Two years ago, I made the decision to move my company to a 35-hour workweek. The results have been incredible. Particularly in how I believe it made me a better CEO. And financially, we've done much better too. My company, Work It Daily, is not alone. More and more companies are starting to adopt shorter workweeks and more generous time-off policies. As a result, I predict the hottest trend in employee benefits for 2019 will be focused on shaping how employees achieve the work-life balance they want and deserve.
3 Smart Reasons to Jump on the Work-Life Balance Benefit Bandwagon (Right Now!)
While being told to "go home" and "get a life" is usually meant to insult us, it's actually welcomed by your staff. Successful leaders with big visions of greatness for their organizations know they can't go it alone. Which means making sure employees feel like the company cares about their happiness and well-being--especially during times of extremely low unemployment, when it's easy for your most talented employees to find a better job at another company. Here are three reasons why your company should focus on enhancing its work-life balance benefits in 2019:
1. Most companies still aren't doing it--which makes you more attractive as an employer.
Old school managers are struggling to figure out how they can manage performance without tying it to the clock. If your definition of a good job is "butt in chair" then it's going to be hard to let go. Meanwhile, companies that have well-defined OKRs (Objectives and Key Deliverables) have a much easier time trusting employees to get their work done, regardless of how much, or how little, time it takes them.
2. Your employees will become talent magnets for your company.
Fact: Employees love to brag about their great work-life balance to friends and family. Want to have an easier time finding and hiring top talent? Creating an incredible work-life balance program will save you thousands in recruiting costs. That's because your employees will be walking employer-brand billboards for why the best people work at your company.
3. Working smarter, not harder is a sign of strength.
Companies with a leadership team and staff who are well-rested, happy, and believe their goals can be achieved in a reasonable amount of time are more trusted and respected. Not to mention, studies show they perform at higher levels, too. If you want to look like a stable company on a sustainable growth track, getting the job done in less time is the way to do it.
P.S.--A Shorter Work Week Won't Cost You in a Recession
For those of you worried how making changes like this will impact your business during a recession, remember this: Employees like to keep jobs that treat them well. I guarantee the appreciation and loyalty you gain from creating an attractive work-life balance benefit strategy will help you in an economic downturn. Your employees will do whatever it takes to make sure they can keep the company going so they can keep this coveted benefit. As someone who has had her team rally around her in the darkest of life's moments, I know first-hand the powerful ROI of making sure your staff knows you respect and support their life outside of work.