In light of current economic trends and changing workforce demographics, many employers are recognizing that their approach to work/life issues will determine their success in hiring and retaining well-qualified employees, and their ability to compete effectively in the marketplace. In addition, child care and other family-friendly policies have a significant fiscal impact on the bottom line of businesses of all sizes.
The Changing Workforce
- Families have changed. In most two-parent families, both parents are in the workforce. The number of married couples with both spouses working grew from 60% in 1977 to 78% in 1997. The number of single working parents has jumped nearly 50% in the last 15 years, and one in every six single parents is a father.
- Women are participating in the workforce in record numbers. Over three-quarters of women who have school-age children are employed. Sixty-five percent of mothers with children under the age of six are in the workforce. The Bureau of Labor Statistics estimates that women will make up 48% of the U.S. labor force by 2008.
- Priorities. A national survey found that 78% of workers cited that their effort to balance work/life needs was their number 1 priority.
- Tight Labor Market. The Bureau of Labor Statistics estimates that the United States could be short 10 million workers in the next decade.
- Companies have to work harder to attract and retain the talent they need to succeed in a competitive marketplace. According to the 1998 Business Work-Life study, two-thirds of employers find it difficult to fill vacancies for highly skilled jobs and two-fifths have difficulty filling entry-level jobs.
- Companies have to function in a 24-hour global economy. As a result, more and more jobs require nontraditional work schedules during early morning, late night, or weekend hours.
Bottom-Line Benefits for Employers
Employers who institute and support work/life programs report significant improvements in the workplace, and the bottom line. According to the Families and Work Institute’s 1997 National Study of the Changing Workforce (NSCW), the quality of workers’ jobs and the supportiveness are the most powerful predictors of productivity. Job and workplace characteristics are far more important predictors than pay and benefits. Specifically, it was found that employees with more supportive workplaces as well as better quality jobs are more likely than other workers to have:
- Higher levels of job satisfaction
- More commitment to their companies’ success;
- Greater loyalty to their companies; and
- A stronger intention to remain with their companies.
In addition, the NSCW found that:
- Two-thirds of employers report that benefits of child care programs exceed costs ore that the programs are cost-neutral
- Three quarters of employers who offer flexible work schedules find that benefits exceed costs or that programs are cost-neutral
- Of those employers with family leave policies, three-quarters find that benefits exceed costs or that the programs are cost-neutral.
Finally, the study also found that employees with more demanding jobs and less supportive workplaces experience:
- More stress;
- Poorer coping;
- Worse moods; and
- Less energy off the job, all of which jeopardize their personal and family well- being
Reduced Tardiness and Absenteeism
Studies show that worker miss more than seven work days each year due to dependent care programs (looking for care, unanticipated closing due to illness, transportation issues, school holidays, weather closings, etc.). Studies also show that when employers provide assistance with dependent care issues, absenteeism is reduced by 20-30 percent.
Enhanced Corporate Image
Organizations that promote work and family balancing programs are often commended, both in the press as well as by their employees. Various publications, such as Working Mother Magazine nationally, as well as local newspapers and journals, highlight the efforts of employers in solving dependency care and other work/life issues.
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