ASSESSING THE IMPACT OF WORKLIFE BALANCE ON EMPLOYEE PRODUCTIVITY-A CASE STUDY OF FIRST BANK OF NIGERIA PLC, LAGOS

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ASSESSING THE IMPACT OF WORKLIFE BALANCE ON EMPLOYEE PRODUCTIVITY-A CASE STUDY OF FIRST BANK OF NIGERIA PLC, LAGOS

Abstract:

This study examines the impact of work-life balance on employee productivity, focusing on the case of First Bank of Nigeria Plc, Lagos. In the dynamic and competitive business environment, organizations increasingly recognize the significance of fostering a healthy work-life balance to enhance the well-being of employees and, consequently, improve overall productivity. This research employs a mixed-methods approach, combining surveys and interviews to assess the perceptions and experiences of employees regarding work-life balance practices within the banking sector. Through an in-depth analysis of policies, organizational culture, and individual perspectives, the study aims to provide insights into the relationship between work-life balance initiatives and employee productivity. The findings are anticipated to contribute to the existing body of knowledge, offering practical recommendations for organizations, particularly within the Nigerian banking industry, to optimize work-life balance strategies and promote a conducive environment for enhanced employee performance.

CHAPTER ONE:

INTRODUCTION

1.1 Background of the Study

The contemporary work environment is characterized by dynamic shifts in organizational structures, technological advancements, and evolving societal expectations. One of the key challenges faced by employees in this dynamic landscape is achieving a harmonious balance between work and personal life. Work-life balance (WLB) is a concept that has gained increasing importance as organizations recognize its potential impact on employee well-being, job satisfaction, and overall productivity. This study focuses on assessing the impact of work-life balance on employee productivity, with a case study conducted at First Bank of Nigeria PLC in Lagos.

Today, work-life balance has become an increasingly pervasive concern to both employers and employees of most organisations. In recent time, there has been an upsurge in the consideration of the pressures that work has on family as well as life of employees. This has triggered research bordering on work-life. In an environment where there is high level of competitive pressures stemming largely from efforts to deliver quality service, the weight of this on employees are enormous Uzoechi and Babatunde, (2012).

Work-life balance (WLB) which primarily deals with an employee’s ability to properly prioritize between work and his or her lifestyle, social life, health, family and so on. Work is generally considered as a part of life. Though separated by certain physical, psychological and temporal boundaries, the two concepts are operationalized within the same context of time and space. The nature of work itself has changed from the 9-to-5 affair to a 24-hour, 7-day society, where customers expect services at times that suit them CIPD, 2007 as cited in Adetayo, Olaoye and Awolaja, (2011). Where there is proper balance between work and life, employees tend to put in their best efforts at work, because their family is happy.

Most research studies have shown that when there are happy homes, work places automatically become conflict free and enjoyable places to be. Increasing attrition rates and increasing demand for work-life balance have forced organisations to look beyond run of the mill Human Resources interventions. As a result, initiatives such as flexible working hours, alternative work arrangements, leave policies and benefits in lieu of family care responsibilities and employee assistance programmes have become a significant part of most of the company benefit programmes and compensation packages.

The origins of research on work-life balance can be traced back to studies of women having multiple roles. Barnett and Baruch, (1985) investigated the psychological distress connected to the balance of rewards and concerns generated by individual women’s multiple roles as paid worker, wife and mother. They found that positive role and experience was related to low levels of role overload, role conflict and anxiety.

The importance of work-family balance, whether implicit or explicit, to the organisations and employees cannot be ignored. This is because when employees struggle to balance their work and family lives, their families and work will be negatively affected Gryzwacz and Carlson, (2007). The most common approach is to view work-life balance practices through a business case lens: that is, by offering these practices, organizations attract new members and reduce levels of work-life conflict among existing ones, and this improved recruitment and reduced work life conflict enhance organizational effectiveness. A review of the literature, however, questions this purported link between work-life balance practices and organizational effectiveness. The mechanisms by which the provision of work- life practices affects both employee behaviour and employee productivity remain unclear, and under-researched Allen, 2001; Schutte & Eaton, (2004). It is on this premise that the study will be conducted in other to find out how Nigerian workers are being affected when it comes to the issue or concept of work-life balance.

This study examines the literature to identify the various ways in which organizational work- life practices may influence employee productivity. Using a wide range of studies from a variety of disciplines, the empirical support available for the link between work-life practices and employee productivity at both the individual and organization level will be detailed. Findings from literature will provides us with important new insights regarding potential moderators and mediators of the link between work-life practices and employee productivity,

and suggests new research questions that may further enhance our understanding of how (or if) this link operates.

1.2 Statement of the Problem

Despite the growing awareness of the importance of work-life balance, there is a need for empirical research that specifically investigates its impact on employee productivity within the Nigerian context, and particularly within the banking sector. Understanding the challenges and opportunities associated with achieving work-life balance at First Bank of Nigeria PLC in Lagos can provide insights into potential areas for improvement, leading to enhanced employee well-being and organizational effectiveness.

1.2 Significance of the Study

The significance of work-life balance in contemporary organizational contexts cannot be overstated. Employees facing challenges in balancing their professional and personal lives may experience burnout, decreased job satisfaction, and diminished overall well-being. These factors, in turn, have the potential to impact productivity levels and contribute to high turnover rates. Recognizing the complex interplay between work-life balance and productivity is crucial for organizations seeking to create a conducive work environment that fosters both employee satisfaction and organizational success.

1.4 Objectives of the Study

The primary objectives of this study are:

To examine the current work-life balance practices at First Bank of Nigeria PLC in Lagos.

To assess the perceived impact of work-life balance on employee productivity.

To identify factors that may influence work-life balance within the banking sector.

To propose recommendations for improving work-life balance practices at First Bank of Nigeria PLC.

1.5 Research Questions

The study will address the following research questions:

What are the existing work-life balance practices at First Bank of Nigeria PLC in Lagos?

How do employees perceive the impact of work-life balance on their productivity?

What factors contribute to work-life balance challenges within the banking sector?

What recommendations can be proposed to enhance work-life balance practices at First Bank of Nigeria PLC?

1.6 Significance of the Study

This study holds significance for multiple stakeholders. For First Bank of Nigeria PLC, the findings can provide valuable insights into the effectiveness of existing work-life balance initiatives and inform strategies for fostering a healthier work environment. Additionally, the study contributes to the broader academic and professional discourse on the relationship between work-life balance and employee productivity, particularly within the banking sector in Nigeria.

1.7 Scope of the Study

The study will focus on employees of First Bank of Nigeria PLC in Lagos. Both quantitative and qualitative data will be collected to gain a comprehensive understanding of work-life balance practices and their impact on employee productivity. The scope encompasses various aspects, including work hours, flexible scheduling, employee well-being programs, and organizational culture.

1.8 RESEARCH HYPOTHESIS

Accordingly, following are the hypothesis to be tested for this study:

i. H01: Job stress has no effect on employee health.

ii. H02: Role overload does not affect employee job satisfaction.

iii. H03: Long working hours does not influence employee morale.

iv. H04: Work family conflict does not affect job commitment.

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