The business case for work life integration solutions

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The business case for work-lifeintegration solutionsOrganisations that recognise the importance of implementing work-life balance initiatives will benefit from a more engaged, productive and loyal workforce.


Source: 1. Australian Human Rights Commission; 2. Galaxy Poll for CareerOne; 3. Andrew May, The Science of High Performance - The Work/Life Balance Myth; 4. ABS, Labour Force, Australia 2012; 5. ABS, Australian social trends 2012, Older People and the Labour Market; 6. Medibank Private Study, August 2008, Work/Life balance foundation; 7. My Family Care, Working Parent Survey 2009; 8. InSync 2012 retention review survey; 9. InSync 2012 retention review survey; 10. Mind Survey 2010

Have unpaid caring

responsibilities

Believe it is hard to maintain a healthy

work-life balance

26%Of employees are

stressed and anxious

Of Dads feel they don’t spend enough

time with their children

68%

15%Over 55

46%Women

Men54%

THIS IS YOURWORKFORCE

THE CASE FOR WORK-LIFE INITIATIVES

SM TW Th FS

90%

40%47%

30

THIS IMPACTS YOUR WORK PLACE BUT THERE ARE SOLUTIONS

days

menwomen

WE’RE A STRESSED OUT BUNCH

Lost in productivity each year multiple childcare

breakdowns each year

Home-life factors play a major part in people leaving their jobs

$$ $

Build your sustainable workforce with SeventeenHundred’s practical

Avg. turnover costs organisations of 100+ $1 million p.a.

81%

38%

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2

4

4

5

3

8

9

10

6

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For working parents, carers and those transitioning into retirement, the competing demands of work-life, and caring responsibilities can have a significant impact on job performance, focus, attendance and happiness.

Providing genuine support to employees can increase their engagement, productivity and loyalty. In addition, work-life programs have consistently shown to positively affect financial performance and stock prices.1

Whether your organisation is large or small, helping your employees integrate work and life is a strategic business imperative.

Welcome toSeventeenHundred

4 Benefits Attraction, retention, diversity, improved engagement and productivity, reduced absenteeism and costs; compliance

6 Legislation and compliance Changes to legislative and compliance requirements provide an added incentive for work-life balance initiatives

7 Programs and services Solutions that assist employers with their diversity, attraction, retention and engagement strategies; some of our clients

10 Word on the street Clients and employees have been saying positive things

12 An employee life cycle Our programs will help you through the duration of an employee’s time with you - here’s how


Improved financial performance Work-life initiatives have been shown to affect financial performance and stock prices. One study, found that organisations emphasising the quality of life for employees had higher sales growth and return on asset growth over a 5 year period.1 Recent studies also showed that announcements of work-life programs improved share prices.2

The additional benefits to an organisation of improved employee satisfaction and productivity also contribute to this improved financial performance.

Attraction of the best talent - Becoming an employer of choiceWorking parents and carers represent a large talent pool. In Australia, 38% of all employees have unpaid caring responsibilities as parents, disability and ageing caregivers.2 The prevalence of carers in our society is only likely to grow with the ageing population, currently more than 1 in 5 workers are aged 55 or over in Australia and 1 in 4 are aged over 50 in New Zealand.

Additionally the median age of Australians is expected to increase from 36.8 years in 2007 to 45.2 in 2056. The proportion of Australians over 65 years could increase from 13% to 25% during the same time period.3

This diverse workforce will seek forward thinking organisations that provide genuine support for integrating work-life commitments. The current skills shortage combined with competition for skilled talent means offering work-life programs can be a cost-effective solution, especially when

considering family and other life circumstances play a major part in the decision for women and men leaving an organisation, 47% and 40% respectively.4

Retention of talent Numerous studies suggest that work-life and work-family policies lead to increased employee retention rates, which translate into significant cost savings in employee turnover and thereby reduction in recruitment and training costs.5

The provision of unpaid care impacts retention and workforce participation. Many struggle to balance their work commitments and caring responsibilities, with carers more likely to leave employment than reduce their hours.2 This has a particular impact on female workforce participation: in Australia 92% of women are the primary carers for children with a disability, 70% for parents and 52% for partners.2

Men are also taking a bigger role in the provision of care. 48% of the time males are the primary carer for their partners2 and 43% of all fathers want to spend more time with their children.6

According to a recent survey, staff turnover costs an organisation with 100 employees around $1 million annually.7 Organisations could save around $280,000 per year for every 100 staff they employ by reducing their turnover by just 5%.7

Thus implementation of work-life initiatives is a financially viable solution when you consider that 80% of turnover is within an organisation’s control and that employees are 86% more likely to stay if they are satisfied with their work-life balance and stress levels8 (this is based on the assumption of avg. 18% turnover rate, an average salary of

What arethe benefits?Improved financial performance;attraction and retention of the best talent; greater diversity and inclusion;improved engagement and productivity; reduced absenteeism and costs;compliance with legislation

$


$75,000 and turnover cost per employee of 75% of annual salary).

Recent research also shows that 27% of employees working in an organisation not perceived to support work-life balance plan to leave their company within the next two years. Conversely, companies that rank in the top quartile (for supporting employees achieve a balance) have a lower dissatisfaction rate with only 17% considering leaving.9 This 10% reduction in turnover for an organisation with 1000 employees would result in savings of over $5.6 million over two years.9

Additionally, comprehensive work-life support that includes programs and policies for pregnancy and parental leave have proven to contribute to an increased return rate from parental leave and the retention of talented employees. This enables those who take parental leave to reach their potential in the workforce.10 Women who are more satisfied with their jobs and are more likely to stay after having a child when they feel their organisation and manager are responsive to their work-family needs.11

A recent report from Diversity Council Australia showed the benefits of increased retention with mature-age workers, finding that organisations can experience an average net benefit of $1,956 per mature-age employee per year generated from higher retention rates, lower absenteeism, and decreased recruitment costs.12

Greater diversity and inclusionDiversity and inclusion in the workplace and within leadership teams are critical success factors in making better decisions and developing more innovative business solutions.

Research conducted by organisations McKinsey & Catalyst has shown that Fortune 500 companies with more women on their boards tend to be more profitable.13 Additional research shows groups with diverse perspectives and flexibility in thinking almost always outperform homogeneous groups in a business environment and lead to higher levels of creativity, innovation and organisational agility.14

A focus on initiatives and practices that support diversity and inclusion enable organisations to attract and retain the best talent to build high performing environments.

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People finding it difficult to manage work-life were up to 6 x more likely to intend to leave. Diversity Council of Australia

Women who feel in control of their working lives as well as their home life responsibilities are more likely to embrace a career and give your business the talent you value.Work Life Balance - Department of Trade & Industry (UK)


Improved engagement and productivityEngagement research shows a strong correlation to business outcomes essential to an organisation’s financial success; namely productivity, profitability and customer satisfaction. Engaged employees are also more likely to drive innovation, growth and revenue15. Companies with high levels of engagement outperform their competitors, being 27% more profitable, 38% more productive and 50% having higher levels of customer loyalty16.

Work-life programs have a significant impact on employee satisfaction, engagement and commitment levels17 and ‘Employers of Choice’ are shown to achieve higher levels of productivity.

Reduced absenteeism and costsWhere people are struggling to maintain a work-life balance, juggling work and home responsibilities can take its’ toll. Working long hours can result in exhaustion, stress and reduced effectiveness and impact general health and wellbeing.

Family and caring responsibilities are major causes of short-term absence. Working parents have child care challenges, on average, nine times a year with 98% having to take time off as a result.18 In addition to this 58% of those caring for an older person reported they were required to leave work early or come in late.19

Considering the average cost of absenteeism in Australia is $372 per day20, the average cost to employers per full-time working caregiver each year is therefore $2,861. This means an organisation with 1000 employees could face absenteeism costs of $1,103,625 per annum. With working caregivers an essential and increasing part of the workforce, these costs will only continue to rise.20

There is good news, however, according to a study by the Alfred P. Sloan Foundation ‘“any funds spent by the employer in helping with caregiving have a payback to the employer of 3 to 13 times the cost”.19

Changes to legislative and compliance requirements provide an additional incentive for the implementation of work-life programs and policies. There is an ever-growing focus on increasing diversity participation in the workplace and increased protections for employees under various discrimination acts. Subsequently organisations need to be aware of the implications and costs associated by not providing support to their employees.

The following federal and state legislation covers workplace diversity and equal opportunity in Australia• The Australian Human Rights Commission Act 1986• The Aged Discrimination Act 2004• The Sex Discrimination Act 1984• The Racial Discrimination Act 1975• The Racial Hatred Act• The Disability Discrimination Act• The Workplace Gender Equality Act 2012• The Fair Work Act and National Employment Standards

(NES)

There are many state-based anti-discrimination and OH&S laws across Australia. Go to www.antidiscrimination.gov.au to see which apply to your organisation.

In addition, the Australian Securities Exchange (ASX) requires entities to establish a diversity policy, publish it, and set measurable objectives for achieving gender diversity.

Employers are required to comply with a number of acts in New Zealand to ensure employees are treated fairly• Human Rights Act 1993• Employment Relations Act 2000• State Sector Act 1998• Local Government Act 2002• State-Owned Enterprises Act 1986• Parental Leave and Employment Protection Act 1987• Crown Entities Act 2004• Equal Pay Act 1972

Legislation and compliance


SeventeenHundred’s work-life integration and diversity initiatives have been designed to assist organisations enhance attraction and retention of the best talent; achieve greater diversity and inclusion; improve engagement and productivity; reduce absenteeism and costs and achieve legislative and compliance requirements.

Our programs and services can be implemented in any timeframe to meet the needs of your business.

The Parental Support and Senior Living ProgramsUnique online portals branded in your corporate colours designed to be accessed by your employees through your intranet, from their home or mobile device, with information and support available on demand for Parental Support and Senior Living Program.

Parental Support Program

Support for your employees who care for children from 0 to 18 years or a dependent with special needs • Access to a 24-hour / 7 days a week nanny, newborn carer, emergency care and babysitting

service• National child care centre, primary and secondary school search• Recommended family activities updated on a regular basis• Information on government benefits and entitlements• Complimentary on-demand parenting support from our professional consultants• Access to our specialist parental and lifestyle workshops

Senior Living Program

Support for your employees transitioning into retirement or caring for elderly loved ones• Information and support through the retirement process including planning, guide to

superannuation and life after work• A 24-hour / 7 days a week aged care worker booking service to assist with domestic duties• National Aged Care facility search • A step-by-step guide to help employees understand the level of care required for the

circumstance of their loved ones • Access to our senior living and lifestyle workshops delivered on the client site by our specialist facilitators• Complimentary on-demand senior living support from our professional consultants

Our programsand services


Workshops General, parental and senior living workshops with a focus on diversity, flexibility and lifestyle factors

Stay in TouchHR initiative to keep employees connected and engaged before, during and after parental leave

PacksInformation guides to support employees (including dads) going on and returning from parental leave as well as achieve flexible working arrangements

Family Friendly EventsOrganisation of child friendly activities, games and entertainment, and the provision of qualified carers

On-site Childcare & Vacation CareCare solutions that are perfect for managing your employees’ demands of finding childcare

ConsultingConsulting solutions customised for the culture, structure and priorities of your business

SME Business ProgramAn opportunity for small businesses to access family programs, support and services

Sources:

1. Van Deusen, Ladge, James, Harrington, Boston College Center for Work and Family. Building the Business Case for Work-Life Programs, 2007, p. 3.

2. Australian Human Rights Commission. Supporting Carers in the workplace – A Toolkit, 2013.

3. Australian Bureau of Statistics, Main Projection Series - Population size and growth, 2008.

4. Insync, The 2012 Insync Surveys Retention Review, 2012, p. 1.

5. Van Deusen, Ladge, James, Harrington, Boston College Center for Work and Family. Building the Business Case for Work-Life Programs, 2007, p. 4.

6. Parker, Kim and Wang, Wendy. Pew Research Social & Demographic Trends, Modern Parenthood, March 2013.

7. Insync, The 2012 Insync Surveys Retention Review, 2012, p. 2.*Assuming a staff turnover rate of 18%, an average salary of $75,000 and a conservative turnover cost per employee of 75% of annual salary (including the cost of recruitment, selection, induction, training and lost productivity whilst getting up to speed).

8. Van Deusen, Ladge, James, Harrington, Boston College Center for Work and Family. Building the Business Case for Work-Life Programs, 2007, p. 4. *Based on average salary of $75,000 and a conservative turnover cost per employee of 75% of annual salary.

9. Hay Group, Developing a Culture of Work-Life Balance, 2013, p. 2.

10. Workplace Gender Equality Agency, Flexible Working Arrangements, p. 3.

11. Glass, J. and Estes, S.B., The Family Responsive Workplace. Annual Review of Sociology, 1997. Boston College Center for Work and Family. Building the Business Case for Work-Life Programs, 2007, p. 3.

12. Tilly, Jo; Er. O’Leary, Jane and Dr Graeme Russell for Diversity Council Australia and Australian Human Rights Commission, Older Women Matter - Harnessing the talents of Australia’s older female workforce, May 2013.

13. McKinsey , Women Matter: Women at the top of corporations: Making it happen, 2010.

14. Credit Suisse, Gender Diversity and Corporate Performance, 2012, p. 20.

15. Gallup, 2013 State of the American Workplace Report - Employee Engagement Insights for U.S. Business Leaders, 2013, p. 21.

16. Harter, James K. Ph.D.; Schmidt, Frank. L, Ph.D., et.al. Gallup: Q12 Meta-Analysis, 2013.

17. Galinsky, E., Bond, J. and Hill, J., When Work Works - a status report on workplace flexibility, who has it? who wants it? what difference does it make? Boston College Center for Work and Family. Building the Business Case for Work-Life Programs, 2007, p. 4.

18. Employee Advisory Resource’s Employee Wellbeing Survey 2006.

19. MetLife, The MetLife Study of Caregiving Costs to Working Caregiver, 2006.

20. Safety Institute of Australia, Absenteeism rates higher in Australia, September 2012


Some of our clients


Word on the street

Being a full time working Mum can certainly be very challenging at times. When I came across the Family support program I was BLOWN AWAY…I enjoyed reading the articles and looking for some fun activities to do with my kids. If you step foot in my house you will see the meal planner on my fridge! Love it!

It is a program that provides support to the carers that are generally forgotten. Many of our employees who care for their parents get frustrated at all the focus on parental support and not enough for elder support. This is a great program.

It’s great to have on hand advice ready when you need it at any time of the day. It is also reassuring to know that my company value work/family life balance and really live this philosophy for the wellbeing of their staff.

As a first time, soon-to-be mother, it’s comforting and reassuring to know that there is help and support available to me so that returning back to work after maternity leave isn’t a daunting challenge and that work and home life can be more balanced. It’s great that all the info is on one page too!

Just the fact that my company has such a site is great. Getting info on planning for retirement (even though I’m quite a few years away) and also understanding the challenges of the ageing (which is great for me to read as I have ageing parents) is also very helpful.

Each time I log into this website there are a lot of interesting articles for me. Being a busy Mum and accountant I love the information about CCB and CCR in the ‘benefits section’...I have also sourced information from this site for my friends (like family fun, playgroups around my area) who work in smaller companies that don’t have such great facilities.

I love browsing the ideas for family weekends, and how the company is flexible with my ever changing needs as my family grows. The tips and childcare information has been a big help with adjusting from being a full time mother to a full time working mother, and the budget saving tips are helping my work/life balance out splendidly with money left over sometimes too!

First of all; that the company has a program and recognises people have other commitments or priorities as well as their work and the effort placed by the company to support the families especially those who really need the assistance. Secondly there are a variety of support features through the website, not only for young children but also for aged parents and grandparents.

I found the information regarding aged care very useful when I was investigating options for my father.

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Employee feedback


The Australian Business Award for Product Value recognises products that deliver outstanding value offering a point of difference from their competitors.

Client feedback

“ “Our organisation has offered a parental support program through Seventeen Hundred going on 4 years now and we get consistent great feedback from our employees. There is a lot of valuable information for parents, especially first time parents. The program provides great support and services and recognises the importance of families balancing a career and family life. Keep up the great work!

- Employee Relations People & Culture, EnergyAustralia

EPA Victoria launched SeventeenHundred’s Parental Support Program and Senior Living Program in late 2012. Both programs have been well received and well used. Employees have commented that they find the programs educational as well as a handy resource. Many employees have commented they feel supported personally as well as professionally, and that by offering these programs, EPA Victoria recognises it’s employees as more than just ‘workers’ but as people who are part of a family.

- Director of Strategic Relations, EPA Victoria


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REWARD & RECOGNITION

Promotion of your work-life integration initiatives to be

recognised as an employer of choice.

On-site demonstrations and ongoing communication of

the programs

Introduction packs to demonstrate

the full service of programs

available

General, parental and senior living workshops with a focus on diversity, flexibility and lifestyle factors

Monthly eflyer

24/7 telephone

and email support

Weekly newsletters to employeesBabysitting vouchers

Locator reports for childcare or aged care

Up to date parental, return to work and dad’s pack to ensure you

are meeting compliance

and legislative requirements.

Advice, support and

workshops for transition into

retirement

Stay in touch program

Return to work pack

www.seventeenhundred.com.au | Ph. 1300 00 1700

life cycleTo ensure you get the best return on investment of our programs and services we will work with you to successfully integrate work-life solutions into your employee life cycle.

Date post:	02-Nov-2014
Category:	Recruiting & HR
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The business case for work life integration solutions

Recruiting & HR