The Role of Work-Life Balance Practices in Order to Improve Organizational Performance
Well known in the literature as work life balance, the quality relationship between paid work and unpaid responsibilities is critical for success in today’s competitive business world. The issue of work-life balance has been developed in response to demographic, economic and cultural changes.The purpose of this paper is to establish whether work-life balance initiatives and practices can be considered as strategic human resource management decisions that can translate into improved individual and organizational performance. The results of a number of studies reviewed in this paper show the outcomes and the benefits of implementing worklife balance practices not only for employees themselves, but also for their families, organizations and society. Despite the fact that work-life conflict has significant business costs associated with lack of engagement, absenteeism, turnover rates, low productivity and creativity or poor retention levels, there are some factors of organizational work-life culture that may compromise availability and use of these practices.What are the challenges for research and practice in the future? In the end of the article we propose several suggestions (guidelines) in order to improve our understanding, choice, implementation and effectiveness of work-life practices.