Good work/life balance earns companies more

14/10/2009

Businesses earn 20% more from their staff if they have a healthy work/life balance, new research suggests.

According to a study by talent development firm Morgan Redwood, ensuring staff have a good home/work balance reduces absenteeism, improves wellbeing and increases productivity.

The research revealed that nine out of ten firms believe there is a direct connection between the well-being of staff and company performance. Over half of respondents said the two were ‘very closely’ linked.

Janice Haddon, managing director of Morgan Redwood, said: “As companies look to make these critical savings, they must take care to not lose sight of the commercial knock-on effect of their actions.

“Work/life balance is not a ‘nice to have’ when we’re in a boom time. It can have a fundamental impact on the corporate performance at all times. Companies who focus on and measure staff wellbeing are in fact being very prudent. They’re making as big a contribution to their bottom line as those who are looking at ways to increase sales or cut costs.”

The research estimated that the average net worth of each employee to a business is £26,557 but this figure rises to £32,769 for companies where staff have a good work/life balance.