Transcript Title of Project or Presentation

The Work / Life Balance Sheet
Asset or Liability? Investment or Overhead?
Presented by
Wendy Lundgaard, Director
August 2006
Our discussion:
• Where does Work/ Life fit in HR
strategy?
• Work/ Life as a component
• Demographic Facts and broader
issues
• Work/ Life Balance Sheet©, getting
ROI for the business
• Traps to avoid
• Top 10 tips
Where does Work/ Life fit?
OH&S &
Wellbeing
In early days work/life was a
HR
Strategy
Employer
Of Choice
comfortable fit here
Attraction
&
Retention
Where does Work/ Life fit?
Employee
Engagement
Attraction
&
Retention
HR
Strategy
OH&S &
Wellbeing
Employer
Of Choice
Then Engagement became
the dominant driver
Where does Work/ Life fit?
Workforce
Planning
Employer
Of Choice
OH&S
HR
Strategy
Attraction
&
Retention
Employee
Engagement
In the future, workforce
planning reasons will
dominate the HR
agenda
Work/Life as a Workforce Planning Strategy
Work /Life
Balance
Age
Management
Performance
Productivity
(Retirement)
Workforce
Planning
Capability
Attraction &
Retention
And the inter-relationships
are strong, and here is
why……………
Talent &
Succession
Mgt
Knowledge
Management
Linking Work/ Life and Workforce
Planning
• Ageing workforce and labour market issues will
dominate the HR Agenda
Expectation of Life from Birth (Years)
Expectation of Life from Birth
1920 to 2051
90
85
80
75
70
65
60
55
Years
Years
Years
Years
Years
Years
Years
Years
1920-22 1932-34 1946-48 1953-55 1960-62 1970-72 1980-82 1990-92
Year
1998
Years (2005 and beyond are projections only)
ABS: Deaths - 3302.0 - 1920-98
Females
Males
Year
2005
Year
2041
Year
2051
Linking Work/ Life and Workforce
Planning
Fertility Rates within Australia 1921 to 2051
3.6
Fertility Rates
3.3
3
2.7
2.4
2.1
1.8
1.5
Years Years Years Years Years Years Years Years
1921-25 1932-34 1946-48 1953-55 1960-62 1970-72 1980-82 1990-92
Year
1998
Year
2005
Year
2006-51
Years (from 2006 - 51 are projections only)
ABS: Births - 3301.0 - 1998
•
For the decade 2020 – 2030 new entrants in the labour market will be
only 125,000. We currently see 170,000 per annum entering the
workforce. (Access Economics, 2001)
More than a demographic issue
• Expectations changing: impact of IT, 24/7,
global economy,
• Societal issues: family structures, parenting
norms
• Knowledge economy: autonomy in roles,
trust
• OH&S remit now = Physical + Psychological
Measuring the Impact
• Is your W/L investment making a difference?
• Can you justify the investment with clear business
case & ROI
• What is your Work/life Balance Sheet NET
position?
©
Work/ Life Balance Sheet
Finish in Red or Black?
Tangible
Future
Assets?
Investment?
• Deliverables
• Responsiveness
•Clients
• Employee engagement
• Knowledge
• Culture and Workplace
Practices
• Retention
• Competitive advantage
• Managers ability
• Employee capability &
committment
• Relationships at Work
Overhead?
Liability?
• Program costs
• Risks
•Overtime
• Absenteeism
•Turnover
• Recruitment $s
• OH&S – phys & psych
• Discrimination
• Presenteeism
• Conflict at work
• IR/ER & Reputation
Traps!
• Inadequate Quantitative data
• Inadequate Qualitative data
• HR seen as ‘blocker’ not partner/
driver
• Inadequate support by CEO, Senior
Mgt
• Workplace tensions
• Unbalanced employee perceptions: it’s
work/LIFE and my rights.
Top 10 tips - building an integrated
work/life program
At System Level
1. W/L program part of integrated workforce planning
strategy
2. Performance regime measures outcomes not
inputs
3. Program goals link clearly to Business Objectives
4. W/L initiatives must be relevant to workforce
(demographics, lifecycle)
5. Develop strong metrics base (benchmark pre, post
implementation, and on-going reviews)
6. HR & IT policies/ systems support objectives but
balance risks (WFH)
Top 10 Tips (continued)
At Cultural Level
7. Managers given specific training in
“managing flexibly”
8. Whilst marketing benefits also educate
employees on obligations (use case
studies, profiles)
9. Culture of Partnership: (reference group
to bounce ideas and two-way link with
workforce)
10. Report on outcomes, critically review,
celebrate success.
Your work/ life program
Will it be a jumble of ‘good ideas’?
Or a planned and well executed
approach?
For more information
Visit: www.win-winws.com.au
Wendy Lundgaard, Director
ph: 0411 125 722
August 2006
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