The paper "Work-Life Balance Is Only Applicable in Good Economic Times" is an outstanding example of management coursework. Throughout the years, the "role" of work has shown a significant change. It is obvious that we are living in a period that business is becoming more and more global, thus more competitive. Many people dedicate their life in their job, trying to make a successful carrier. Some have referred to work as an addiction (workaholic). The more time people spent on their work, the less amount of time they have for their private lives.
That phenomenon had a very strong and effective impact in the United Kingdom. Men in the U. K work longer hours than any other country in Europe. Lately, both, E.U and U. K have been developing a policy to encourage better "work-life balance" for the British and European workforce. When we think of balance we often think of it as "work-life balance" but, perhaps it is more suitable to think of "life balance". Although work is a vital part of everybody's life, there are some other parts that should also be considered: family, personal development, entertainment, physical environment, health, finance, etc.
Work-life balance is aiming in a sense of better quality in people's lives. Work-life balance is basically inconsistency or hindrance between the quality time divided between work and family (Frone, 2002). A harmonic balance in people's lives will significantly affect their effectiveness and efficiency in the work environment in the short-term as well as in the long-term. Work-life balance primarily affects five key areas: employee time saved; employee retention; increased motivation and productivity; absenteeism; and decreased healthcare costs and stress-related illnesses. (Lockwood, 2003) Work-life balance is about adjusting properly the time between work and personal life.
Work-life balance gives the opportunity to people to maintain balance to their lives as well as to attain their carrier goals. It is very important to understand that work-life balance does not refer only to the company's obligations to the employee, but also redefines the responsibilities of the employees considering the organization's objectives. Most important relates to what individuals do for themselves. However, when employees have to face bad economic times it becomes difficult to maintain such a balance, as employees need to support their families thus they pay more attention to work and less attention to their personal lives.
The fact that the stress in their lives becomes extremely high and thus they cannot maintain a balance between work and personal issues. Even the quality time with their family becomes less and work also starts to feel as if it is a burden. This paper shall give a detailed analysis of how the Work-life balance is cannot be maintained during bad economic times. Analysis Many economic analysts have supported the Work-Life Balance campaign, strongly indicating its positive effects in the business environment.
However, a lot of organizations and companies think twice before adopting new practices yet, for a variety of reasons, waiting for someone else to make the 1st step. The current economy has created near-double-digit unemployment rates, caused organizations to reduce working hours for many individuals who would prefer to be working more, and ensured that the majority of employees have at the very least not seen their pay increase (and in many cases have seen it decrease). In this environment, employees are both less likely to take advantage of some work-life benefits for fear of being "out of sight, out of mind" and risking losing their job, and more likely to place a higher value on the comfort and security that cash offers (Ackerman et al 1997).
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