Over the past few years, a common thread has emerged in surveys and research of employers and employees, and it’s all about one simple but critical aspect: happiness at work. A growing number of employers across all industries have started to understand that employee happiness isn’t just nice to have, it’s imperative! The bottom line: happier employees perform better, and happier employees stick around.
And while money and financial rewards continue to be important motivators, studies and surveys have shown time and time again that money is not the be-all and end-all of employee satisfaction. In fact, many employees have been placing more value than ever on something much more important than a high salary: a sense of well-being and fulfillment in both their personal and professional lives. The message is clear: employers who want to attract and retain the best employees need to look beyond the paycheck.
Work-Life Balance
Work-life balance has been ranked as the most important factor in job satisfaction for workers. But what exactly is “work-life balance” all about? Simply put, it’s about how we split our time between work and the rest of life. It’s the balance between our career and our life outside it.
The term work-life balance itself is relatively new: it can be traced back to research on work conditions from the 1960s. At the time, the people doing the studies were management scholars. They set out to understand how organizations could best manage the time, resources, and energy of their workforce to make them as productive and satisfied as possible.
The rapid growth of information technology in the late 20th century has brought profound changes to how and when people work. Leaving work “at the office” was once as simple as locking up at the end of the day and forgetting about it until you returned the next one. But for many people in our hyper-networked, digital world, that’s not the case. Mobile phones, remote access to computers, and email that alerts you to each new message from your coworkers. all these things mean that employees are expected to be available 24/7. It also means that they are available 24/7. This new constant connectivity has brought new stress and reshaped what balance in the 21st century means.
Why it Matters
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Who is responsible for maintaining a healthy work-life balance? It depends! Some people believe it's their own personal responsibility, while others turn to supervisors, and some expect the government itself to create mandates and regulations. It is most likely the responsibility of all of these entities working in unison.
Employers need to maintain a healthy work-life balance as a form of competition: in this competitive job market, benefits such as flexible schedules, remote working opportunities, and respecting an individual’s private life have led to lower employee turnover, happier employees, and a more productive workforce. Employees also benefit by lowering their stress levels and improving their physical and mental health, leading to an increase in their general satisfaction.
It is evident that the modern-day workforce has shifted its views on success. Success is no longer gauged by dollar signs and promotions, but rather on employees finding a fulfilling life. If an employer is willing to recognize that, they will be rewarded tenfold with a happy, loyal, and productive team of employees.
