The paper "Work-Life Balance Policies in Highly Industrialised and Less Industrialised Regions of the World" is a perfect example of business coursework. Although work-life balance is a concept that has developed in the industrialised world in the recent past, it presents several benefits to both employers and employees. In this essay, the concept of work-life balance is examined in depth. This is done by comparing the impact that work-life balance policies have on industrial relations in highly industrialised regions with what happens in the less industrialised regions. The concept of work-life balance can be defined as the ability of individuals to successfully combine their responsibilities both at work and at home (Mangels 2008, p.
16). Essentially, there are two different aspects which are incorporated into the concept: work and life. Work, in this case, refers to both paid and unpaid activities that are carried out for an employer. On the other hand, life, in this case, refers to all the time that is spent in other activities other than work. Such activities include leisure and family activities. Although the balance between the two varies from employee to employee, what is important is that individuals seek to establish and maintain a stable and acceptable relationship between the two elements.
Since this relationship is dynamic and changes with the effect of different factors such as national cultures, it is argued that these effects present different advantages and disadvantages to both employers and employees in different regions of the world. Benefits associated with work-life balance for employers and employees There are several benefits that are associated with work-life balance. These benefits, which result from the impact that the adoption of work-life policies create, affect both employers and employees differently.
These are outlined next. To start with, for employers, policies that enhance work-life balance are evaluated in terms of their potential to increase the return on investment. This happens in several ways. For instance, work-life balance ensures that employers are able to successfully manage diversity among their employees (Lockwood 2003, p. 4). This is because such policies ensure that different interests are accommodated at the place of work. By successfully managing diversity through work-life balance, employers can enhance their overall level of staff recruitment and retention.
Apart from lowering incidents of conflicts and employee turnover, such initiatives ensure that the level of commitment among employees is improved. Additionally, by allowing employees sufficient time to handle other issues, work-life balance ensures that the morale of the employees is maintained. Consequently, their productivity improves, thus leading to enhanced productivity for the organisation. Another benefit for employers that arises from initiating work-life balance policies regards improvements in customer care and overall satisfaction. Since work-life balance initiatives entail allowing flexibility in the working schedules as well as telecommuting, employees are able to increase their level of engagement with the clients of the organisations.
This leads to improved customer service and satisfaction which is beneficial to the organisation. As well, with initiatives that allow workers to balance their work and life activities, organisations are able to derive direct benefits such as reduced costs of healthcare as well as non-direct benefits such as reduced losses that may arise from absenteeism as a result of stress among employees (Dhar 2008, p. 97). This arises when organisations implement specific policies that target both scheduled and unscheduled absenteeism among employees.
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