Due to the current skill shortages faced by both Australia and New Zealand and the prospect of an ageing workforce, it is now imperative for organisations to embrace work/life balance practices to attract and retain talent, not only from traditional sources but also from untapped and diverse social groups (Cohen et al, 2002).
This paper attempts to define what work/life balance is and identifies the benefits it can bring from both employer and employee perspectives.
It also examines the complications in achieving the balance between work and personal goals and discusses the current trends and solutions organisations have in place for their employees to assist in achieving the balance between work and their life.
And importantly, organisations can expose themselves to increasing numbers of dissatisfied and unproductive employees by not providing real opportunity for employee work/life balance.
So it is important to realise that creating a work/life policy structure is not enough; development of an organisational culture that supports the use of available policies is also of great importance (Bratton, 2003).