6.) Achieving Work-Life Balance; "In Sri Lanka's Financial Climate"

Juggling Priorities;  "Work-Life Balance in the

 Face of Financial Challenges in Sri Lanka"

By Nirmala Rathnayake

Having explored the broader concepts of work-life balance on a global scale in my earlier blog posts, and today we explore a more focused examination. My attention now turns to uncovering the pragmatic strategies for achieving work-life balance in Sri Lanka, where financial hurdles add an extra layer of complexity that we all experiencing. In this discussion, I embark on a journey of research and exploration to illuminate effective approaches that resonate within the Sri Lankan context, considering the unique interplay between work, personal life, and economic constraints. And research support with sources via newspapers articles, Sri Lankan and International journals. 

Let's Explore; Is it feasible for employees and organizations in Sri Lanka to strike a balance between their work and lives?

In the modern world, finding a balance between job and personal life has become a challenge for many of us. In nations like us in Sri Lanka, where financial difficulties frequently exacerbate the difficulties of managing one's time and priorities, this battle is particularly obvious. In this blog article, we examine the complex between work-life balance and Sri Lanka's current economic environment. Work-life balance became a key research topic when workplace dynamics started to change as a result of economic illiquidity, which resulted in a struggle for survival in the enterprise. The impression of control over how much time is spent working against how much time is spent not working is known as work-life balance (Sen & Hooja, 2015).

This blog article exploring; In Sri Lanka's current Challenges and Way Forward work-life balance;

To successfully balance work and personal obligations, healthy and supportive work environments must be created and maintained. Employee loyalty and output will both rise as a result. Today's workers must juggle a number of responsibilities, including work, child rearing, home maintenance, volunteering, caring for a spouse, and caring for elderly parents, to name a few. The topic of work-life balance is significant because it affects people, their businesses, and their communities. Aging populations, record-low unemployment rates, and globalization have only worsened matters (Dhas & Karthikeyan, 2015).

        1.) Current Challenges for Work-Life Balance;

            1.1 ) Financial Struggles and Stress :

Financial crises lead to increased financial stress for individuals and families. Worries about job stability, paying bills, and meeting basic needs can contribute to higher stress levels, making it harder to detach from work concerns and enjoy personal time. Therefore people urgently prioritize work in order to support themselves and their families because of the high cost of living, inflation, and the scarcity of employment options. The necessity of earning a living might occasionally override the value of downtime and solitude. Due to the high cost of living people's stress levels are so high and difficult to find balance in work and life. In the Year 2022 Jan; 1US$ is equal to Sri Lanka Rupee 200.40, but in the year, 2023, March it was 336.80. Central Bank Sri Lanka. 

These financial burdens effecting negatively for people and organizations and it's very challenging to find balance in work and life. Organizations' income drops due to financial crises, including, Hospitality Industry, Agriculture, the Health sector, Travel and Tourism, Banking, and IT are some of the major impacted sectors and this directly and negatively impact people's life with lots of financial issues and it's very challenging to balance work and life. However, the tremendous amount of stress brought on by having to report to work is largely borne by the workforce. During this process, the employees cannot afford to ignore the various demands from their personal lives that are piling up and are equally vital. Nowadays, it is difficult to manage professional and personal obligations, increase productivity, and lead a calm life (Muthukumar et al., 2014).

        1.1.1 Goal Theory In Financial Crisis: 

Goals help employees to define priorities, consider what skills to apply, and serve to motivate.  (Latham and Locke, 1979). Human Resource Management  goal theory can be applied to address the challenges posed by a financial crisis in a country, and it can also help explain the effects of work-life balance during such crises. Let's break down how HRM goal theory can be relevant in both contexts:

• HRM Goal Theory in a Financial Crisis:

HRM goal theory involves setting and aligning HRM goals with overall organizational objectives. In the context of a financial crisis in a country, organizations may face various challenges such as economic instability, reduced consumer spending, and uncertainty. Applying HRM goal theory can help organizations navigate these challenges effectively:

Cost Reduction: One of the primary goals during a financial crisis is often cost reduction. HRM can play a significant role in achieving this goal by optimizing workforce utilization. This may involve strategies like workforce downsizing, furloughs, or reducing non-essential expenses related to employee benefits.

Maintaining Core Competencies: While reducing costs is essential, organizations also need to retain their core competencies to remain competitive when the crisis subsides. HRM can help identify key talent and ensure they are retained, even if there are workforce reductions. This aligns with the HRM goal of preserving essential human capital.

Adaptation and Flexibility: HRM should be flexible to adapt to changing circumstances during a financial crisis. HR can assist in cross-training employees to perform multiple roles, enabling the organization to respond to fluctuations in demand or supply chain disruptions. This aligns with the goal of maintaining flexibility in HR practices.

Employee Morale and Engagement: HRM should focus on maintaining employee morale and engagement, as these factors can impact productivity and innovation during challenging times. HR can implement strategies like clear communication, recognition programs, and employee assistance programs to address employee concerns and maintain motivation.

• Work-Life Balance and HRM Goal Theory:

Work-life balance is an essential aspect of HRM, and it can be explained through HRM goal theory as follows:

Alignment with Organizational Goals: HRM goal theory emphasizes aligning HR practices with overall organizational objectives. Work-life balance initiatives contribute to this alignment by promoting employee well-being and job satisfaction. Employees who have a better work-life balance are often more productive and engaged, which supports the organization's goals of increased productivity and employee retention.

Attracting and Retaining Talent: In a competitive job market, organizations that offer work-life balance initiatives are more likely to attract and retain top talent. This aligns with HRM goals related to talent acquisition and retention.

Enhancing Employee Performance: Work-life balance contributes to employee well-being, reducing burnout and stress. This, in turn, can lead to improved job performance, meeting HRM goals related to performance management.

Legal Compliance: HRM goal theory includes legal compliance as a goal. Implementing work-life balance policies and practices ensures compliance with labor laws and regulations related to employee working hours and conditions.

HRM goal theory can be applied during a financial crisis to help organizations navigate challenges by focusing on cost reduction, talent retention, flexibility, and employee well-being. Work-life balance initiatives are an integral part of HRM goal theory, as they align with organizational objectives, attract and retain talent, enhance performance, and ensure legal compliance.

        1.2) Reduced Quality of Life : 

An economic decline lowers the overall quality of life by restricting access to entertainment and leisure pursuits due to high inflation and costs not affordable to many citizens. The ability to unwind and enjoy personal time away from work is subsequently hampered, making work-life balance rare. . Economic difficulties find work more difficult, making it harder to strike a balance between one's professional and personal lives. 

                                Source: Department of Senses and Statistics (2023) 

                             

The idea of work-life balance goes beyond simply allocating time for work and play to include preserving one's physical, psychological, and emotional well-being. Furthermore, as a result, people reduce time and money for entertainment and pleasures due to high living costs and financial challenges. This creates even more stressful situations and burnout is all too typical in a culture where long workdays are the norm.  Furthermore, as a result, people reduce time and money for entertainment and pleasures due to high living costs and financial challenges. This creates even more stressful situations and burnout is all too typical in a culture where long workdays are the norm.                                                        

Making time for family, personal interests, and self-care becomes a challenging problem. When financial difficulties are foremost, striking a balance between these responsibilities becomes an even more delicate act. People frequently feel pressured to put in excessive hours at work, which can strain relationships and cause them to overlook self-care. The fundamental substance of life's pleasures may be neglected, leading to a vicious cycle of stress and a lowered standard of living. 

       

 1.3) Brain Drain in the Industry:            

Staff turnover and migration significantly increased and impacted work-life balance by creating an environment of instability and uncertainty. Frequent departures lead to increased workloads for remaining employees, often resulting in longer hours and heightened stress. The constant need to train new team members diverts time and attention from personal activities. 

                                                         Source: The Sunday Times (2023)

This craze from immigration is going to have a hugely detrimental effect on Sri Lanka as it will be left with very few skilled workers to develop and contribute to the Sri Lankan economy. South Asia Monitor(2023).   All these effects for current employees and it'll be a huge challenge for organizations to the development of strong team cohesion and collaborative efforts, further affecting work-life equilibrium and stressful environments. The quality of services offered to the general public will be threatened by the growing outflow of professionals and trained workers to other nations, experts warn. According to statistics, there was a significant brain drain in the country last year, with 14,307 professionals leaving, compared to 2,957 in 2020 and 8,373 in 2021. Most of the professionals were between the ages of 30 and 39, according to the Bureau of Foreign Employment. 8,130 middle-level workers left the country in 2022 as well. While only 2,400 office workers will be gone by 2020, almost 12,000 have already left. Compared to 2021, when 40,000 skilled professionals left the country, 92,836 did so in 2022. The bulk of them were in the 25 to 44 age range. Sunday observer, Fazlulhaq, N. (2023)                         

                                                                                 

                Source: South Asia Monitor(2023)

Moreover, to successfully balance work and personal obligations, healthy and supportive work environments must be created and maintained. Employee loyalty and output will both rise as a result. Today's workers are juggling a number of responsibilities, including work, child rearing, home maintenance, volunteering, caring for a spouse, and caring for elderly parents, to name a few. The topic of work-life balance is significant because it affects people, their businesses, and their communities. Aging populations, record-low unemployment rates, and globalization have only worsened matters (Dhas & Karthikeyan, 2015). The ideal integration of work and life involves no conflicts, according to Muthukumar et al. (2014). The objective of Hayman's 2005 study was to analyze the applicability of a tool created to gauge employees' work-life balance in an administrative work environment. 

As a result, work pressure will be passed to remain employees and it creates more stressful situations in organizations and directly effect family lives. The strain of adapting to new colleagues and responsibilities increases the risk of burnout, making it challenging to disconnect from work during personal time. Ultimately, high staff turnover disrupts the ability to maintain a consistent and harmonious balance between work and personal life. 

        2.) How to balance work and life with Current Challenges?  "Way Forward in Sri Lanka"

What will be the relevance of work vs. non-work in such a context? The traditional concept of “work-life balance” is widely defined as “achieving satisfying experiences in all life domains.” It is also described as being “about adjusting working patterns regardless of age, race or gender, (so) everyone can find a rhythm to help them combine work with their other responsibilities or aspirations.” Here, the concept is based on the notion that paid work and personal life should be seen less as competing priorities than as complementary elements of a full life.  DailtFT, Dharmasiri, A (2022)

The significance of work-life balance is, however, becoming more widely recognized in Sri Lanka. People and organizations alike are starting to understand how a harmonious balance may boost output, improve mental health, and raise employee engagement. Initiatives to improve mental health, flexible work schedules, and mindfulness exercises are all gaining ground.  The goal of work-life balance techniques is to lessen conflict between work and personal life and improve employees' performance in both paid and voluntary employment. They comprise purposeful adjustments to corporate culture or policy. A major paradigm shift that is still very much "in process" is the move from considering work-life balance solutions as a way to accommodate specific employees with caregiving responsibilities to appreciating their contribution to organizational performance and employee engagement. Lazar et al. (2010)

        2.1) Open discussions:

The difficulties of work-life balance and financial demands are essential in managing this environment. It's crucial that people ask for help from their families and workplaces, and that businesses put rules in place that enable a better balance between work and personal life.

        2.2) Adapt Hybrid working: 

Due to the COVID-19 epidemic, hybrid work models that include remote work and office presence have changed the traditional workplace across the globe. This allows for a more flexible work-life balance in every workplace, businesses that embrace hybrid work can profit in a variety of ways, taking advantage of remote work's potential to boost productivity and innovation. A shorter commuting time leads to greater focus and personal responsibility management, promoting work-life balance. This strategy encourages diversity, caters to various requirements, raises morale, and eventually improves job satisfaction and retention rates. 

In Sri Lanka, despite Technological limitations, the concept of hybrid working holds promise for companies aiming to improve employee work-life balance. While challenges exist, the potential benefits justify its pursuit. Even with restricted technology, introducing hybrid work for a specific employee group can yield positive results. This approach allows remote work on select days or tasks, acknowledging personal responsibilities and offering better management. While full adoption might be hindered by technology, a partial implementation showcases the organization's commitment to employee well-being. Reduced commuting, enhanced focus, and lowered stress can benefit those in hybrid roles. Moreover, this initiative can catalyze a cultural shift and pave the way for future technological advancements. As a foundation, hybrid working, despite limitations, can propel organizations toward a healthier and more harmonious work environment.

        2.3) Understanding: 

Businesses are feeling the heat as a result of competition to surpass one another or keep their commitments to clients in order to survive the current wave of globalization and employee and employer understanding is much more important to support each other. Employers should understand employees better, acknowledging personal struggles, neglect of personal life, non-work activities, and mood at work.

         2.4) Supportive Policies: 

Offering flexible work schedules, business leave policies, training, career development, condensed work weeks, and effective workload management contributes to work-life balance.

        2.5) Training Programs: 

Focus on expanding training, professional development, and workload management options. Educate employees about work-life balance's impact on personal and professional lives.

        2.6) Creative and Innovative with your own ideas and be an Entrepreneur:

The goal of the television series "Sri Lankan Community" is to celebrate our nation's remarkable entrepreneurs, to show off their richness of skill, and to demonstrate the sheer will and tenacity of our people. Most SMEs that have been contacted say that their problems are comparable. They experience difficulties with both market and financial access. To get through these challenges, they require direction and assistance. By telling their captivating tales, the community in this column "Your Community" tackles the need to raise awareness and foster connections with potential clients. Continuous capacity-building programs are run by WCIC and its numerous partners to educate SMEs on all facets of business growth. Your Community showcases successful female businesses. Daily Mirror, David, A (2023)

Example: Sri Lankan Enterpreneur - "Elixir Ceylon" 

"Elixir Ceylon is my newest venture which commenced in 2021 mentioned to Daily Mirror News Paper by Hadunhetti, N (2023) Elixir Ceylon manufactures and sells coconut-based outputs under the pillars of personal care, food, handicraft, and gift packages. For generations, Sri Lankans have preferred imported products against local substitutes perhaps due to the quality and variation, colourful presentation despite the higher price tag. Elixir Ceylon, pledges to drive a quantum shift in consumer attitude as it seeks to expand its reach in the local market prior to testing foreign markets. Elixir Ceylon products are created off the coconuts grown on Sri Lankan soil. 

She also mentioned the challenge of accessing funding for business entry was overwhelming, as many doubted one's ability to balance work, family, and performance. Despite the lack of capital, the individual chose to open a shop fearlessly, realizing that cash flow and funding are crucial for success. Research shows that 50% of start-ups close in the first three years due to a lack of financial knowledge. To achieve success, build an authentic personal brand, maintain a positive attitude, and capitalize on opportunities to enhance one's net worth. 

This is one of the very good examples of showing a Positive mind, being open, and creative, and having innovative ideas support to uplift life challenges and the ultimate goal is happy work and life.

All the above evidence shows that effective people management, including flexible schedules, improves work-life balance. Programs promoting balance positively affect various aspects like recruitment, turnover, commitment, satisfaction, productivity, and safety. Self-management is vital, where individuals take responsibility for actions and expectations to achieve a healthy work-life balance. 

Conclusion: 

Recent economic troubles in Sri Lanka have made it difficult for its citizens to maintain a healthy work-life balance. The delicate balance between work and family life has surely been impacted as a result of economic instability, which has led to job uncertainty, decreased income, and increased stress levels. It's important to recognize that the impact of these effects might vary depending on a person's situation, the industry, and the availability of support networks. The labor market has undergone a massive transformation as a result of the economic crisis, introducing novel work practices such as roster systems, flexible hours, and remote employment. Employees have been forced to adjust to new work settings as a result of these adjustments. To succeed in this shifting environment, new strategies are needed. Because work-life balance is dynamic, specific techniques that consider elements like changing life phases and parental duties are needed. As circumstances change over time, finding a balance between work and family becomes more crucial. Success will ultimately result from the pursuit of this equilibrium. In Sri Lanka, juggling work and personal obligations is still challenging due to cultural conventions and financial limitations. It is crucial to understand that both individuals and organizations must work together as people are seeking a balance between their responsibilities at home and at work. 

Furthermore, a more harmonic balance can be achieved by encouraging open communication, supporting adaptable work arrangements, and placing a high priority on mental health. Furthermore, It's important to stay attuned to the latest developments in Sri Lanka and their implications for work-life balance. As the nation navigates these complexities, the potential for an improved standard of living for its citizens lies in achieving a sustainable equilibrium between work and personal life.

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