Impact of Work-Life Balance on High Revenue Generation for an Organization
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This research study explores the impact of work-life balance on higher revenue generation for UK companies. It analyzes the relationship between work-life balance, job satisfaction, and organizational commitment. The findings suggest a positive relationship between work-life balance and job satisfaction, as well as organizational commitment.
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Running head: PROFESSIONAL PROJECT Professional Project Topic: Impact of work-life balance on high revenue generation for an organization Code: Student Name: Student Number:
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1PROFESSIONAL PROJECT Executive Summary The research study was performed to understand the impact of work life balance on higher revenuegenerationofUKcompanies.Theworklifebalanceisassociatedtoemployee satisfaction along with organizational loyalty. The data were collected from sample of 18 UK companies based on its work life balance rating plus income. Therefore, secondary data collection method is used to analyze the data from the annual reports of selected companies in UK. The study had helped to understand expectations of the employees from the business organization and influenced the work life balance. Qualitative data analysis is used to analyze the collected data in theoretical form provides discussion on the work life balance impact on the organizational efficiency and income. The findings of this research study are that there is positive relationship between work life balance and job satisfaction, organizational commitment.
2PROFESSIONAL PROJECT Table of Contents 1. Introduction..................................................................................................................................3 2. Aim and objectives/ research question........................................................................................3 3. Preliminary critical literature review...........................................................................................4 4. Organization of the project..........................................................................................................7 5. Feasibility of project with timeframe..........................................................................................8 6. Conclusion.................................................................................................................................10 References......................................................................................................................................11
3PROFESSIONAL PROJECT 1. Introduction The project study is investigated the impact of work-life balance on high revenue generation for an organization. The research work is focused on finding out how the steadiness of work of life affects the fulfillment of the employees working in the organization. Buchheit et al., (2015) stated that work life balance is termed as need for the employees to accomplish acceptable balance of work and provide flexibility to the employees. According to Cahill et al., (2015),theorganizationalemployeesmadebalancebetweenworkaswellasnon-work responsibilities with a goal to increase productivity as well as reduce cost. The literature study is focused to link between work life balance as well as organizational revenue generation. This research topic is selected to add knowledge regarding better planning in financial investments to ensure a better work life balance. Due to change in the business environment, the researcher is interested in work life balance as well as its consequences; therefore the area of research is to be selected as the study purpose. The research study is focused on work life interference, measured by means of conflict among work as well as family; however study on enhancement of work life balance is suggested to be performed in further research. 2. Aim and objectives/ research question The aim of this project study is to find impact of the work life balance on the organizational commitment as well as employee job satisfaction to generate higher revenue. Based on the research aim, the list of research objectives are as follows: ď‚·To determine impact of the work life balance on the satisfaction of job to generate higher revenue
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4PROFESSIONAL PROJECT To determine impact of the work life balance on the organizational commitment to generate higher revenue The research question is focused on: “Do the United Kingdom companies for top work life balance have higher revenue generation?” 3. Preliminary critical literature review The work life balance is provided opportunities to the association as well as employees as it can lead to increase in revenue generation. The organization is being benefited with increase in organizational productivity; organizational commitment as well as team work (Balven et al., 2018). This research study provides the organizational managers to understand significance of the work life balance to improve arguments and increase in revenue. The literature study discusses on the work life balance correlated with job satisfaction as well as organizational assurance. Based on the selected objectives, the study is showing an impact of work life balance on selected two factors lead to generate higher revenue of the UK companies. Work life balance Deery and Jago (2015) stated that the work life balance practices are changes in the organization which is designed to lessen employment related conflicts. Work life balance will facilitate the employees to balance between work as well as personal roles. Chan et al., (2016) argued that balance in work life enhances quality of the individual relationship along with outcomes of business organization. According to Lee, Back and Chan (2015), the work life balanceisdrivingtosatisfytheemployeesworkingintheorganization.Mostofthe organizations are feeling that there is necessary to have work life balance included retention of
5PROFESSIONAL PROJECT the work forces, reduction of conflicts, and lessening of stress of employees, better work life balance and satisfaction of job. Mas-Machuca, Berbegal-Mirabent and Alegre (2016) concluded that the work life balance is required to enhance performance of employee at both work place as well as home. Some of the research work has resulted that female demonstrated require to work life balance in comparison with the male. The research work found that work balance practices are effected both business organizations along with individual performance. The work life balance is definite to manage the work as well as personal responsibilities. It is required support from the senior level management. As the work life balance is increasing motivation of employeeaswellasbusinessproductivity,thereforeitleadstoachievehigherrevenue generation. Job satisfaction Khavis and Krishnan (2017) discussed that job satisfaction leads to attitude of the employees towards the job. It is used to define content of the individual towards the job. Therefore,itisconsideredassignificantattitudetowardsthefieldof theorganizational behaviour. Each of the business organization is tried to define satisfied work forces to control the organizational well beings as satisfied workers are extended effort towards performance of job. Alegre, Mas-Machuca and Berbegal-Mirabent (2016) argued that the satisfaction level of employee and its commitment in the business is required to generate higher revenue. Employee satisfaction describes whether the employee is satisfied and fulfilled with requirements of the business. It helped the employees to build organizational commitment. Organizational commitment
6PROFESSIONAL PROJECT Starmer, Frintner and Freed (2016) discussed that there is negative relationship between jobstressaswellasorganizationalcommitment.Whenthereisreductionofstress, organizational performance will progress and the workers are being committed with the business organization as outcome of high level of business productivity. According to Khavis and Krishnan (2017), when there is reduction of stress level, the employees are motivated towards their work life. Policies of work life along with career opportunities are being connected with the assurance of the business organization. The research work resulted that employee’s role is affected due to conflict of job role of employees. Relationship between work life balance and satisfaction of job Recognition of the employee is linked with the work life balance leads to satisfaction to the employees in the organization. Work life balance is positively interrelated with the job satisfaction. The employees are pleased with the job and enjoy profits provided in work life balance programs leads to their work satisfaction. When the employees are motivated to work, then it leads to generate more income of the organization and high revenue (Deery & Jago, 2015).Itisconcludedthattheorganizationprovidesimportancetoitsproductivityand profitability leads more income of the organization.It can lead to increase in organizational sales as well as expenses related to the provided services. It is required to understand relationship between job satisfactions of employee as well as organizational commitment provide basis towards future research work. Relationship between work life balance and organizational commitment Both work life balance as well as organizational commitment is vital as it can play a key function in increasing the organizational performance. There is positive relationship between
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7PROFESSIONAL PROJECT work life balance as well as managerial commitment. The organization is focused to improve satisfaction as it can reduce stress throughout the policies of work life balance. The employees are satisfied to effort into the organization as it can help to balance among requirements of personal and work life (Buchheit et al., 2015). When it is difficult to balance work in addition to personal life, then organizational commitment leads to organizational revenue generation. 4. Organization of the project Overview of proposed methods of data collection Secondary data collection is selected to gain information on the selected topic. The research question for this work is to analyze higher generation of business revenue of companies in UK. Independent as well as dependent variables is to be identified for this research study. The independent variable is work life balance and dependent variables are revenue generation. The work life balance rating of the chosen UK companies are taken from the yearly reports of the selected 18 companies. Therefore, the total sample size to conduct the research work is 18. The 18 companies are selected from the link: https://www.glassdoor.com/about-us/glassdoor-reveals- the-20-highest-rated-companies-for-work-life-balance-in-2018/. The selected secondary research work is used in the study process to evaluate the work life balance of the UK companies. The secondary sources are annual report of the selected companies, news paper articles, peer review articles and others. This method is involved to use existing data those are not involve into the real data collection (Mackey & Gass, 2015). The data are to be analyzed to extend observed research findings and addressed new questions which are not part of the published analysis of the information. The researcher has chosen to perform the secondary analysis as existing data set is easier to get as compared to designed one.
8PROFESSIONAL PROJECT Sampling approach As the population of this research study, 18 UK companies based on rating of work life balance and income are selected for the research purpose. The total companies are selected as study of the population related to the research work. The sampling method is a process to select the sample population. Based on selected data collection method, the selected sampling approach is stratified sampling (Kumar, 2019). It is involved in division of population in smaller groups. It is formed throughout shared attributes of members and also characteristics. Data analysis Qualitative data analysis is used as research method where it is helpful to generate test the research question as well as provide the research findings by gaining of knowledge (Flick, 2015). Based on the selected companies, in the excel sheet, the name of the companies, its work life balance rating, net income (2018), unit and links are provided to analyze and provide information related to the selected research work. The purpose of this data analysis technique is to generalize the statementsby comparison of different materialsrelated to the selected companies. The information is based on work life balance rating along with income so that it is easier to determine the revenue generation of organization. 5. Feasibility of project with timeframe Task NameDurationStartFinish Research Plan60 daysTue 7/16/19Mon 10/7/19 Project Proposal19 daysTue 7/16/19Fri 8/9/19
9PROFESSIONAL PROJECT Selecting a topic for the proposal9 daysTue 7/16/19Fri 7/26/19 Identify the research aim and objective 6 daysMon 7/29/19Mon 8/5/19 Preparing a research question4 daysTue 8/6/19Fri 8/9/19 Literature review8 daysMon 8/12/19Wed 8/21/19 Prepare a conceptual framework on the selected topic 3 daysMon 8/12/19Wed 8/14/19 Review the sources3 daysThu 8/15/19Mon 8/19/19 Identify the search terms2 daysTue 8/20/19Wed 8/21/19 Data collection and analysis27 daysThu 8/22/19Fri 9/27/19 Search for the secondary sources10 daysThu 8/22/19Wed 9/4/19 Analyze the sources6 daysThu 9/5/19Thu 9/12/19 Findings of the study5 daysFri 9/13/19Thu 9/19/19 Data interpretation6 daysFri 9/20/19Fri 9/27/19 Final report submission6 daysMon 9/30/19Mon 10/7/19 Conclude the entire report3 daysMon 9/30/19Wed 10/2/19 Draft the work2 daysThu 10/3/19Fri 10/4/19
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10PROFESSIONAL PROJECT Final submission to supervisor1 dayMon 10/7/19Mon 10/7/19 6. Conclusion It is concluded that study has found that there is impact of work life balance on the higher revenue of the organization. From the discussion, it is concluded that employee’s working along with work life balance can provide effect on the fulfillment level of employee. The researcher will show that there is impact of work-life balance on high revenue generation for UK companies. From various views of the researchers, it is stated that revenue generation into the organization is increased by making sure that service quality should meet with the customer’s satisfaction. Therefore, the research study will provide benefit to both selected organizations as well as employees as work life balance provides result on person along with work life.
11PROFESSIONAL PROJECT References Alegre, I., Mas-Machuca, M., & Berbegal-Mirabent, J. (2016). Antecedents of employee job satisfaction: Do they matter?.Journal of Business Research,69(4), 1390-1395. Balven, R., Fenters, V., Siegel, D. S., & Waldman, D. (2018). Academic entrepreneurship: The rolesofidentity,motivation,championing,education,work-lifebalance,and organizational justice.Academy of Management Perspectives,32(1), 21-42. Buchheit, S., Dalton, D. W., Harp, N. L., & Hollingsworth, C. W. (2015). A contemporary analysis of accounting professionals' work-life balance.Accounting Horizons,30(1), 41- 62. Cahill, K. E., McNamara, T. K., Pitt-Catsouphes, M., & Valcour, M. (2015). Linking shifts in the national economy with changes in job satisfaction, employee engagement and work–life balance.Journal of Behavioral and Experimental Economics,56, 40-54. Chan, X. W., Kalliath, T., Brough, P., Siu, O. L., O’Driscoll, M. P., & Timms, C. (2016). Work– family enrichment and satisfaction: The mediating role of self-efficacy and work–life balance.The International Journal of Human Resource Management,27(15), 1755-1776. Deery, M., & Jago, L. (2015). Revisiting talent management, work-life balance and retention strategies.International Journal of Contemporary Hospitality Management,27(3), 453- 472. Flick, U. (2015).Introducing research methodology: A beginner's guide to doing a research project. Sage.
12PROFESSIONAL PROJECT Khavis, J., & Krishnan, J. (2017). Employee satisfaction in accounting firms, work-life balance, turnover, and audit quality.Work-Life Balance, Turnover, and Audit Quality (December 21, 2017). Kumar, R. (2019).Research methodology: A step-by-step guide for beginners. Sage Publications Limited. Lee, J. S., Back, K. J., & Chan, E. S. (2015). Quality of work life and job satisfaction among frontlinehotelemployees:Aself-determinationandneedsatisfactiontheory approach.International Journal of Contemporary Hospitality Management,27(5), 768- 789. Mackey, A., & Gass, S. M. (2015).Second language research: Methodology and design. Routledge. Mas-Machuca, M., Berbegal-Mirabent, J., & Alegre, I. (2016). Work-life balance and its relationshipwithorganizationalprideandjobsatisfaction.JournalofManagerial Psychology,31(2), 586-602. Starmer, A. J., Frintner, M. P., & Freed, G. L. (2016). Work–life balance, burnout, and satisfaction of early career pediatricians.Pediatrics,137(4), e20153183.