Majority Willing to Take Pay Cut for Better Work/Life Balance

Do you wish your job offered a better work/life balance? Find out why half of the world’s employed population would take a pay cut in order to prioritize their home lives.

Ford Motor Co. Study Reveals Workers’ Priorities

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Ford Motor Co. surveyed workers across the world to find out more about their priorities, and the results came as a surprise to the organizers of the study. 

Majority Would Take Pay Cut for Balance

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52% of people would take a significant pay cut – up to 20% – in exchange for an improvement in their work/life balance.

The Generational Divide

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American members of Generation Z and millennials were most likely to say they’d take up to a 20% pay cut in order to have a better work/life balance. Baby boomers were least likely, with only 33% of that group answering affirmatively. 

Most Prioritize Balance Over Promotion

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A whopping 77% of all those surveyed said that they think their work/life balance is more important than career growth. 

Poor Work/Life Balance Leads to Stress

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Stress is a recurring theme among people who wish for a better balance between work and home. 

What Work/Life Balance Means to Americans

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The idea of the perfect work/life balance is somewhat vague, though it seems most people just want a reasonable work schedule, livable and fair wage, and restorative time off.

Are Vacations Worth the Hassle?

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Many Americans complain that their vacations don’t feel like true breaks because they’re often asked to handle work tasks during their off time.

Trouble in Paradise

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Others feel that they spend more time at work than home, and their families pay the price. Stress at work often leads to stress at home.

Exploring the Service Industry

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The service industry is one of the worst areas to work in terms of work/life balance. A staggering 94% of  American service workers spend more than 50 hours a week at work, despite 40 hours being considered full-time.

Grueling Hours

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This work tends to be around the clock, with weekend and night hours a normal part of business. 

What Makes a Workaholic?

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Almost half of American workers would call themselves workaholics, many of whom even find themselves working off the clock to stay caught up.

Work/Life Balance Matters in Job Hunts

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While workaholics make up a large portion of the workforce, work/life balance is still a priority. 72% of workers surveyed said they consider work/life balance when making decisions about whether to take a new job.

Facing Burnout at Work

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Burnout is a real concern among American workers, and the more they work, the worse it gets. Burnout can happen when workers are overworked, underappreciated, and underpaid. 

How to Find a Healthy Work/Life Balance

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The best way to achieve a healthy work/life balance is to start by determining what that looks like for you. Do you want to avoid working weekends? Is it important to you to be able to pick your children up from school every day? Do you need to take one mental health day per month?

What Can You Do?

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If you’re one of the 52% of Americans who would be willing to take a pay cut in exchange for a better work/life balance, then consider these tips for balancing your life first so you don’t have to take a financial hit.  

Set Boundaries

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Setting boundaries at home and at work can make things run smoothly at both ends. This may mean making a habit of taking your full lunch break every day, leaving at exactly five o’clock, or not taking work home with you. 

Take Time Off

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If your job offers paid time off as a benefit, use it! Oftentimes, employees leave free money on the table when they refuse to take time off. Use that time to recharge, reconnect, and reset. 

Ask For Help

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Don’t be afraid to ask for help when things get too overwhelming. Whether you need your boss to reassign some of the workload on your plate or your family to step up to help with chores around the house, you can’t do it all, so use the resources you have available.

Make Time for Yourself

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Finding time to do what you love will help your confidence, happiness, and overall well being. Exercise, hobbies, and travel are all great ways to connect with yourself.

Biden’s New 401(k) Rule: Employers Frustrated as Retirement Planning Responsibilities Shift

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The latest Biden administration rule on 401(k) plans is reshaping how employers manage retirement plans. It’s a complex scenario requiring a fresh understanding of fiduciary duties and provider relationships. This rule aims to protect employees but also imposes new responsibilities on employers. Biden’s New 401(k) Rule: Employers Frustrated as Retirement Planning Responsibilities Shift

Elon Musk: New Immigration Bill ‘Enables Illegals to Vote’

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Elon Musk is calling for prosecutions after the text for a new senate bill on immigration was released. Musk accused the new bill of “enabling illegals to vote.” Elon Musk: New Immigration Bill ‘Enables Illegals to Vote’

Colorado Officials Reject Sanctuary City Status, Warn Against ‘Dangerous Game’

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With increasing numbers of migrants arriving in Colorado, public officials have rejected any notion of the state becoming a sanctuary for migrants and asylum seekers. Colorado Officials Reject Sanctuary City Status, Warn Against ‘Dangerous Game’

Disney Challenges DeSantis’ “Don’t Say Gay” Rule With a Hefty Lawsuit

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Disney is set to appeal its refusal for a lawsuit against Ron DeSantis, who stripped the company of its rights for disagreeing with the Governor’s views on the teaching of sexual orientation in classrooms. Disney Challenges DeSantis’ “Don’t Say Gay” Rule With a Hefty Lawsuit

Trump on the Attack as 21 Million Americans Flock to Obamacare, Biden Pushes Forward

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An unprecedented surge in health plan enrollments has reignited former President Donald Trump’s commitment to dismantling the program should he secure the GOP nomination once again. Trump on the Attack as 21 Million Americans Flock to Obamacare, Biden Pushes Forward

The post Majority Willing to Take Pay Cut for Better Work/Life Balance first appeared on From Frugal to Free.

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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.

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