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 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 work-life balance (WLB) policies of employees in insurance and banking sector. Stratified random sampling technique was applied and a sample size of 148 was taken. The reliability statistics used was Cronbach's alpha. Statistical techniques used to analyze the 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 carer's, maternity/paternity, and bereavement etc. as most vital WLB policy. Also there were no formal procedures on work life balance policies. Income, gender and type of organization had statistically significant affect on attitude of employees towards the implementation of these policies.