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This report provides an overview of different types of work-life balance initiatives that have been developed by in the financial institutions of Bangladesh. Governments are increasingly committed to reducing the social, health and business costs of work-life conflict. Several countries have adopted individual pieces of legislation or policies that address some aspect of work-life balance. These initiatives are not necessarily part of a comprehensive program or policy approach to achieve work-life balance, but these measures could be seen as one way to improve an employee’s balance between work and other responsibilities.
This report shows that there is not likely to be any “one size fits all” answer to work-life balance issues. A variety of approaches are available to support work-life balance, ranging from promotional programs that emphasize the importance of balance and provide support to employers to reduce the business costs associated with work-life conflict, to legislation that supports parents with care giving responsibilities.
It is clear that improving work-life balance is an important component of the policy agenda for many industrial countries, and the issue is likely to become even more important in the future.
The first Work-Life Balance Survey (WLB1) was conducted by the Department for Education and Employment in 2000 to assess the extent to which employers operated work life balance practices; to see whether employees felt that existing practices met their needs; and to provide a baseline against which future surveys could be compared.
Changes were made in the survey’s methodology between the first baseline study conducted by IFF and the second survey of employees (WLB2) conducted in 2003 by MORI, and fieldwork for the 3 Second survey was conducted prior to the introduction of the right to request flexible working. This report presents the results of the Third Work-Life Balance Employees’ Survey, conducted by telephone in early 2006. Work-life balance is a phrase used to describe an individual’s feelings of satisfaction with the participation in job-related activities and his or her personal life.
This state is achieved when an individual feels the amount of time spent making money to provide for one’s household and advancing career goals is adequately balanced with the amount of time spent in independent and personal pursuits, such as friendships, family, spirituality, hobbies, and leisure activities. Failure to maintain work-life balance may result in significant emotional distress and reduction of productivity. In many cases, spending more time at work may actually lead to a decrease in productivity.
Some individuals feel that their workplace creates too many pressures to maintain a work/life balance, and they may feel a reduction in their feelings of satisfaction and enjoyment of life. Some individuals feel as if there is not enough time for other aspects of life 1. INTRODUCTION: 1. 1. Introduction to the topic: Work-life balance is a broad concept including proper prioritizing between “work” (career and ambition) on one hand and “life” (pleasure, leisure, family and spiritual development) on the other. Related, though broader, terms include “lifestyle balance” and “life balance”.
In general, individuals who work more than 60 hours per week are colloquially called workaholics. The phrase “workaholic” became popular in 1971 when Wayne Oates published the book, “Confessions of a Workaholic. ” The phrase “workaholic” is not a clinical term, but it is generally used to describe individuals who neglect their personal lives in favor of work- and career-related pursuits. The phrase “work-life balance” became popular as a managerial concept when employers realized that their workers demonstrated increased productivity, decreased turnover, and dedication to the company when the concept was observed and respected.
