Work & life balance it’s a demand by all!
Not just a demand of Generation Y – but it’s a demand by all.
While we think of Generation Y as being demanding employees and wanting a career that will suit their lifestyle, employees of all ages value work & life balance today.
Work & Life Balance is the most influencing factor in job satisfaction across all age groups.
This is a change even as late as the recession of the 1990’s Generation X-ers (and Baby Boomers before them) were grateful to have a job. Now in this economic climate, staff of all ages are more empowered to seek work & life balance. That’s why it’s a demand by all.
86% stated that as a work priority it was important / very important to them.
Only 53% were happy with their current work & life balance.
Employers are responding to the clamour for work & life balance because they can’t afford not to. Voluntary turnover is at 14% – an all-time high, and the economy is effectively at full time employment.
In an effort to gain and keep staff, companies are investing money in work & life balance measures to reduce turnover and recruitment costs.
At a whole new level today
The demand for work & life balance wasn’t evident even a decade ago.
However today the economic times (growth, demand for labour) and the demographic times (fewer people in the working age population, decline in supply of labour) have massively empowered employees. Work & Life balance has always been a consideration in a career however never before have employees had the leverage to demand it by all people at every level in the workplace.
Today we have companies marketing an employer brand and setting forth Employee Value Propositions (EVP’s) in an effort to gain and keep staff. These EVP’s rarely focus on job security or tenure but rather flexibility arrangements and work & life balance factors.
It is important that high potential leaders understand the empowered employee is the new reality and that with work and life balance – it’s a demand by all .
Today’s skills shortages are only going to grow. Today for every person of retirement age we have 5 people in the working age population, yet by 2047 for every person of retirement age there will by just 2.4 people of working age.
