In Randstad's latest Workmonitor survey of 27,000 workers, findings reveal a global shift in priorities. While 56% of respondents identify as ambitious, only 47% prioritize career advancement—with many workers choosing work-life balance, flexibility, and mental health over traditional career progression and job opportunities.
Companies have recognized the significance of maintaining a healthy equilibrium between professional commitments and personal life. They are implementing measures to ensure that one doesn't take over at the cost of the other. The Canadian Centre for Occupational Health and Safety links four main categories to work-life balance:
-
Role Overload: When the demands of multiple roles exceed available time and energy, leading to inadequate performance.
-
Work-to-Family Interference: Work responsibilities hinder fulfilling family duties, such as attending events or enjoying family time.
-
Family-to-Work Interference: Family demands make it harder to meet work obligations, such as dealing with family emergency care or home conflicts affecting work concentration.
-
Caregiver Strain: The burdens caregivers face in their daily lives due to providing care or assistance to someone in need.
Understand the practices of leading sectors to address these conflicts and learn valuable lessons to enhance the overall employee well-being and satisfaction within your company, ultimately driving retention and productivity. This guide outlines the best industries to work in for a healthy work-life balance and highlights successful strategies for companies that want to better support their workforce.
Industries that Embrace Work-Life Harmony
Why is work-life balance important? It’s a critical factor in enhancing productivity and effectiveness by allowing your team to recharge and maintain focus. Moreover, it can prevent employee burnout and chronic stress, which can take a toll on both physical and mental health.
When workers feel supported in managing their responsibilities, they are more likely to remain with their employers. Beyond individual well-being, prioritizing work-life balance cultivates a positive company culture and boosts employer branding, making it easier to attract top talent and enhance organizational reputation. The following are leading examples of industries that serve to illustrate this impact:
1. Technology
The tech industry includes software development, hardware manufacturing, IT services, internet, telecommunications, biotech, AI, and cybersecurity, among others. Despite big tech layoffs, tech talent is still in high demand for professions such as web developer and IT specialist, with candidates seeking roles that prioritize happiness and work-life balance.
According to Adobe’s Future Workforce Study, the absence of work-life balance is one of the top reasons Gen-Z candidates reject job offers. To address this, tech companies are shifting from flashy perks to more meaningful benefits like mental health support, fitness reimbursements, and parental leave.
The tech sector also spearheads work-life integration by offering remote work options and flexible schedules and working hours to accommodate diverse lifestyles. Employees have the autonomy to structure their work days, empowering them to optimize productivity while maintaining personal obligations.
Big companies like Google and Microsoft have pioneered innovative practices, including thorough vacation policies and on-site amenities. Google's culture prioritizes work-life balance. Just look at the "20% time" policy initiated by founders Larry Page and Sergey Brin, encouraging employees to dedicate part of their work week to personal projects. This approach has led to the creation of groundbreaking products like Gmail and Google Maps. In August 2019, Microsoft Japan introduced the "Work Life Choice Challenge," adopting a four-day workweek to promote better work-life balance, which resulted in a remarkable 40% increase in employee productivity.
2. Insurance
The insurance industry offers diverse career opportunities across various fields from finance and law to marketing and customer service.
Here are some of the career opportunities they provide:
-
Insurance Agent or Broker
-
Underwriter
-
Claims Adjuster
-
Actuary
-
IT Specialist
-
Legal Counsel
-
Customer Service Representative
-
Risk Analyst
-
Project Manager
Insurance companies are implementing tailored initiatives to empower employees to achieve harmony between their professional and personal lives, promoting work-life balance through tailored flexibility like remote work options and personalized scheduling.
Holistic wellness programs, mental health support, and stress management resources are just a few ways the insurance industry supports work-life balance. Additionally, generous leave policies allow employees to recharge and mitigate burnout risks. A lot of companies in this sector invest in dedicated employee assistance programs, fostering a supportive and family-centric workplace culture.
Progressive Group of Insurance Companies, a leading insurance brand in the US, offers auto, motorcycle, RV, commercial, and homeowners insurance policies, serving millions annually. Leading insurance companies such as Progressive offer competitive supplementary benefits, including 401(k) retirement plans, tuition assistance, financial well-being programs, health coverage, mental health support, fitness center access, and maternity assistance.
3. Finance and Banking
The finance and banking sector is the backbone of economic activity, comprising institutions that manage and facilitate financial transactions, investments, and monetary activities. From commercial banks to investment firms, this sector offers a wide array of services, including savings and checking accounts, loans, mortgages, investment advice, and insurance policies. In this sector, a shift towards work-life harmony is evident as companies adopt flexible work arrangements and supportive policies.
Financial advisors often operate in both corporate environments and as freelancers, serving their clientele. Initiatives such as unlimited vacation time and flexible leave arrangements empower employees to take time off without guilt or burden.
Moreover, the sector often invests in supplementary benefits like wellness programs and on-site amenities, such as physical therapy. They also leverage technology for efficiency and redefine performance metrics to focus on outcomes that support work-life harmony, setting a standard for modern workplaces.
American Express, a renowned financial services company, prioritizes work-life balance through flexible work arrangements and a supportive corporate culture. They prioritize employee well-being with comprehensive benefits, including medical coverage, generous parental leave, and resources like the Healthy Minds program for mental health support. Their flexible working model, Amex Flex, offers options such as hybrid, onsite, or fully virtual arrangements, while initiatives like Smart Saving help employees plan for their financial future with a 401(k) program and financial coaching.
4. Real Estate
The real estate industry deals in buying, selling, leasing, and developing various properties, from residential homes to commercial spaces and industrial facilities. It provides housing, office spaces, retail outlets, and infrastructure for communities while facilitating investment opportunities and economic development.
The real estate industry is redefining work-life balance through targeted initiatives and innovative practices such as:
-
Flexible Work Arrangements: Real estate firms lead in offering flexible work arrangements, leveraging technology, and providing comprehensive training to promote work-life balance for agents. Through adaptable schedules and remote work options, agents can manage their time effectively.
-
Training and Mentorship Programs: Ongoing training and mentorship empower agents to succeed while maintaining balance. Efficient client communication and task automation further support workload management.
-
Health and Wellness Services: Wellness initiatives, including fitness challenges and mental health resources, create a supportive environment for self-care and recharge.
-
Technology Integration: Technology integration in the real estate industry improves work-life balance by providing agents with flexible tools for property management and client communication, allowing them to juggle work responsibilities more efficiently alongside personal commitments.
Top real estate companies prioritize the well-being of their agents through various initiatives and supplementary benefits. Agents benefit from fair commissions for their sales or rentals, as well as perks like health insurance and retirement options. Mentorship programs offer guidance from experienced agents, while some firms offer a digital-first approach with online platforms for work. Flexible paid time off and comprehensive medical insurance further support agents' needs.
5. Human Resources
Human resources (HR) involves various aspects of workforce management. This includes recruitment, training, compensation, employee relations, and employment law compliance. HR’s main objective is to ensure that the organization has a skilled and motivated workforce to achieve its goals.
A Glassdoor survey conducted for Reboot Digital PR, ranks the HR sector at number two for the best industries to work in. HR can lead by example to foster a work culture that promotes productivity, creativity, and job satisfaction.
Corporate recruiters, also called headhunters, find and hire the best people for company jobs. They search for candidates, interview them, and choose the most qualified. They have the flexibility to take time to find the right candidate. The HR sector promotes employee well-being, leading to satisfaction and job security, which boosts retention and productivity.
Creating a Healthy Work-Life Balance with an EOR
Apart from offering competitive benefits such as mentorship programs and access to mental health and medical services, companies can also consider other ways to assist their workers in managing their workload and promote a healthy work-life balance.
When it comes to navigating international employment laws, global payroll, taxes, and more, the process can be overwhelming and distract from priorities to drive business growth.
An Employer of Record (EOR) serves as a partner, handling all aspects of international employment compliance, payroll, and HR, allowing your team to focus on their work without the additional burden of administrative tasks.
Why Borderless AI?
Borderless AI enables businesses to compliantly hire, manage, and pay talent worldwide without establishing a foreign entity. We alleviate the complexities and risks associated with hiring global employees with zero deposits, dedicated in-house support, and AI-powered global employment law resources.
Book a demo today!
