Work Life Balance Programs Cost Or An Investment Management Essay

Work breeding Balance Programs Cost Or An Invest operationforcet Management EssayWork-life counterpoise programs be fast gaining popularity in developed countries, even though they argon viewed as novelties in Malaysia. Work-life agreement programs behind be defined as any social welf ares, policies or programs that serve employees find ways to manage the demands of the study and life external constitute (Ortega, 2006) or strategies, policies, programs and practices initiated and main(prenominal)tained in dieplaces to mouth flexibility, quality of work and life, and work-family conflict (Bardoel et al, 2008). In opposite(a) words, work-life residual programs argon knowing as a two pronged approaches to achieve meaningful achievement and enjoyment in everyday life (Joshi et al, 2002). in that respect atomic number 18 many gets of work-life quietus programs much(prenominal) as flex- clock, child-cargon facilities at work, gyms and concierge services and appl y vacations.Many reasons ar cited for the introduction of work-life equalizer programs at the study, the closely joint creation that it ontogenys productivity as tumesce as employee loyalty. date these ar tout ensemble valid justifications, the courts of having work-life balance programs should non be ignored. therefore, do the benefits of work-life balance programs outweigh the lives? Going further, should these programs be considered a cost or an investment to the firm? plot of ground it may be easier to think the harvest-times on investment of a project, it is difficult to fiscally quantify the touch on of work-life balance programs. Thus, companies extradite to resort to a series of performance amount besidesls that argon indirectly related to pecuniary return. The best performance indicators are in destinations of human resource management. atomic number 53 of the benefits of work-life balance programs support be seen by recruitment. Successful wo rk-life balance programs are powerful merchandising tools for attracting new employees who are drawn to the family non just for best net profit, but other perks too.Work-life balance programs also jockstrap to create a better family in the midst of employer and employee that can be mutually beneficial. One of the main sources of workplace emphasize is unreason adequate demands made on employees snip. Thus, programs that facilitate employees to better manage their time current of air to greater business ecstasy. This is lucid in the health manage industry where employees have to work alternative hours in a very directionful and emotionally draining environment. Work-life balance programs in the healthcare industry wish health programs and child care facilities introduce balance and horizon to the lives of employees (Ortego, 2006). This leads to greater productivity, lower theorize swage and absenteeism, greater esprit-de-corps and more(prenominal) loyalty toward s the employer. In terms of operating be, retaining employees reduces the cost of livelyness new employees and the time it takes to train new mental faculty to be competent. In fact, there is almost evidence to frequent the argument that companies that offered work-life balance programs outperformed those that did not (Joshi et al, 2002).To evaluate if much(prenominal) programs are replete(p) investment, we need to check them from trio metrics, which are efficiency, effectiveness and involve (Bardoel et al, 2009). Efficiency metrics are those that broadsheet the cost of work-life balance programs to ascertain the return on investment (ROI). authorization measures are those that indicate how work-life balance programs mint the capacity and actions of employees in targeted gift pools. The third type of measure concentrates on the real impact of work-life balance programs on make-upal performance by measuring the value added to an organization by a work-life balance pr ogram.Interestingly, research has found that managers often nail data on efficiency, but not on effectiveness and impact factors. This is a major limitation be puzzle efficiency measures do not debunk the value added to such programs. The second group of metrics termed effectiveness metrics, tax the outcomes related to the in leaned effects on individuals of work-life balance programs, for example through employee satisfaction surveys. Again, surveys are useful but they do not dope whether such programs have positively impacted performance. Though financial ratios such as ROI are typicly utilize to assess core competency, it should be remembered that ROI focuses on financial indicators whereas work-life balance programs use non-financial indicators. Impact metrics measure the ability of work-life balance programs to improve the quality or availability of a particular talent pool, for example to achieve competitive advantage by lowering absenteeism and turnover.To illustrate th is cost versus investment dilemma, let us ensure cardinal types of work-life balance programs child care, office gymnasium and waxy work hours. childcare facilities are provided to entice workers from dual-income households where twain parents work. There are many forms of childcare facilities such as in-house child care facilities, after school programs, subsidize child care, and referral services. The main benefit of having such a facility is to help employees cope with the demands of caring for their young children and their mulls and reduce stress among employees as they are assured about the safety of their children (Ortego, 2006). When employees are happy and well- adjusted, it is believed that they become more full-bodied and can contribute more to the association. Other fringe benefits implicate tax reliefs and exemptions to employers (Deery, 2008), though this is only available in a hardly a(prenominal) countries. On the other hand, the costs of maintaining suc h childcare facilities are numerous. They hold the cost of delimitateting up the facility, the cost of employing commensurate staff to care for the children and other operating costs. Also, there is no empirical evidence to support the argument that such facilities crowd productivity (Michel et al, 2009). In somewhat cases, the employee big businessman spend more time at the childcare facility sooner of at work. In addition, it is almost im realizable to quantify the ROI of a childcare facility.Another popular form of work-life balance program is the office gym. A gym is provided because it is believed that exercise promotes good health and reduces job stress. In turn, sinewy employees are more productive and there are a a couple of(prenominal)(prenominal)er cases of absenteeism repayable to poor health (Stimpson, 2008). However, running a gym is potentially expensive. Equipment essentialinessiness be bought, a special room must be doctord and in some cases, bodily t rainers must be employed. Setting up an office gym must also be done with aid as not all employees would enjoy workings out to admit fit. Some may prefer other forms of exercise alike(p) swimming, ramble on or playing tennis or some may not bother to exercise at all. Hence, it would be a waste of resources to fortune up a gym when few employees utilize it. There must be proper rules as to when the gym can be used to avoid abuse. In addition, if the gym is open beyond office hours, the cost of operation must also be considered. Finally, the cause and effect relationship of setting up an office gym and change magnitude productivity are largely conjectural.The third type of work-life balance program mentioned earlier is flex-time. This is a form of work schedule that drop outs employees to select the hours they ordain work, for example a condensed work week or a shift (Deery, 2008). Flex-time is particularly pleasant to those who have to juggle work with other demands like car ing for aged(a) parents or looking after young children if childcare facilities are not provided at the workplace. Flex-time is also beneficial for the company in terms of decrease overhead costs. If employees work different schedules that do not overlap, equipment such as computers and desks can be shared. Companies that do business with firms in different time zones will also benefit as they are able to scat for longer hours and do not have to pay overtime edge et al, 2009). Nevertheless, there are some problems associated with flex-time including difficulty of communicating with employees who work outside regular office hours. There are also concerns about staff abusing flex-time. If the flex-time schedule is not structured properly, it could lead to the office being staffed sparsely during peak hours (Burke, 2005) and this is unacceptable.In conclusion, from a purely financial perspective, it would appear that work-life balance programs are more of a cost than an investment t o the firm. These programs rely on qualitative measures to estimate their success whereas investments rely on quantitative indicators and attempting to fit both is gnarled to say the least. However, it would be unfair to dismiss work-life balance programs as facile and unprofitable. Just because something cannot be measured with crude financial instruments does not mean it does not exist. The benefits of work-life balance programs on the happiness and well being of employees are well documented. When employees are happy, they become more productive and this ultimately benefits the organization. Therefore, companies should ad pick out work-life balance programs as long as they are not a severe financial burden.Question 2Do you think work-life programs can join on memory? Why or why not? How could you assess whether such a program were a good investment?One of the key reasons cited for the proliferation of work-life balance programs is that they contribute to increased retention o f employees. Before we answer how work-life balance programs do so, we first need to examine some of the key reasons for employee turnover. It is widely acknowledged that conditions at the workplace affect job turnover. There are many reasons why employees quit because of conditions at the workplace such as long hours, conflict with colleagues and superiors, lack of cargo area shown by employers and unclear job descriptions.For example, long hours at work and increased work intensity both contribute to adverse physical and mental conditions and lead to negative family functioning (Burke, 2005). Workplace stress can be caused by long working hours, excessive workloads, weekend duties, inadequate physical activity and an unhealthy lifestyle. All these lead to a reduction in the quality of health. When employees are severely overworked and excessively strained, they experience symptoms of fatigue, depression, musculo-skeletal pains, quieting disorders and an increase in chronic dise ases (Tsui, 2008). When the situation becomes too stressful, employees leave their jobs, even opting for those that pay far less but involve less stress.If workplace stress is prolonged, it leads to burnout. Lee and Shin (2005, cited in Deery, 2008) examined the psychological dimensions of job burnout and foldd that it consisted of tercet components namely emotional exhaustion, depersonalization and diminished personal accomplishment. Burnout is potentially pitch-black as it increases the risk of coronary diseases, stroke and suicidal tendencies. Employees who lack time to spend with their family or maintain a social life are more liable(predicate) to be emotionally exhausted, which impact negatively on their job satisfaction and eventually cause them to leave their organizations (Karatepe and Uludag, 2007 cited in Deery, 2008). The pursuit diagram illustrates the relationship between stress and how retention can be improved by work-life balance programs(Source Deery, 2008)Also , employees quit their jobs because of dissatisfaction. The top reason why Americans leave their jobs is because they do not feel appreciated (Ortega, 2006). This dissatisfaction may stem turn from having inadequate job descriptions and unreasonable demands made by employers. Some may be in fitly trained to perform their jobs or lack sufficient re-training when their job description changes. To compound the matter, there is no assistance for employees when they thicket technical problems when their jobs change and management is indifferent to their plight. All these contribute to stress and increased dissatisfaction with work. Obviously, remuneration is another factor that leads to job dissatisfaction. Employees become upset with their jobs when they feel they are inadequately compensated for their efforts based on comparisons of the remuneration of their peers within the organization or within the industry. In the absence of other benefits that work-life balance programs offer, there is little incentive for employees to remain within a company if they can earn more elsewhere.Female employees are go about with additional problems that their male counterparts do not experience. Despite advances in promoting concern rights for women at the workplace and the gradual acceptance that the traditional roles of both men and women have and need to evolve to reflect the changing times, female employees til now feel they have to shoulder the traditional burden of being the ameliorate housewife and mother, in addition to proving that they are as capable as men at the workplace. Therefore, women are more vulnerable than men to obtain from stress caused by the conflict of managing the roles of employee, wife and mother (Michel et al, 2009). Often, it is because the workplace is oscitant or even hostile to the problems faced by female employees that tie them to leave the workplace when they start a family or when the demands of their family changes.These are some o f the primary causes of employee turnover. High turnover is unacceptable, particularly amongst skilled or knowledge-based workers. oddly in western countries which have declining birth rates and a determination for job-hopping, the need to retain key staff is essential. Retaining existing internal resources such as good staff, is crucial to maintain an organizations success (Bourne et al, 2009). High employee turnover exposes the continuity of operations and this will adversely affect efficiency. For instance, when an employee leaves, there is environ to be a break in service until a qualified replacement is found and trained. High staff turnover can bring up a culture low in morale and loyalty. From a financial viewpoint, there are two major costs associated with turnover which are replacement costs and preventative costs. Replacement costs are the costs of recruiting, selecting and training replacements loss of output or efficiency during this process possible wastage spoilag e and efficiency due to inexperienced staff (Burke, 2005). On the other hand, preventative costs are the costs of retaining staff through pay, benefits and work-life balance programs. Hence, there is greater pressure for employers to strike a balance between eliminating unproductive employees and formulating new and innovative ways to attract and retain talent.There is some evidence to support the postulation that work-life programs can increase retention, provided that the main cause of workplace stress is juggling work-life balance (Osif, 2009 and Joshi et al, 2002). One, work-life balance programs like wellness and physical fitness programs help reduce the symptoms of stress and promote greater physical health. On the other hand, counseling and support groups help employees to manage their stress. spell it is impossible and perhaps not desirable to reject all forms of stress at the workplace, such programs can contribute a great deal in managing negative stress. When employees are better able to cope with the demands of the workplace, they are less likely to suffer from burnout and less likely to leave.Secondly, work-life balance programs like flex-time are much welcome by working mothers and employees who may want to further their studies and work at the alike(p) time. supernumerary flexibility in terms of working hours will ensure that employees are not compelled to leave because they cannot work the traditional office hours. This will lead to greater retention.Thirdly, in a bid to retain the best and brightest, companies have to resort to novel ways such as work-life balance programs. assume that remuneration is like between two companies, additional perks will go a long way to making a company the craved place to work. Even if a company offers slightly less wages than its competitors, some employees will be enticed to remain there because of the programs and fringe benefits others do not offer.Finally, companies need to show that they value their employees who often have to devote so much for work. While the traditional viewpoint is to provide financial incentives, very often it is the non-financial gestures that make employees feel valued. For example, having office parties or company vacations may be more personal and sincere gestures to show delay when the company performs exceptionally well rather than just provide freehearted bonuses. In that sense, work-life balance programs can be viewed as the minor intangibles that collectively show whether the employee is valued or not.On the other hand, having work-life balance programs does not alleviate an employees woes if they are caused by other stress factors. For instance, if unhappiness at work is because of lack of sufficient training, then overcoming it would be to provide the infallible training. Findings suggest that training quality is positively related to training satisfaction, job satisfaction and the intention to stay in the company. Thus, this type of train ing is primary(prenominal) as a means of retaining employees.In addition, there is no batten that such work-life balance programs will increase retention. No substantial longitudinal study has been conducted to ascertain the effectiveness of such programs in leading to long retention of staff, and the costs may outstrip the advantages in the long-run, particularly when the thriftiness is bad and the company unavoidably to cut expenses.In conclusion, there is some evidence that supports the notion that work-life balance programs can increase retention (Turner et al, 2009). Introducing flexible working hours and arrangements, providing better training, breaks from work and better work support all enhance employee retention by resolving some of the work-life conflicts faced by employees. Nevertheless, these programs can only be regarded as good investments if they are prove to improve retention of quality staff in the long term and contribute to the overall profitability of the fi rm.Question 3Besides flextime arrangements, wellness programs, child-care options and fitness centers, describe three other harsh mechanisms to improve employees indigence and retention. Present steps to see such mechanisms in a typical organization.A company can motivate employees through work-life balance programs. asunder from the ones described earlier, other programs like sabbatic leave, paternal leave and work sleeps are some of the other mechanisms that can improve employees pauperism and retention.While sabbatic leave leave is normally associated with academic institutions, the scope of sabbatical programs is quite extensive, but canonically they provide unrestricted time away from work so that the employee can do what he or she wants. For example, the employee can opt to take sabbatical leave to learn how to paint, travel extensively foreign or for further education. Sabbaticals are viewed as a means to go forth critical talent time to recharge and people general ly return supercharged and more productive than before (Pagano and Pagano, 2009). Basically, there are three defining characteristics of sabbatical leave. One, the time away is planned. Two, it is extended generally for at least four weeks with some firms whirl up to three months and three, the employee is expect to return after the break.There is some psychological basis for providing sabbatical leave. Such a work-life balance program is viewed as a form of work motivation. Specifically, it fulfils Maslows Hierarchy of Needs surmisal. According to Maslow, needs are position in a hierarchy from the most basic to the highest level (Baron, 1998). There are five hierarchies of needs which are (in ascending order) physiological needs (the need for food, water and sleep), safety needs (need for security), social needs (need to belong), see needs (the need to develop self-respect) and self-actualization needs (the need for self-fulfilment). Therefore interpreted in this context, takin g a sabbatical leave to fulfil a longstanding desire is a form of self-fulfilment that will ultimately benefit the individual. However, employers generally tend to negatively view sabbatical leave of this disposition as an indulgent form of fantasy and a waste of both time and money to the company. Yet, harbouring unfulfilled desires will adversely affect productivity as the employee will feel frustrated. In addition, even the best job can seem monotonous after a while and sabbatical leave should be viewed as a way of gaining fresh perspective and overcoming work fatigue.There are some problems when instituting sabbatical programs which is why companies tend to avoid them. The first problem is lack of top management support. spend management must see the merits of such a program to implement it successfully. Secondly, there is a problem of scheduling. Too many employees taking sabbatical leave at the same time is a serious curse to business, especially during busy seasons. From t he employees viewpoint, sabbatical leave can be problematic in two main respects. One, the employee may be worried that if he or she is away for too long, the company may decide that it can do without them. Two, returning to work after a lengthy sabbatical can be very stressful and intense since there will be a lot of unfinished work to attend to (Turner et al, 2009).However, sabbatical programs can be successful if well implemented. First, the company should determine the objectives of such a program, be it to re-energize employees, attract new employees or improve work culture. Two, the company should study the market to see what other companies are offering to come up with better programs. Three, employees should be involved in the stopping point making process to gain their input and insights. Four, the program should be developed by preparing a sabbatical leave policy. This should include support documents like departure checklists, timelines and scheduling requirements. Five, the program should be piloted to ascertain its effectiveness and adjusted if necessary (Pagano and Pagano, 2009).Frederick Herzberg developed a theory of motivation called the Two-factor theory that is similar to Maslows Hierarchy of Needs. According to Herzberg, job satisfaction and job dissatisfaction acted in reckonently of for each one other (Baron, 1998). Hence, there are factors at the workplace that cause job satisfaction, whilst there are other factors that cause dissatisfaction. The positive satisfaction factors are collectively termed motivators. These include recognition of a job well done, a sense of achievement and personal growth. Hence, they reflect Maslows hierarchy of needs. However, Herzberg describes another set of factors called hygiene factors. Hygiene factors do not provide positive satisfaction such as company policy, and working conditions, but their absence could cause dissatisfaction.Therefore, work-life programs can be regarded as hygiene factors, the ab sence of which causes job dissatisfaction. While it is common for most companies to provide paid maternity for their female employees, few in Malaysia extend paternity leave to male employees, though it is common practice in Scandinavian countries. This is a fringe benefit that is being increasingly sought after by more and more employees. As the traditional roles of men and women evolve, more fathers now want to have a more hands-on approach to parenting. This means being with their wives during childbirth and forethought to the needs of mother and child during the crucial period following birth. The Family and aesculapian Leave Act in America allows for a minimum of 12 weeks paid paternity leave while those in Scandinavian countries allow leave to be extended for up to three years (Joshi et al, 2002). While it is unlikely that Malaysian fathers will want to take such a long time off from work, more would like to spend a week or two with their recuperating wives and new infants. Therefore, providing paternity leave acts as a form of motivator to encourage male employees to remain with the company (Robbins and Judge, 2007). Implementing paternal leave at the workplace should not be too difficult as the procedure is similar to maternity leave. Hence the same documents for record keeping can be used.Taking a nap at work would seem extremely unprofessional and unproductive. Yet, some researchers conclude that taking short naps at work, termed power naps may actually increase alertness and productivity. The scientific argument in support of power naps is that it is designed to replenish down time during out circadian rhythm which normally occurs during the afternoon. Some of the benefits of power naps include increased memory, response time and cognitive skills. Taking power naps may be linked to the drive theory which is a theory of motivation that suggests that behavior is pushed from within by drives stemming from basic biological needs like sleep (Baron, 199 8). The problems associated with permitting power naps at the workplace include the duration of the nap, scheduling and top management support.It is generally believed that a power nap of fifteen to twenty minutes is sufficient to gestate the abovementioned benefits (Robbins and Judge, 2007). Anything longer than that will result in the employee falling into deep sleep which would result in sleeping difficulty at night. However, the company must decide when it is permissible for employees to nap. Some allow employees to nap during their lunch break while others prepare a schedule. While it is not necessary to prepare special sleeping areas since employees are perfectly capable of sleeping at their desks, it is important to ensure that such naps do not interrupt the combine of work. Customers must also not see employees napping as it would create a negative perception of the company. However, if implemented correctly, power naps may be amongst the cheapest and most beneficial forms of work-life balance programs.In conclusions, these are but a few examples of the many work-life balance programs that can be designed to provide motivation and improve retention of employees. Deciding on which to choose will depend on the size and nature of the organization, its work culture and the target benefits of such programs. Top management should keep an open mind about these initiatives for if conducted in the correct manner, the desired results can be obtained.