Over the last several years, there has been much discussion about work-life balance. Although there does not exist some universal definition of work-life balance, the idea behind the concept is that employees are able to balance the demands of the job with their personal life in a way that ensures a sense of satisfaction or well-being. But do employees think they have a good work-life balance at their company?
According to the 2017 Health and Workplace Benefits Survey, a joint survey of the Employee Benefits Research Institute (EBRI) and Greenwald & Associates, 49% of employees indicate their work-life balance is either excellent or very good at their company. Another 32% believe that their work-life balance is good. Less than 20% state their work life balance at their company is fair or poor.
Although there is room for improvement in terms of employees viewing the work-life balance at their company as strong, this finding does highlight that almost half of employees are experiencing a positive work-life balance at their current job. Interestingly, when asked whether they would give up a wage increase next year to increase work-life balance benefits like paid-time off or telecommuting, 44% of employees say they would, showcasing the value that employees place on benefits that improve work-life balance. For employers looking for ways to attract and retain employees, assessing their current work environment and the benefits that improve work-life balance will be important.