Finding the perfect work-life balance

What does work-life balance mean to CIMA students? And how are employers incorporating work-life balance issues into their attraction and retention strategies? Freelance writer Calum Robson finds out.

With skill shortages placing greater pressure on workers, finding the time (or energy) to enjoy non-work interests can be difficult. But studying at the same time can make it seem almost impossible.

Result? Work-life balance has made the transition from management jargon to HR essential, with employers keen to demonstrate to potential recruits that it doesn't need to be 'work, work, work.'

‘You do a job hopefully because you find the work interesting – but you must also ensure it doesn’t take over your life, so that you have time for other interests, says Mark Taylor, a CIMA passed finalist working at Nortel.

Sujata Gaikwad, studying CIMA at National Grid, says: ‘Work-life balance means being able to have a fulfilling career without doing excessive hours. I work hard, and of course put in extra hours if required – but there’s lots of give and take.’

Support from employers

Employers are listening. Zachary Meade of recruiters FSS, says: ‘Many organisations now insist that we highlight their work-life balance policies. We’re seeing smaller touches being introduced, such as giving a day off for birthdays, subsidising bicycles and staging company fun days where employees’ families are invited.’

At Nortel, efforts to afford a healthy work-life balance include an onsite gym, tennis courts and organised social activities. There’s also a coffee shop and chillout area. ‘It’s good to know you can get away from your desk if you need to,’ says Taylor. ‘You can chat with colleagues, then return to your work relaxed, but ready to focus.’

National Grid even provides an onsite dentist and chiropractor: ‘That saves so much time,’ says Gaikwad. ‘I never have to take a morning or afternoon off for an appointment; I can just pop down there.’

CSR as a work-life balance tool

With corporate social responsibilty vaulting up the agenda in boardrooms, it's no surprise that many organisations are finding ways in which staff participation in charity fundraisers or community work can be harnessed into work-life balance initiatives.

Michael Carrier is a CIMA student at RBS Global Banking & Markets where charity work is an integral part of the graduate scheme. He was a member of one of three RBS teams who took over Barnardo’s charity shops for a day, competing to raise the most money. More recently, he’s taken part in the RBS Caledonian Challenge, walking the West Highland Way to raise funds for charity.

‘RBS provided us with food and equipment; we were given total support,’ he says. ‘Those activities demonstrate that work-life balance isn’t just about having fun – other facets are equally important.’

Nortel encourages its staff to engage with their local communities, with teams throwing themselves whole-heartedly into events such as Sport Relief: ‘It’s a chance for people to get together, which is important from a team building perspective,’ says Taylor.

Time out

Then there are those for whom work-life balance has to appeal to their sense of adventure – and the desire to make a major difference to other people’s lives.

Cue the ultimate one off work-life balance tool: the overseas sabbatical. With more employers incorporating sabbaticals into their benefits package - often with shorter qualifying periods - it’s an increasingly favoured option.

Graham McDermott, a CIMA finalist from Glasgow, and his wife are planning a ten-month sabbatical after qualifying. They intend to volunteer in Africa, teaching English while working on local community business projects. His employer is holding the door open for his return.

‘I want to have the opportunity of living amongst, and learning about, different people,’ he says. ‘The fact that the company will welcome me back makes me feel really valued – it shows they understand that there are other things besides work that people want to achieve.’

Flexible working

A recent study by mobile phone company T-Mobile found that British workers believe life in the office stifles productivity and creativity, with 46% saying that mobile working would improve their work-life balance.

So, more employers are tailoring working arrangements to individual needs. ‘One of the best things about working at RBS is the accommodative culture,’ says Carrier. ‘It recognises that everyone’s situation is different. If my son’s sick and I need time off, people will cover. That shows that you’re recognised for the effort you put in.’

Flexible working means more than simply banishing a long-hours culture: ‘It’s about shifting the focus from input in terms of time, to output in terms of productivity,’ says Rhonda Lusty of recruiters Nigel Lynn. ‘When travel time is taken out of the equation, employees might have a shorter working day, but produce much more. Many people recognise the attraction and sense of working remotely for part of the time, and structuring their hours around their social lives, outside interests or further study.’

Building an employer brand

‘The work-life balance culture was very appealing when I was being interviewed,’ says Carrier, recalling his RBS application. ‘I could see that the culture was all about enjoying work and being challenged – but not working your fingers to the bone.’

For today’s young finance professionals, the employment proposition is no longer just about money and promotion.

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