Group Members

Girish Gopi 8044 Jacqueline Gonsalves 8042 Marilyn Gonsalves 8043

Introduction
It

is very difficult to maintain balance between the personal life and the work life of people. The women employees suffer more than the men employees. They need to look after their family members and at the same time they need to carry out their work properly

 When

the employee is under stress it affects the work The family problems leads to tension which may lead to misbehavior and conflict among the employees. Many companies are providing flexible work time to solve this problem and to enhance the quality of their work

Examples
Federal Technologies

is a leading player in the software development industry with more than 800 people across the nation. They introduced a new concept of FWO Bajaj Auto also provides its employee the facility of telecommunication, which helps to balance between personal life and work life.

 HP India

introduced a new concept of working part-time after maternity which helps the women employees to take care of their children Some other FWO are part time jobs, job sharing, partial retirement scheme, reduced work life, leave option etc.

SWOT Analysis
Strengths Employee satisfaction Increased morale Makes employees more committed towards work. Low employee turn over Less absenteeism.

Good coordination and smooth transfer of work. Good atmosphere Achievement of organizational goal Retention of talented employees

Weakness
Chance

of conflict among

workers Difficulty in decentralization Salary sharing Non corporation Difficulty in introduction of motivational technique

Opportunity
Increased

profit Better image to the concern

Case Study
Company: First Tennessee Bank (FTB)
Profile: A Financial

services company, FTB is based in Memphis, Tennessee, and has approximately 8,000 employees. The company has 259 banking sites in Tennessee, Mississippi, and Arkansas and 150 mortgage banking offices in 28 states

 Challenge:

Costs & customer complaints associated with employee turnover

Solution:

Implementation of flexible work schedules & part-time work options with benefits

Policy Parameters

FTB removed company-wide written attendance policies and shifted responsibility for decisions about attendance and scheduling to employees & managers in individual branches Part-time work options were created for employees

Parameters

FTB created a task force called the Parenting Task Force that identified problems in work schedules and attendance policies for employees

Training from the HR department to all the managers to face work-life challenges

Developments

5 years after the policy changes, more than 60% of employees used flexibility options & the bank reported saving over $3 million in turnover costs Customer retention at FTB was 96% while the industry average was 87%

Developments

The accounts-reconcilement department shortened the amount of time it takes to reconcile accounts from 8 days to 4 days resulting in a 50% leap in customer response Part-time work option initiative saved 85% turnover of people who would have otherwise left the bank

Conclusion
By providing FWO the employees can balanced their work life and personnel life, which help them to reduce their stress and it makes them more productive which helps the organization to achieve their goal