Thursday, 8 September 2011

Insights into WLB & Gen Y

Balance it right!
  • A startling 85% of recruiters say that candidates turn down job offers from employers that aren’t work-life balance-friendly. According to a work-life balance survey 80 per cent of executives say that work-life balance as a parameter plays a vital role during the job search process. 
  • Work-life balance today directly impacts the retention of top executive talent. An unhealthy work-life balance leads to increased stress, strain on personal relationships and a lack of personal fulfilment. All of these factors will push executives towards greener pastures. Other aspects like compensation and perks are of a transactional nature. 
  • According to some, the degree at which work-life balance influences the decision of a job-seeker is closely linked to one’s age and the nature of the role the employee has chosen to perform. 
  • According to the AESC survey, two-thirds of companies are developing programmes to help top candidates boost their family time without sacrificing their careers.

Making it work :) 
  • Time-out: It is an efficient tool by which every employee is given an opportunity to choose time-out during work hours.This can be followed on a daily/weekly basis depending on the nature of the business. An employee can take 30-45 minutes of time-out to read, listen to music, play an indoor game, take a nap, exercise, practice yoga, watch a movie, etc. But at the same time, the employee must be within the company premises at a dedicated space allocated to pursue such activities. 
  • Child care: It’s necessary to develop a children’s programme for working mothers/fathers wherein companies need to invest in a separate space where a working parent can spend time with their kid/kids during work hours. A progressive firm needs to make arrangements w.r.t school pick-up/drop and other basic amenities in the form of indoor games, stationary, food, etc. 
  • Personalize your workspace: The offices are likely to provide much more than just a cubicle. You will find the office space designed to take care of employees’ “needs” beyond work. 
  • Work-exchange: Creating a “trading place” where employees can opt to pursue something that they aspire to pursue (read: hobby) will foster positive results. 

How Gen Y today defines and perceives work-life balance?
  • The Gen Y job-seeker has different priorities/aspirations. Experts say that besides a good salary, they show concern w.r.t flexible working. “While compensation, career growth, importance of the task performed, etc are important, work-life balance assures employees that they will work in a conducive environment"
  • “The whole phenomenon of ‘my own space’ seems to be the flavour of the day, especially for Gen Y,” According to a recent study across Asia Pacific, work-life balance is the single largest contributor to the Gen Y group of employees who are anticipating a change in their career in the next five years. 
  • On being asked the reason for not having aspirations to advance to an executive position, they again attributed as the impact it would have on their work-life balance as the prime reason. 
This post is a series of snippets from the ascent and various other reports that has been compiled to share insights into work life balance, looking at things that work and managing a young a vibrant workforce in the years to come ! 

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