Work-life balance damaged by recession

Some ten million people have seen their work-life balance suffer as a result of trying to make ends meet throughout the recession, it has been revealed.

A new Balancing Act report commissioned by the Cornwall Development Company found that one in three people, the equivalent of 30 million workers, are spending more time at work since the start of the downturn, many in a bid to fend off the need to look for payday loans.

Some 29 per cent of those working longer hours blame additional responsibilities for the change, 21 per cent claim it is caused by understaffing and 18 per cent are working harder to pay for the rising cost of living.

"During tough economic times, organisations may think of work-life balance as a luxury they can do without. This is a short-sighted perspective; maintaining a motivated and productive workforce is more important than ever in an economic downturn," said Dr Alexandra Beauregard, a lecturer in employment relations and organisational behaviour at the London School of Economics.

Justin Modray of candidmoney.com said that in the current climate it is important to pay off debts before saving money.

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2011-08-03 17:01:01 © Moneyextra.com