A Comparative Study on Work-life Balance in Banks of Bangladesh

Prepared by: Farhana Mofiz Mashrifa Islam Tazrian Shainam Shahid Farha Hasin Moushumi Sohel Sagar Shajid Islam

Roll- 61 Roll- 62 Roll- 68 Roll- 70 Roll - 75 Roll -108

Work–Life Balance
 Work–life balance is a broad concept which

essentially refers to proper prioritization between "work" i.e. career and ambition on the one hand and life i.e. health, pleasure, leisure, family and spiritual development, on the other. [Boswell, Wendy, and Julie Olson-Buchanan (1993). ]

Work–Life Balance .

.

.

Importance of Work-life Balance  Symptoms of stress are manifested both physiologically and psychologically.     Growth and profit impact. Health-care cost solution. Full Engagement and customer service. . Competitive advantage for talent.

Central Bank of Bangladesh  BASIC Bank.A locally owned bank .A multinational Bank  Prime Bank Limited.Banks in Focus  Bangladesh Bank .A specialized development bank  Hongkong Shanghai Banking Corporation.

Policies in Focus  Special Leave Arrangements  Parenting and Pregnancy Leave Policies  Flexible Work Arrangements  Additional Work Provisions  Maintenance of Formality  Employee Experience and Equity of Practice .

  Data Source  Both primary and secondary .life balance” policies in our banking industry.  To compare the present work life balance structure of 4 different banks  To investigate how employees rank certain work life balance polices.Methodology  Objectives To find out the practice of “work.

 Data Collection Questionnaire Survey (primary)  Literature Review (secondary)   Limitations Lack of experience:  Sample Size  Time and resource constraints  Non Co-operation by the respondents  Bias  .

Special Leave Arrangements HSBC Carer’s Leave* Study/ training leave Career breaks Festival leaves Bereavement Leave Pooling Leave Entitlement Policy not available Prime BASIC Bangladesh Bank Bank Bank Policy Available .

Maybe. Carer‟sleave is among the employeesculture leave did Academics isimportancenot available in HSBC Bangladeshi Berevementgiven high significance in very HSBC. level of arrangementonly rankthe in important Pooling Leave is only available which is probably why all areemployees gave this any of the Career Breaks the and to higher income Bank. importance. banks . ofnot available incriterion high 4 due Bangladesh brackets employees.Special Leave Arrangements 6 5 4 3 2 1 HSBC Prime BASIC BB Carer‟s Leave* Study/ Career breaks training leave Festival leaves Bereavement Leave Pooling Leave Entitlement 0 Festival leave is available in all 4 banks with high Study and Training leave is only available in Bangladesh Bank.

Parenting & Pregnancy Policies Prime BASIC HSBC Bank Bank Unpaid maternity/paternity and adoption leave Paid maternity leave Paid paternity leave Paid adoption leave Opportunity to return to the same job after maternity/paternity leave Safety at work during pregnancy Pre-natal leave Flexible work time for a fixed time period after maternity leave A carer’s room or day care facilities and bringing children to work options Employer assistance with childcare Bangladesh Bank .

Parenting & Pregnancy Policies 6 5 4 3 2 1 0 Unpaid Paid maternity leave Paid paternity leave Paid adoption leave Opportunity to Safety at work during maternity/paternity return to the same pregnancy and adoption leave job after maternity leave Pre-natal leave Flexible work time A carer‟s room or day Employer assistance for a fixed time care facilities and with childcare bringing children to period after maternity leave work options HSBC Prime BASIC BB .

Paid adoption leave received a low level of importance probably because adoption is not very popular in Bangladesh. Pre-natal leave -There was no special provision for this leave. safety is very important for the health of the baby hence this arrangement is given high rating of importance. Opportunity to return to the same job after maternity leave .most of the employees rated this leave arrangement important because even after the baby is six months it still needs special attention and care.During pregnancy. Safety at work during pregnancy.Findings on Parenting and Pregnancy Leave Policies    Paid Maternity and Paternity leave received a very high level of importance Unpaid maternity leave was not rated important. job security after maternity leave has become very important.      . A carer’s room or day care facilities and bringing children to work options-Bangladesh bank and Prime bank rated this leave arrangement highly. Though not present as a structured policy this is however present as cultural norm in all organizations. Flexible work time for a fixed time period after maternity leave. Employees generally use up their sick leaves in such cases. In a decade where families are becoming more nuclear and domestic help short in supply this facility is an important benefit to employees.With increasing number female workers in the workforce.

Flexible Work Arrangements HSBC Job sharing Telecommuting Prime Bank BASIC Bank Bangladesh Bank Maximum overtime allowed Opportunity to negotiate part-time work for full-time employees Time/off in lieu for working on holidays Flexible start and finish times Gradual retirement .

for working on and finish times time work for holidays full-time employees Gradual retirement HSBC Prime BASIC BB .Flexible work arrangements 6 5 4 3 2 1 0 Job sharing Telecommuting Maximum overtime allowed Opportunity to Time/off in lieu Flexible start negotiate part.

Findings on Flexible work arrangements:  Culturally Bangladesh bank has more flexibility where as HSBC have least.  Job sharing was rated highly important in the job as it helps reduces stress. Gradual retirement which is not available in Bangladesh also helps reduce stress at old age.  Gradual retirement helps employees slowly adapt to different lifestyles and also helps reduce stress which becomes increasingly more difficult to handle as age elevates. .

training and development .Additional Work Provisions Prime Bank BASIC Bank Bangladesh Bank HSBC Telephone for personal use Counseling services for employees Referral services for employees Health program Parenting or family support program Exercise facilities Relocation or placement assistance Equal access to promotion.

training and development .Additional Work Provisions 6 5 4 3 2 HSBC Prime BASIC BB 1 0 Telephone Counseling for personal services for use employees Referral services for employees Health program Parenting or family support program Exercise facilities Relocation or Equal access placement to assistance promotion.

Findings on Additional Work provision  Additional work provision arrangements are provided as fringe benefit that will achieve two-fold objectives of motivating the employees as well as take care of employee well-being. telephone for personal use and health programs. employees showed higher level of importance for equal access to promotion and development. .  In the four banks analyzed.  These arrangements are drawn every month on top of monthly salaries.

Maintenance of Formalities 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Bangladesh Bank BASIC Bank HSBC Yes No Yes No Yes No Prime Bank Written copies Seen or given a Ease of of their „workcopy of their understanding life‟ balance „work-life‟ the work life policies balance balance policies policies .

Employee Experience and Equity of Practice 90 80 70 60 50 40 30 20 Bangladesh Bank BASIC Bank HSBC Prime Bank 10 0 Yes No Don‟t Know Yes No Don‟t Know Yes No Don‟t Know Yes No Don‟t Know Yes No Don‟t Know Equivalent treatment Similar access to both Similar treatment to of „work-life balance‟ male & female both part-time & employees fulltime employees policies to all levels Encouragement to use „work-life balance‟ policies Suitable time for social functions .

Employee Experience and Equity of Practice 6 5 4 3 2 1 HSBC Prime BASIC BB 0 Equivalent Similar access to Similar treatment Encouragement Suitable time for treatment of both male & to both part-time to use „work-life social functions „work-life balance‟ policies female employees & fulltime balance‟ policies employees to all levels .

Findings on Employee Experience and Equity of Practice  With the rate of female employees rising in the workforce. .  It is probably a reflection of the long hours that all bank employees have to put in that they have arbitrarily rated the allowance for suitable time for social functions as high. it is not surprising that employees rated the similar access to both gender an important criterion.  Equivalent treatment policies to all levels of employees were  Encouragement to use „work-life balance‟ policies were also rated high depicting that the employers‟ attitude towards work-life balance policy is important to the employees. also rated highly important on average.

The added cost will benefit the organization by reducing employee stress. Eliminate discriminatory treatment Day – care arrangements. Part time work opportunities.  Parental leave.Telecommuting is a great way to achieve work life balance as one can save the time spent to communicate and escape the rigid office hours. Telecommuting.Recommendations  Flexible hours. Facilitate professional help through Employee Assistance program (EAP).Parental leave by its nature is intended to cope with times of particular stress or change in the family especially in the dual-earning family.Part-time work should be an attainable option without loss of benefits or becoming marginalized in the organization. Job share. who need arrangements to drop and pick the children from school. increasing the focus and reducing employee turnover. where an individual can be assured that the job is being carried out properly by someone else when they are not working.       .Job share is a particular type of collective part-time arrangement.Organization may initiate a program like employee assistance program which provides advisory services to the employees and that is for free of charge and confidential.Arrangements for flexible hours working can be of particular benefits for parents with younger children.

Thank You .