Give staff decent level of work-life balance, they’ll repay you with extra loyalty and that translates to dollars saved on staff replacement.
That’s the gist of paper presented to the recent Helping Families Change Conference by FX Consultants director Stuart Forsyth. After applying additional analysis to the 2002 Pohlen Kean Work Life Balance Survey (which attracted 1187 responses from staff at 25 New Zealand organisations), Forsyth estimated an organisation would realise an average per-staff benefit of $1550 for each increment in staff perception that their employers are providing work-life balance support.
The benefit varies according to salary level – from $300 up to $6300 for managers earning around $80,000 as the latter are more expensive to replace.
He notes that 45 percent of staff and 40 percent of managers say they either rarely or never see work-life balance support and says its provision therefore represents “a significant savings opportunity for many New Zealand businesses”.
CEO guides to navigating climate risk and building industry resilience – WEF
Businesses must act now to address growing climate risks or face steep financial losses, according to two new reports released by the World Economic Forum. The forum says in a