Indians are ahead of their German and Japanese counterparts in effectively handling work-life balance, according to an EY survey.
Of the 9,700 employees surveyed, 34% of Indians found managing work, family and personal responsibilities difficult, as compared with 49% in Germany, 44% in Japan, and 37% in the UK, according to an EY report titled `Global Generations: A global study on work-life challenges across generations’.
The report also shows that the top reasons for millennials quitting their jobs in this country are lack of opportunity for advancement (78%), a work environment that doesn’t encourage teamwork (77%), and excessive overtime hours (77%).
“The results are not exactly surprising; it is evident that handling work-life balance is getting more difficult, and parents are being hit the hardest,“ says Sandeep Kohli, national director -HR, Ernst & Young. “Attrition rates continue to be high in India, driven by low-wage growth and a lack of options for flexible work.“
He is, however, upbeat about the workplaces of the future. “Businesses are picking up, the job market is on the upswing, and wage growth will rise in turn.“
Extensive work hours have an adverse effect on managers in India, with 55% working more than 40 hours a week. India is also one of the countries reporting the highest increase in work hours for parents.
On a global scale, one-third of full-time employees say it has become more difficult to manage workfamily in the past five years, citing reasons like expenses increasing disproportionate to salary, and added responsibility at the workplace.Other top reasons cited were higher levels of responsibility at home, working longer hours and having children.
Approximately half (46%) of managers surveyed worldwide are working more than 40-hour weeks, and four in 10 say that their hours have increased over the past five years.
As in India, flexibility continues to be a pressing issue globally, with a lack of options for telecommuting being a major concern among 70% parents who are employed full-time.
The survey was carried out on approximately 9,700 full-time employed adults aged 18-67 years, across a variety of companies in the US, UK, India, Japan, China, Germany, Mexico and Brazil.
Source: Economic Times
Date: 5th June 2015