I often see leaders tempted to prioritize growth and profit above all else. The pressure to meet quarterly targets, increase shareholder value and stay ahead of the competition can lead to a singular focus on the bottom line.
However, neglecting people-centric values such as compassion, discipline and empathy can have severe consequences and risk creating a toxic work environment characterized by chronic stress, lack of work-life balance and unrealistic expectations.
For instance, a recent tragic death occurred in one of the Big Four accounting firms' as a result of what her family described as work-related stress. While this may be an extreme example, the "State of Work-life Balance in India" report by the International Labour Organization (ILO) in 2020 indicated that 44% of Indian employees struggle to maintain a healthy work-life balance, defining what I see as the failing standards of the work-life balance in the country and elsewhere.
Based on the experiences I have had as a leader, founder and CEO, I have come up with various methods that can help maintain a healthy work environment—even when you are a startup with a small team donning various hats and juggling multiple projects.
Work-Life Balance
I’ve had two of my team members become new parents. Even in a fully remote setup, the challenge of balancing work with the joys and demands of parenthood is real. To support them, we established firm boundaries—no calls or work interruptions outside of set hours unless it’s critical.
This simple change has been a huge win, allowing them to fully enjoy this special time without added stress, and I believe that’s one of the most rewarding achievements for any founder. Overall, here are some strategies for helping to create a better work-life balance for your employees:
Flexible work arrangements: Offer flexible schedules, telecommuting options or compressed workweeks to help employees balance personal and professional responsibilities.
Clear boundaries: Establish clear expectations and boundaries between work and personal life to prevent burnout and blurred lines.
Time management: Encourage effective time management skills, such as prioritizing tasks, setting realistic goals and taking regular breaks.
Fostering Employee Satisfaction
Work-life balance is not something that we can just talk about and achieve. Leaders need to take responsibility and work toward it. Maintain a continuous feedback loop to make this change worthwhile. In working toward employee satisfaction, consider the following:
Open communication: Encourage transparent and open communication throughout the organization, including regular feedback, town hall meetings and anonymous suggestion systems.
Recognition and rewards: Acknowledge and reward employees' hard work and contributions through various recognition programs, bonuses or promotions.
Growth opportunities: Provide training, mentorship and opportunities for advancement to help employees grow professionally and personally. While some departments have a clear model of rewarding the employees as per their performance, I believe in teamwork and how everyone has a place in a well-functioning operation; that is why we have a rewards system for the team that is not only in the front end.
Demonstrating Compassion Toward Employees
When one of our key team members faced the loss of a loved one, our priority was simply to be present—offering support in any way we could. I believe this scenario puts the onus on us as leaders to be the inspiration and help make future leaders more compassionate. In demonstrating compassion, I encourage you to consider the following:
Employee feedback: Regularly gather feedback through surveys, focus groups, or one-on-one meetings to address concerns and improve work conditions.
Wellness programs: Offer resources for mental health support, employee assistance programs, fitness initiatives or work-life balance workshops.
Empathy and understanding: Show genuine care and understanding for employees' challenges, acknowledging the impact of work on personal life.
Effectively Managing People-Centric Policies: A Tough Balance
It's essential to recognize the challenges your employees face while also keeping in mind the broader objectives that investors have entrusted you with. Your role is to guide the organization toward achieving these goals while balancing the needs of your employees.
While being compassionate and considerate toward employees, ensure no one is taking an undue advantage. Maintaining discipline is essential to keep everyone focused on both individual and collective goals.