Survey Says…. Employees Prefer Work-Life Balance Over MoneyA recent survey by global management consulting firm, Accenture, has found that 70% of employees prefer work and life balance over money when choosing a job. The survey showed that 52% of respondents had turned down a job due to concerns about its impact on their “work-life balance”. It also found that work-life balance tops respondents’ definition of career success, ahead of money, recognition and autonomy.
The 2013 global annual survey by the US-based management consulting firm saw the participation of over 4,000 business executives from medium to large organization across 33 countries. Countries from all regions took part in the survey, with a minimum of 100 respondents from each country including Malaysia.
Managing director of Accenture’s global inclusion and diversity firm, Nellie Borrero, said companies offering work and life balance have higher chances of retaining their employees. “Companies that give employees flexibility and work-life integration have higher chances of retaining their workers,” she said in an interview with The Edge Financial Daily.
This is supported by the survey which found that 56% of the respondents view work-life balance as important in their career, compared to 46% who prefer money and 42% who go for recognition and autonomy.
Borrero noted that it is essential for employees, especially women, to have flexibility at work and maintain work-life balance. “For working women, Accenture focuses on retaining professional women by giving them skill sets for career development and talks on how to market and brand themselves in this corporate arena,” she said.
The survey also found that 80% of the respondents believe that having flexibility in their work schedule is extremely or very important to work-life balance. Only 2% believe that having flexibility is unimportant in work-life balance. More than half of the respondents are satisfied with their current jobs, and will not be looking for new opportunities
The survey showed two-thirds of women and three-quarters of men have been with their current employer for more than four years. Less than 10% switched jobs in less than one year.
This article first appeared in The Edge Financial Daily, on April 15, 2013.
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