More than one in four employees (27 percent) at organizations that are not perceived to support work-life balance plan to leave their companies within the next two years, according to our latest research at Hay Group. That’s compared to only 17 percent of those at companies that ranked among the top quartile for support of employees in achieving a reasonable balance between work and personal life. For an organization with 10,000 employees, a 10 percentage point reduction in turnover over two years would result in savings of $17.5 million (assuming an average salary of $35,000 and an average replacement cost of 50 percent of salary).
At the same time, work-life balance concerns across the globe are on the rise, with 39 percent of employees in Hay Group Insight’s 2012 normative data indicating that they did not have a “good balance” between work and personal life, compared to only 32 percent who reported the same in 2011. Concerns also persist about the number of workers available to complete the work required, with the majority of employees (52 percent) reporting that there are not enough people to do the work in their area.
In this webcast, we’ll reveal:
Why tactical solutions like telecommuting options or flexible work schedules will not be enough to successfully address mounting work-life balance concerns.
How you can create a working environment that can help employees accomplish work tasks as efficiently as possible, leaving more time to attend to personal responsibilities.
How you avoid your best talent from either burning out or walking out