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Work/life balance improves profits
Small companies that help employees achieve a good work/life balance earn 20% more per year from each employee, according to research conducted by talent development firm Morgan Redwood.
The businesses surveyed understand that a good work/life balance is important with 93% believing there is some connection between the wellbeing of their staff and the performance of their business and 58% saying they are very closely linked.
Redwood's study shows average net annual earnings per employee of £26,557 but this figure rises to £32,769 in companies which take care to ensure staff have a good work/life balance as it reduces absenteeism, improves wellbeing and increases productivity.
"We all instinctively know that a good work/life balance matters - but to have the actual value of it quantified is a breakthrough moment," said Janice Haddon, managing director of Morgan Redwood.
"It means that when weighing up different management options, companies have some real numbers to factor into their decision making. This means that a change that perhaps will save money in the short term, but put additional workload onto staff, can be properly assessed."
Post Date: October 12th, 2009
The businesses surveyed understand that a good work/life balance is important with 93% believing there is some connection between the wellbeing of their staff and the performance of their business and 58% saying they are very closely linked.
Redwood's study shows average net annual earnings per employee of £26,557 but this figure rises to £32,769 in companies which take care to ensure staff have a good work/life balance as it reduces absenteeism, improves wellbeing and increases productivity.
"We all instinctively know that a good work/life balance matters - but to have the actual value of it quantified is a breakthrough moment," said Janice Haddon, managing director of Morgan Redwood.
"It means that when weighing up different management options, companies have some real numbers to factor into their decision making. This means that a change that perhaps will save money in the short term, but put additional workload onto staff, can be properly assessed."
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Post Date: October 12th, 2009
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