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Is Your Work/Life Balance Out of Balance?

Industry Trends and Research

Much is made of the importance of work/life “balance”—so how is it playing out in your practice(s)?

Somewhat problematically, there seems little consensus on exactly what that “should” be—more just a general sense that it might shift from time to time, and that there does, in fact, need to be some proportionality to each in order to maintain a healthy physical and mental equilibrium. 

MetLife’s 21st annual U.S. Employee Benefit Trends Study found that nearly half of employees (42%) don’t feel cared for by their employers, and when employees don’t feel cared for at work, their wellbeing, happiness and overall satisfaction take a hit. In fact, that report said that not only were those employees 65% less likely to feel a sense of belonging at work and 72% less likely to feel valued by their employers—it said only 45% are engaged, 58% are productive and 54% are loyal (compared with the 87%, 90% and 89%, respectively, who do feel valued).

That said, the strains of the COVID-19 pandemic—on both home and work fronts—linger, more in some places and for some folks more than others, but still…

We asked some 600+ advisor-attendees at the NAPA 401(k) Summit (a.k.a. our Summit “Insiders”) for their take on the temperature in their team and… well, it seems things are pretty much back to “normal”—and for a notable minority, better than ever!

How is your team’s work/life balance right now?
About the same as it’s always been. 322 57%
Better than ever. 139 24%
It is . . . what it is. 63 11%
Honestly, it's pretty grim right now. 45 8%

As for the Summit Insiders themselves—well, the news is a bit of a mixed bag, but still noteworthy that most are in the normal-to-better-than-ever camp!

 

How is YOUR work/life balance right now?
About the same as it’s always been. 241 42%
Better than ever. 163 29%
Honestly, it's pretty grim right now. 86 15%
It is . . . what it is.  79 14%

How’s it in YOUR office(s)?

Check out the rest of the 2023 NAPA Summit Insider at https://bit.ly/23Summitinsider1

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