By: Vinod Chandrashekhar Dixit
Banking industry is an emerging industry in India, the entry of private sector and foreign banks have brought various essential changes in the banking industry. Work-life balance in Banks has been in the news a lot recently. What does this mean for those in HR or leadership roles? Work-life balance is the state of equilibrium where a person equally prioritizes the demands of one’s career and the demands of one’s personal life. Some of the common reasons that lead to a poor work-life balance includes increased responsibilities at work, Working longer hours, increased responsibilities at home&having children. Work–life balance is a concept which includes proper prioritizing between “work (career and ambition) and professional life and personal life. “Lifestyle”(health, pleasure, leisure, family and spiritual development/ meditation).
Work-life balance is great. Historically, the banking industry has been characterised by long, intense working hours. Bank employees take painful efforts to deliver to the multiple needs of their customers. As employees are logging in more hours, work-life balance has become an increasingly important factor to overall satisfaction in the workplace.
Now a day’s managing work life balance is a challenge for different lives, a good working definition of Work-both employers and employees particularly in service Life Balance is: industry where employees are loaded with work at workplace and at the same time they have to balance their Meaningful daily Achievement and Enjoyment in each personal life. When creating a schedule that works for you, think about the best way to achieve balance at work and in your personal life.Your overall physical, emotional and mental health should be your main concern. Prioritizing your health first and foremost will make you a better employee and person. Work life balance= Time management + Stress management.
The menace of work- life imbalance is noticeable in banking industry. Employees in the banks take painful effort to deliver the various needs of its customers. Work deadlines are getting compact and the individual’s jobs are loaded and added with quality output. Due to work in pressure, it becomes hard to maintain balance between professional and family life.
Work life and personal life are two sides of the of the four life quadrants: same coin.It is important to understand how key balance is to creating engaged and happy workers. Maintaining a healthy work-life balance is not only important for health and relationships, but it can also improve your employee’s productivity, and ultimately performance. A healthy work-life balance allows everyone to excel at work and take care of their personal wellbeing outside of the office. There are lot of benefits for work life balance as its policies provide the ability to manage work and individual commitments. It leads to improved personal and family satisfaction. It guides to have increased focus, motivation and one of the factors that affect women employees’ retention in job satisfaction knowing that the family and work the company. It leads to less distraction. Directs in increased in job security due to flexibility or work time flexibility.
Perfect work life balance is maintained by having flex working hours. A negative work/life balance can cause burnout, stress, health problems, and pressure on marital and family relationships. Because these issues can significantly affect worker productivity and output, many progressive organizations are prioritizing addressing the topic of work/life balance. There is no doubt that employers expect more from their people, which leads to them feeling more pressure to achieve greater results. These pressures appear to have reached a breaking point, as people realise that they need to achieve better balance in their lives.
Work life balance provides an opportunity to balance work and life – usually a relaxed work culture. What we need is to adopt and encourage flexible working hours to meet employees’ needs. Everyone is super friendly and smart.
Work-Life Balance in Banking Industry
By: Vinod Chandrashekhar Dixit