Organizational Work-Life Balance Policies:A Study on Indian Insurance and Banking Sector

For employees in high pressure occupation like insurance and banking industry, discovering the equilibrium between life and work is an off-putting task. The present study tries to look at the awareness, attitude, perceived importance and formalization of the work-life balance (WLB) policies of employees in insurance and banking sector. In this research, stratified random sampling technique was applied and a sample size of 148 was taken; then the reliability statistics such Cronbach's alpha was used. Statistical techniques used to analyze data were descriptive statistics (Mean and Standard Deviation), chi square test, Analysis of Variance (ANOVA) and related procedures thereof like Multiple comparisons (Games-Howell test, Tukey HSD) and Levene Statistics for Test of Homogeneity of Variances. Findings suggest that employees perceive leave policies like maternity/paternity, and bereavement etc. as the most vital WLB policy. Also, the study finds that there were no formal procedures on work life balance policies in institutes. Income, gender and type of organization had statistically significant influence on the attitudes of employees towards implementation of these policies.