Role of Work Life Balance In Attracting and Retaining High Potentials

Term Paper for the course of International Talent Management HR 510 Submitted to:

Prof. Don MINDAY

Submitted by:

Julie Tomanov Pragya Raj Gupta

ESC Rennes School of Business

Fall Semester 2012/2013

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Table of contents

Introduction I. II. III. HighPotentials Work Life Balance Work life balance as a tool for retaining high potentials A. Work life balance practices B. Which Strategy to Follow?

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C. Integrating work life balance in the organizations culture will benefit all 12 IV. V. VI. VII. The Gap between Policy and Practice Case: SAS Conclusion & Recommendations References 12 13 15 18

Introduction
The corporate world has moved way beyond from the Taylorism theory which in brief states that money is the solitary motivating factor for employees and is the link to their productivity. Further people can be treated in a standardised fashion, like machines (Riley, 2012). It was late in the 1980s that the companies began to acknowledge the human in the human resources. The role of Human Resources department in a company became more reactive and administrative. In the 21st century, HRs role has become more proactive and to undertake more strategic role in the organization. The successful corporations have now realized the role of people is critical in achieving competitive advantage.

Further, what worked for people 20 years ago, does not hold true for the people today. According to study published by Wharton (2007: 4), a number of men and women in the middle management are increasingly reluctant to take the next step in their careers because the corporate ladder is not as appealing as it used to be, and the price to climb is too high. These people are still ambitious and they are still driving. For todays generation money is generally not the main driver for work, and also their reasons and purposes for working are different than they used to be (Eisner, 2005). Generation Y seeks for a work life balance in order to achieve professional satisfaction and personal freedom (Barford, Hester, 2011).

In this term paper, we will focus and discuss the relevance of work life balance in attracting and retaining high potentials. We will begin by first discussing who the high potentials of a company are and why is it a challenging as well as important for companies to retain them. We will go on to then discuss the work life balance and the important role it plays in the employees performance. We shall then discuss the best practices the organisations implement in order to achieve the same and then specifically discuss some specific company scenarios. This will be followed by our opinions and recommendations about what the companies can do to attract high potentials through work life balance practices.

I.

High Potentials

Lance Berger & Associates (2003) define High Potentials or HIPO as a very small group of individuals in the organization who have demonstrated superior accomplishments, have inspired others to attain superior accomplishments and embody the core competencies and values of the organisation. In essence, HIPOs can be defined as employees high on performance, potential and values.

Source: Ernst & Young

In this ever-expanding, ever-changing global corporate world, retaining this talent is becoming one of the major challenges being faced today. Employers are ready to adopt the best of talent management strategies in order to retain the right number of highly capable people especially for future roles as potential successors. What Employees Leave? There has been considerable research by experts to not only understand the varied reasons behind employees decisions to leave an organization but also the process that it involves to finally make such a choice. These studies help organizations to understand the entire process in an objective way and help influence decisions of their employees. The theory of organizational equilibrium sheds valuable light on these matters. An individual will stay with an organization as long as the inducements it offers (such as satisfactory pay, good working conditions, and developmental opportunities) are equal to or greater than the contributions (time, effort) required of the person by the organization.1 Moreover, these judgments are affected by both the individuals desire to leave the organization and the ease with which he or she could depart (Allen, 2008).

Barnard-Simon Theory of Organizational Equilibrium, Babson College Faculty Web Server [online], Available: http://faculty.babson.edu/krollag/org_site/encyclop/bar_simon_theo.html, [27 Nov 2012]

In our view, work life balance is about working smart to make sure one never feels like that he or she is sacrificing their life for being at work. When all you know is work, your productivity at work is not as rich, nor is it as valuable. The number of hours put in at work should not be of much relevance as long as one can complete the task for the day to the best of his or her abilities. Its about working effectively and efficiently so that at the end of the day one is satisfied with what he or she has achieved in a given working day.2

II.

Work life balance

I found it quite easy to balance work and life ..when I didn't have any work.
- Nigel Marsh

A recent study explored and measured three aspects of work/life balance: 1. Time balance, which concerns the amount of time given to work and non-work roles. 2. Involvement balance, meaning the level of psychological involvement in, or commitment to, work and non-work roles. 3. Satisfaction balance or the level of satisfaction with work and non-work roles. (Hudson, 2005:2) This model of work/life balance, with time, involvement and satisfaction components, enables a broader and more inclusive picture thus stating that achieving balance needs to be considered from multiple perspectives.

Boston Consulting Group, one of the elite consulting companies, conducted on online survey of how Executives view the most critical HR topics. This was spread across 109 countries covering five continents and many industries. Work life balance along with issues like managing globalization, diversity and inclusion and corporate social responsibility and many other such similar were categorized in the yellow zone, where challenges do not pose immediate danger and can be addressed before they move into the red zone. However, we would argue that they are highly relevant for future success, because of long-term demographic and social trends, and that managers should rekindle efforts to improve in each area.3
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Work Life Balance Section, The Canadian Bar Association, (2010), [online], Available: http://www.cba.org/bc/bartalk_06_10/02_10/guest_sas.aspx, [27 Nov 2012] 3 Creating People Advantage 2010: How Companies Can Adapt Their HR Practices for Volatile Times, (2010), Bcg.perspectives [online], Available: https://www.bcgperspectives.com/content/articles/organization_transformation_creating_people_advantage_201

A lot of managers have to nowadays simultaneously perform two uneasy roles. One concerns managing a family life and the other managing professional tasks on the job. Both roles require a lot of effort and time. Very often these two roles may lead to contradictory demands which employees have to face (Leaptrott, McDonald, 2010). This conflict then may result in a range of negative aspects such as reduced work effort, reduced performance, and increased absenteeism and turn over, stress and burnout, lack of concentration, low alertness or reduced levels of general health and energy (Beauregard, Henry, 2009). The conflict concerns both women and men. The research conducted by Centre for American Progress showed that fully 90 % of American mothers and 95 % of American fathers report work-family conflict (Williams, Boushey, 2010: 1). Many studies supported the assumption that employees benefiting from work-life balance practices are more committed to the organization and more satisfied in their work. Grover and Crooker (1995) in their research found that childcare provision lead to organization commitment and reduced turnover intentions even among employees who are not users of the practices. There was also one study examining company's outcomes of pregnancy-related policies. It was found that pregnant women working in the companies which make them feel safer in terms of health insurance, sick days, job-protected leave, flexible scheduling, and supervisor understanding were more satisfied with their jobs, took fewer sick days, worked more on their own time, worked later into their pregnancies, and were more likely to return to work. (Grover, Crooker, 1995:273)

Researches also confirmed that from work-life balance practices benefit not only employees but also organizations. There was found positive relation between these practices and organization's productivity. One of the possible explanations may be that employees perceive these practices as symbols by which organization demonstrate a concern for them and thus promote their obligations in the organization (Beauregard, Henry, 2009). According to Shepard et al. (in Beauregard, Henry, 2009) another explanation may be that flexible work hours enable employees to work when they are most productive instead of during predetermined hours. Mukerjee and Sestero (in Beauregard, Henry, 2009) observed that companies offering work-life balance practices have also higher profit rates. Bloom and Van Reenan (in Beauregard, Henry, 2009) conducted research among 732 firms in USA and Europe and found out that offering work-life balance practices was related not only to better organizational performance in terms of productivity but also to high quality management practices. Despite all this, many companies use of family-friendly practices is still considered as having competing priorities or as a sign of insufficient commitment. A lot of men therefore use what Hall (in Beauregard, Henry, 2009) calls invisible daddy track - they don't make use of family leave and
0/?redirectUrl=%2fcontent%2farticles%2forganization_transformation_creating_people_advantage_2010%2f% 3fchapter%3d2&login=true, [27 Nov 2012]

instead take vacation upon the family-related event. This is because according to gender role theory men are supposed to place work before family life otherwise they are perceived as uncommitted. In organizations where work-life balance issues are not supported, being visible at work for long hours is seen as a sign of commitment and high potential and even as a premise of productive output. It is not surprising then that many employees are afraid of making use of this kind of advantages which can in their eyes lead to damaging their promotion prospects and worse relationships with their co-workers (Beauregard, Henry, 2009). Rogier and Padgett (in Beauregard, Henry, 2009) conducted research among working MBA students. They have got files with information about female employee working in an accounting company who was seeking a promotion to a senior manager. Participants evaluated those using flexible work hours as less committed, less ambitious and less convenient for advancement than those not using flexible work hours.

III.

Work life balance as a tool to retain high potentials

The Kenexa Research Institute (KRI) identifies key drivers of engagement and retention among high performers. The research results identify the 10 most important drivers for engaging and retaining high performers (James, Kowske, 2009).

Table 1: Key Drivers of Engagement and Retention for High Performers

Source: James, Kowske, 2009

There are two types of commitment to the organization: Affective commitment and continuance commitment. Affective commitment is based on emotional attachment employee identifies with the companys objectives and shares its values4. Continuance commitment binds employees to an organization by perceived costs associated with leaving the organization (Meyer et al., 2002). Steven L. Grover and Karen J. Crooker (1995) in their research found that employees are more attached to the companies with family responsive policies because of improving affective commitment and turnover intention. Companies offering flexible career path attracted more individuals - even those who didn't have family responsibilities rather than traditional companies (Beauregard, Henry, 2009). As Verma, Greenslade and Armatys (30 June 2012) say, according to high potentials, a good work-life balance includes much more than simply the number of hours logged at work. It extends to the amount of travel required, the extent of sacrifice of personal life for professional success and the degree of flexibility in terms of how and when their work gets done. The fight between business aspirations and maintaining personal life may be very stressful and frustrating. 59 % of high potentials reported that forgoing vacations and working long hours decreased their overall satisfaction in work (Verma, Greenslade, Armatys, 2012). As AESC President, Peter Felix (BlueSteps 2010 Work-Life Balance Report), said, The success of any organization is dependent on those running the show, so healthy and satisfied executives are vital to overall performance. The BlueSteps 2010 Work-Life Balance Report showed that for 80 % of BlueSteps executives is work life balance critical when making a decision if stay in a company or not while 82 % at the same time said that there is no program to improve work life balance in their organization. It indicates that there is a gap between how executives and organizations perceive work life balance.

Business Dictionary, Available: http://www.businessdictionary.com

Graph 1: Do you view work-life balance consideration as critical in your decision whether to join or remain with an employer?

Source: Corporate Connect5

There are many executives who give up their leisure time in favour of achieving their professional goals nevertheless 21 % would refuse a promotion if it means they would have to give up a good work-life balance (BlueSteps 2010 Work-Life Balance Report). As is mentioned in an article SAS on FORTUNE Best Companies to Work For list in US, work life balance practices reduce turnover which reduce also recruitment costs, company retains knowledge and may deepen relationships with its customers.

Kate Martin, senior vice president, human resources and corporate communications for the Trustmark Cos. in Lake Forest, says that it used to be that an employees relationship with their manager was the No. 1 reason for employees voluntarily leaving an organization. Now its a lack of employer work schedule flexibility. Thats the No. 1 reason. (Kubal, Newman, 2008)

Workforce today is in search for flexibility. A survey conducted by Merill Lynch indicated 16 percent of the baby boomer workforce is looking for part-time work, and 42 percent will only take jobs that

Are Executives Losing the Grip on a Healthy Work-Life Balance?, Corporate Connect [online], Available: https://www.executivesearchconnect.com/eweb/DynamicPage.aspx?webcode=worklifebalancejustreleased, [17 Nov 2012]

will allow them periods off for leisure. (Kubal, Newman, 2008)

A. Work Life Balance Practices

1. Flex time Flex time means that employees have a given total hours of work but they can choose when they want to start and finish. There are usually some core hours during the day when all employees should work. Workers can, for instance, choose to start to work between 7 and 9 am and finish between 3 and 5 pm. The core hours when everybody is in work are then between 9 and 3.

2. Reduced hours/Part time Part time means that employees can work less hours. Work time may be negotiated or worker can choose to work during his/her peak hours. Given individual conditions these arrangements may be temporary or permanent.

3. Compressed work week Compressed work week enables employees to work more hours per day and instead have one day off. For example, if a work week has 40 hours, employee can choose to work 10 hours a day four times a week and have one day off.

4. Telework Telework is type of arrangement when employees have to work at least some of their work time at home. Due to technology such as telephone, computer, modem, fax or e-mail, workers may stay connected to their office while working at home.

5. Job sharing Job sharing enables two or more workers to share one job position. It is necessary for those who sharing the same job position to work as a team and to communicate.

6. Banking of hours This arrangement allows employees to choose days and hours when they want to work within negotiated period of time (week, month, year). Banking of hours is usually combination of flex time and compressed work week.

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7. Leaves and Sabbaticals Leaves and Sabbaticals allow employees to take some period of time away from work while maintaining their employment rights. Leaves may be paid or unpaid periods of time away from work for family or educational reasons. Sabbaticals are usually paid periods of time away from work which are quite regularly added to vacation time. (Flexible Work Arrangements, Canadian Centre for Occupational Health & Safety)

8. The Art of Effective Delegation We come across several instances where only certain people in a team would be overworked and stressed while the remaining team members would be sitting idle. Employees, especially in the mid level management, must be realized the importance of effective delegation in their work life. Companies should provide trainings to the employees to develop on effective delegation skills. Effective delegation not only helps you utilize the full potential of the employees but also helps in reducing the work pressure and thus taking more time for oneself.

The other specialised leave policies and practices that support work / life balance include Shorter work days for Parents, Bereavement Leave, Paid Maternity Leave, Paid leave to take care for sick family members, onsite / near site company child care, company referral system for childcare, reentry scheme, phased retirement, sabbatical leave, professional counselling, life skill programs and so on (Hudson, 2005).

B. Which Strategy to Follow? There are three important steps in determining which work/life strategies to implement for the organization: 1. Ask the employees The H.R. department should meet with high potential employees to determine their specific needs. This should also include educating them about what the company or business currently offers. 2. Assess the needs of the business ensure that the HR has a good understanding of the business operational needs i.e. client contact hours, operational needs and workload peaks, before deciding on which strategies will work for the company. 3. Conduct a cost/benefit analysis of the strategies that have been selected. Any costs associated with setting up an office gym for example should be balanced against such factors as lower absenteeism, longer employee retention, less sick leave, etc.6

Small Business HR Blog: Resources to help manage your most important asset, Chamber Plan, 2012, [online], Available: http://www.chamberplanmb.com/2012/09/work-life-balance/, [27 Nov 2012]

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C. Integrating work life balance in the organizations culture will benefit all
The consequences of not implementing work / life balance programs properly is directly related with the loss of (and potential disadvantage in attracting) talented human capital. The HR department or the workforce managers should identify what type of alternative work arrangement is most appropriate for the organization and for the differing roles of employees and how it can benefit their employees. Proactively establishing flexible work arrangements such as flexitime, a compressed work week or telecommuting, indicates trust and that the company is empowering employees to own rather than just be passive receptors of work. Managers acceptance of flexible work arrangements is essential so that their subordinates can trust them that their job security and career paths are not in peril if they chose to take advantage of these programs.7

There are a number of additional benefits for organisations in contributing to the work/life balance of employees. These include outcomes such as increased productivity, organisational commitment, morale and job satisfaction, reduced turnover, improved employee retention, Improved performance, Positive employer branding, reduced absenteeism, earlier return to work after maternity leave, better physical and mental health of employees, broader talent pool available (Hudson, 2005).

IV.

The Gap between Policy and Practice

Despite organizations introducing various programs to encourage work life balance amongst their employees, the reality for many employees is not always in sync with what the management supposed it to be. Empirical studies show that the mere convenience of wide-ranging and liberal work/life policies does not essentially result in extensive utilisation by employees or subsequent improvements in work/life balance and reductions in work/life conflict. Five distinct aspects of work/life culture have been identified from previous studies, all of which should be considered by organisations when attempting to improve employees work/life balance. These are outlined below: Managerial Support - Managers play an important role in the success of work/life programs. They are in a position to encourage or discourage employees efforts to balance their work and family lives. The HR department must keep them in close confidence to achieve the desired outcome of the policies.

Resources: Latest Employee Retention News and Turnover Statistics, (2012), RETENSA: Engage, Motivate, Retain Top Talent [online], Available: http://www.retensa.com/resources/turnover-rate-ratio.php, [27 Nov 2012]

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Career Consequences The main reason behind an under-utilisation of work/life policies is the perception of negative career consequences. Employees should be assured that them making use of any of the programs will not be come in the way their career opportunities.

Time Expectations - In several studies, long working hours have been identified as a signal of commitment, productivity and motivation for career advancement. This subsequently forces some employees to choose between achieving balanced roles and progressing in their careers. Performance of employees should be judged only on the basis of their achievements of their objectives or goals set by the organization.

Gendered Perceptions - Although the language of organisational work/life policies is generally gender-neutral and non-discriminatory, these policies have revolved historically around facilitating the working conditions of women. Men too should be made a part of the policies to make it a general practice rather that an exclusive one.

Co-worker Support - Employees dislike of those using flexible arrangements, contributes to a work environment where the utilisation of available opportunities is not encouraged. The management should bring about a culture in the organization where work life balance is respected and looked in a positive way. (Hudson, 2005)

V.

Case: SAS

Our employees are the lifeblood of our success.

-SAS CEO and co-founder Jim Goodnight

SAS is the business analytics software company founded in 1976. SAS employs 13,349 people all around the world and helps its customers at more than 60,000 business, government and university sites. Its mission is to deliver proven solutions that drive innovation and improve performance8. SAS is known for its utopian working environment (Bankert, Lee, Lange, 2000) and has received many awards for work life balance, health care and childcare9 (in 2012 SAS ranks no. 1 in the world for best workplaces10). SAS realizes that its power is in its people. As the CEO, Jim Goodnight says,

About SAS: Providing organizations with The Power to Know since 1976, SAS [online], Available: http://www.sas.com/company/about/index.html, [17 Nov 2012] 9 SAS on FORTUNE Best Companies to Work For list in US, [online], Available: http://www.sas.com/news/preleases/2012fortuneranking.html, [16 Nov 2012] 10 Awards: Awards won by SAS, SAS [online], Available: http://www.sas.com/awards, [17 Nov 2012]

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SAS most important asset is its 'creative capital.11

SAS also knows that only happy and

committed employees might drive results. Jenn Mann, Vice President of Human Resources at SAS, said that SAS employees understand how important their contribution is for the company's success. Our stimulating work environment and high levels of trust provide employees with the freedom to test new ideas, while maintaining a healthy work-life balance. This recognition proves yet again that happy, creative employees drive results.12 And that SAS' politics lead to success is proven by its revenue growth and profitability (see graph 2).

Graph 2: SAS Annual Revenue 1976 2011

Source: SAS13 The basic idea is simple: Satisfied employees create satisfied customers.14 To attract and retain high potentials SAS provides to its employees two childcare centres, health centre, private offices for each employee, cafeteria with live music, on-site salon, fitness centre and many others perks. What is more, SAS offers flexible schedule, unlimited sick days and a 35-hour workweek (Bankert, Lee,

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About SAS: Providing organizations with The Power to Know since 1976, SAS [online], Available: http://www.sas.com/company/about/index.html, [17 Nov 2012]
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SAS on FORTUNE Best Companies to Work For list in US, [online], Available: http://www.sas.com/news/preleases/2012fortuneranking.html, [16 Nov 2012] 13 About SAS: Providing organizations with The Power to Know since 1976, SAS [online], Available: http://www.sas.com/company/about/index.html, [17 Nov 2012] 14 About SAS: Providing organizations with The Power to Know since 1976, SAS [online], Available: http://www.sas.com/company/about/index.html, [17 Nov 2012]

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Lange, 2000). Whats not available is perhaps even more telling: there is no executive dining room, no reserved parking spaces (except for company vans), and no coveted offices for executives. (Bankert, Lee, Lange, 2000:2) From flexible work time benefit mostly employees who are parents because they can participate in special events at their children's school or pick them up every afternoon. There are also many family activities during the year such as spring picnic or Halloween party. Childcare centres are for employees' children ages 6 weeks to 5 years old. All employees also enjoy 2 weeks of paid vacation, those who work for the company for 5 or more years have 3 weeks of paid vacation (Bankert, Lee, Lange, 2000). It all started in NASA where Jim Goodnight worked before he founded SAS. He saw that employees were not trusted. They were checked if they really work by timecards. People didn't work because they enjoyed it but because they had to. Executives had their own dining room and park places. Based on this experience Goodnight decided that his own company will be fun and stimulating, provide a family-friendly environment which he knew is key for recruitment and retention of talents. While regular software organizations of SAS' size lose around 1000 employees per year, SAS loses around 130 employees. It means that SAS saves $60 to $62 million by reducing recruiting costs (Bankert, Lee, Lange, 2000). Goodnight's approach is providing his employees what he would appreciate if he were an employee. All the benefits are available to all SAS employees to engineers as well as to childcare workers. SAS' unique work environment is what makes people stay. It is not about money otherwise they could easily be bought by other company (Bankert, Lee, Lange, 2000).

VI.

Conclusion & Recommendations

With the pressures of globalization, the growing scarcity of talent, and an employer-employee relationship weakened by persistent economic pressures, companies todaymore than evermust regard their human capital as an asset worthy of continual investment because companies that do so enjoy better economic performance.15 Today, companies should aim for a people strategy that drives their business strategy. Organizations

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Realizing the Value of People Management: From Capability to Profitability, Bcg.perspectives, (2012), [online], Available: https://www.bcgperspectives.com/content/articles/people_management_human_resources_leadership_from_cap ability_to_profitability/, [27 Nov 2012]

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should focus on the non-financial motivators to drive their high potentials.16 Organizations that support high performers work and personal demands make it easier for them to stay engaged and perform when at work.

A number of recommendations, based on current thinking and empirical literature may assist readers to work towards making work/life balance both a strategic goal and a reality in their organisations. 1. Acknowledge that employees whose work and personal lives are balanced bring significant flow-on benefits for organisations. These include: Organizations encouraging work life balance amongst their employees will bring about improved organisational commitment, reduced turnover and higher retention, reduced absenteeism, greater productivity, and reduced work/life conflict.

2. Change the widespread perception that visibility = productivity. Organizations should bring about a culture which focuses on effectiveness rather than length of work hours. Use communication technologies and skilful time-management strategies to boost output. Further in the cost effective corporate world, the organization should consider the benefits of having employees physically present for less time, such as overheads (electricity etc.) and potential reductions in office space requirements.

3. Recognise that to be at their best, employees need to view their work as personally meaningful. Inspect the job design that each employee undertakes and attempt to maximise satisfaction by providing skill variety, task identity and significance, autonomy and feedback. The management should be open about the potential for a broader range of jobs that might be suitable for flexible arrangements. Sometimes this is a matter of being creative; thinking about how the job or tasks it demands might be shared, broken up, done differently, re-allocated or performed at different times or locations. Although this task might seem a little daunting for the HR workforce but the rewards will be there.

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Motivating people: Getting beyond money, McKinsey Quarterly, (2009), [online], Available: http://www.mckinseyquarterly.com/Organization/Talent/Motivating_people_Getting_beyond_money_2460, [27 Nov 2012]

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4. Ensure that formal policies in place are consistent with what employees actually experience. Policy provision alone is not sufficient to ensure employees work/life balance. The HR department should provide information and assistance to managers and supervisors about how to promote flexibility and work/life balance. They must ensure that employees using work/life policies are not overlooked when promotion opportunities arise. It should be well communicated within the organization that work life balance and the use of flexible options are not just for women with family responsibilities. Senior managers in organisations need to walk the talk and demonstrate that balancing paid work and non-work activities is positive, necessary for physical and psychological health and will not damage career prospects.

5. Adopt a give and take philosophy. Both employer and employee need to be willing to bend a little. To maximise the benefits of flexible working hour arrangement for both parties, coworkers would need to avoid scheduling meetings that involve the individual during his non available hours. Further the employee should also be willing to change the work-at-home day (or forgo it altogether) if his or her physical presence is required. (Hudson, 2005)

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VII.

References
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