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Learn how Bobby Rahal, co-owner of Letterman Rahal Racing, achieves his professional and personal aspirations in Ohio.
Many companies are trying harder to help their employees achieve better Work:Life Balance, recognizing that better balance means happier, healthier and more productive employees. Like all initiatives, these programs must be tied to profitability. Here are a few ways that Work:Life Balance positively impacts a company's bottom line:
Increased Productivity
Studies have found a strong correlation between employee satisfaction and productivity. Employee productivity is widely known to lead to increased revenue generation, faster time to market and better customer service.
Talent Recruitment
Being known as a business that values and supports work:life balance goes a long way in recruiting top talent. Numerous studies show programs like flexible work arrangements are a key factor in choosing a job.
Employee Retention
Keeping your existing employees happy is critical. The cost of turnover is easily calculated and the bottom line impact widely understood by executives.
Reduced Absenteeism
Flexibility and balance enable employees to manage important non-work issues within the parameters of their working arrangement, thus reducing unplanned absenteeism and lost productivity.
Employee Loyalty
Work:life balance programs and respect for an employee’s personal life are shown to increase loyalty. Loyal employees are a company’s best community ambassadors and strongest internal supporters.
Lower Health Care Costs
Work-related stress and overwork can lead to numerous health issues, directly impacting health care costs for the entire organization.
Positive Public Relations
Good word-of-mouth, an award for being a “best place to work,” or a positive article about a company’s work:life balance program are all beneficial to a business’s reputation with employees, customers, partners and prospects.
