that do not allow
them sufficient time to pursue their outside interests. This attitude
is in stark contrast to that of older workers, who often take pride in
their workaholic tendencies.
Businesses lose significant amounts of money from employee attrition due to the high costs of recruiting, training and hiring new talent. Further, high rates of attrition lead to major losses in productivity as employees who are already stretched to the limit have difficulty in picking up the slack. Over the long-term, employees who have work-life balance are happier, healthier and more motivated to produce high-quality work that increases profits than employees who are burned out after years of working nights and weekends.
Smart employers realize that achieving work-life balance is as important to the future growth of the company as it is to the employees who crave it. CPEhr can help your business craft attractive benefit packages and policies to satisfy employees who demand work-life balance.
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