The Relationship Between Work-Life Balance (WLB) and Firm Performance

The Relationship Between Work-Life Balance (WLB) and Firm Performance

Choi Sang Long (Raffles University Iskandar, Malaysia)
DOI: 10.4018/978-1-5225-2250-8.ch019
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It is paramount that firms accurately assess the cost-effectiveness of WLB policies as initiatives to conduct such policies involve cost. WLB policies should be considered due to synergistic effects by employing a variety of policies. The benefits are usually under-estimated while the costs over-estimated, as the latter is easier to measure. Until longitudinal research is conducted, we cannot discount the possibility that successful organizations are more likely to offer WLB practices, and that the practices themselves are not exerting any favorable effect on organizational performance. Instead, it might simply be that organizations offering WLB practices are more predisposed to engaging in high-quality management practices and that this approach usually generates a positive effect on employees and performance outcomes. Thus, we can surmise that improved firm performance is a result of effective management usually associated with the implementation of WLB policies in the workplace, and not solely because of WLB per se.
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Managerial Support (MS)

Young and Jordan (2008) provides evidence that top management support is critical for project success. There are implications for practice as conventional technical and project management advice has a lesser impact on project success than previously determined. As such, the Board and top managers will have to agree that they project a much larger influence on the success or failure of any project. Furthermore, they are responsible for upholding the ethical values, forming the reward and control system and promoting cohesive employment relationships (Valentine, Greller, & Richtermeyer, 2006). Thus, when top management stresses ideals such as fairness and equal employment opportunities and seriously implement these initiatives, employee commitment will increase and also demonstrate that they are a socially responsible employer.

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