Year : 2007, Volume : 7, Issue : 1
First page : ( 20) Last page : ( 36)
Print ISSN : 2231-0649. Online ISSN : 2231-0657. Published online : 2007  1.

Strategising Talent Retention Through Work Life Balance

Swain Dindayal Prof.*, Sahu Suprava Ms.**

*Institute of Management and Information Science, Bhubaneswar, Orissa

**Senior Research Fellow in the P.G. Department of Commerce, Utkal University, Bhubaneswar, Orissa

Gone are the days when employers could guarantee their employees job security for life in exchange for their unwavering commitment and loyalty. For years, finding a balance between work and life was considered an individual issue, not a business issue. Tlie work-life balance debate has arisen through social and economic changes, such as greater numbers of women in the workforce and the expectations of the younger Generation X and Y together with a growing reluctance to accept the long-hours culture, the rise of the 24/7 socieh/and technological advancements, A major driver of the trend towards achieving work-life balance is the fact that younger people are not prepared to work in the same way as their parents, wanting greater control, and a bigger say in the structure of their jobs and what they could potentially offer in the future. People are the key competitive differentiator in today's knowledge based business. Companies today require a better-educated talent pool, and tlie pool fast dn/ing up. With organizations willing to attract talent with whatever it takes, a key challenge for them is to retain their precious talent. High attrition levels push up the cost of rehiring and result in loss of organizational knowledge and skill, impacting the company‘s’ ability to compete in the market. Hence for organizations, managing the talent crisis is becoming a strategic focus. This paper is an honest endeavor to analyze the issues and problems associated with retaining talent by maintaining work life balance.

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