New research has found that work-life balance in Australian companies has worsened in the last 12 months.
Flexible workplace provider and consultancy Regus tracks work-life balance via a year-on-year index, and found Australia is down 13 points compared to the same time last year.
What’s more, Australia is currently tracking at 116 points, below the global average of 120.
“It’s a well-known fact that happier staff are more productive and more likely to stay in their jobs. However, some businesses still don’t seem to be grasping this simple concept,” Jacqueline Lehmann, Country Head of Regus Australia commented.
“Businesses need to realise that to attract and retain talent they must focus on extending their flexible working policies, such as offering a choice of work locations, particularly with the younger generation,” Lehmann added.
Curiously, despite working more, younger staff are happier than their older gen counterparts. The gen X and gen Y indices both sit at sits at 119 points, which is 9 points higher than the Baby Boomers.
The research also drilled down into ages and job roles, the data reveals that those that are managing to stay happiest in their jobs are younger staff and the bosses.
Key comparisons amongst the Australian findings show:
Bosses get more home and family time compared to employees: 36% of business owners are spending more time away from home this year, compared to 45% of staff
Business owners are the happiest of all: Work-life balance score of business owners sits at 119 points, up five points compared to employees
SMEs have happier staff: 69% of small business staff (less than 50 employees) reportedly enjoy work more than last year, compared to 59% of larger businesses (250+ employees)
Younger staff are working harder and achieving more: Only 63% of Baby Boomers report that they are achieving more at work in the last year, compared to 81% of Gen X and Gen Y workers
*The study was based on the views of 26,000 professionals in more than 90 countries.