Do you wish your job offered a better work/life balance? Find out why half of the world’s employed population would take a pay cut in order to prioritize their home lives.
Ford Motor Co. Study Reveals Workers’ Priorities
Ford Motor Co. surveyed workers across the world to find out more about their priorities, and the results came as a surprise to the organizers of the study.
Majority Would Take Pay Cut for Balance
52% of people would take a significant pay cut – up to 20% – in exchange for an improvement in their work/life balance.
The Generational Divide
American members of Generation Z and millennials were most likely to say they’d take up to a 20% pay cut in order to have a better work/life balance. Baby boomers were least likely, with only 33% of that group answering affirmatively.
Most Prioritize Balance Over Promotion
A whopping 77% of all those surveyed said that they think their work/life balance is more important than career growth.
Poor Work/Life Balance Leads to Stress
Stress is a recurring theme among people who wish for a better balance between work and home.
What Work/Life Balance Means to Americans
The idea of the perfect work/life balance is somewhat vague, though it seems most people just want a reasonable work schedule, livable and fair wage, and restorative time off.
Are Vacations Worth the Hassle?
Many Americans complain that their vacations don’t feel like true breaks because they’re often asked to handle work tasks during their off time.
Trouble in Paradise
Others feel that they spend more time at work than home, and their families pay the price. Stress at work often leads to stress at home.
Exploring the Service Industry
The service industry is one of the worst areas to work in terms of work/life balance. A staggering 94% of American service workers spend more than 50 hours a week at work, despite 40 hours being considered full-time.
Grueling Hours
This work tends to be around the clock, with weekend and night hours a normal part of business.
What Makes a Workaholic?
Almost half of American workers would call themselves workaholics, many of whom even find themselves working off the clock to stay caught up.
Work/Life Balance Matters in Job Hunts
While workaholics make up a large portion of the workforce, work/life balance is still a priority. 72% of workers surveyed said they consider work/life balance when making decisions about whether to take a new job.
Facing Burnout at Work
Burnout is a real concern among American workers, and the more they work, the worse it gets. Burnout can happen when workers are overworked, underappreciated, and underpaid.
How to Find a Healthy Work/Life Balance
The best way to achieve a healthy work/life balance is to start by determining what that looks like for you. Do you want to avoid working weekends? Is it important to you to be able to pick your children up from school every day? Do you need to take one mental health day per month?
What Can You Do?
If you’re one of the 52% of Americans who would be willing to take a pay cut in exchange for a better work/life balance, then consider these tips for balancing your life first so you don’t have to take a financial hit.
Set Boundaries
Setting boundaries at home and at work can make things run smoothly at both ends. This may mean making a habit of taking your full lunch break every day, leaving at exactly five o’clock, or not taking work home with you.
Take Time Off
If your job offers paid time off as a benefit, use it! Oftentimes, employees leave free money on the table when they refuse to take time off. Use that time to recharge, reconnect, and reset.
Ask For Help
Don’t be afraid to ask for help when things get too overwhelming. Whether you need your boss to reassign some of the workload on your plate or your family to step up to help with chores around the house, you can’t do it all, so use the resources you have available.
Make Time for Yourself
Finding time to do what you love will help your confidence, happiness, and overall well being. Exercise, hobbies, and travel are all great ways to connect with yourself.
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The post Would You Take a Pay Cut for a Better Work/Life Balance? 52% Say Yes first appeared on From Frugal to Free.
Featured Image Credit: Shutterstock / JLco Julia Amaral.
The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
