With the occasion of the International Women’s Day, we asked Kusum Prabhakar, RedCompass Labs Associate Partner, to explore a topic which is crucial for the financial industry and it’s close to us as a company: work-life balance and flexibility in the workplace.
What is work-life balance and how can we achieve it?
At the EWPN London meetup, early in February, I heard something that has rung in my ears ever since: “it’s not work-life balance we should be striving for but life-balance… period”.
The beauty of being the individuals we are, is that WE get to work on what that balance tastes like for each of us. There is no right or wrong answer, and even that answer, over time will most definitely change. You are the person that orchestrates all the important areas of your life to play in unison, leverage your strengths and be at the right place at the right time for you!
Life-balance doesn’t happen overnight. It’s rather the result of a careful considered conversation that you will have with yourself several times, before you work out what matters to you, and to those around you.
The colour of success is a palette that each of us builds individually. What you may need for your mental wellbeing, for your voice to be heard, for you to feel valued, to lead, to mentor, for you to have the time to be that best friend, that reliable child, that loving parent, that invested partner, to look after you, is highly unlikely to be the same as the person you stand squashed next to on the train every day.
At this point you’ve probably just gone: “hang on, it’s not that easy!” and that’s often been my response too. But that was when I was thinking about work and life as separate entities versus simply chapters in a book that remain fluid and connected until that story ends.
Life-balance is about priorities and open conversation
I have been very lucky to work for a company where at the very highest level there is a recognition that life is happening for all of us all the time. There is no pause.
Growth and change are constant, in yourself, in your families, in your friends, in your demands and needs, and these finite capsules of time need to be carved in so many ways. If growth and change are constant, then so must be the review of how you can succeed.
Priorities are personal. You choose when. But life balance isn’t about the nirvana of having it all. Let’s not pretend or shy away from how mammoth that ask is; let alone the pressure we put upon ourselves to get there, or that it probably needs an army of support (and very deep pockets!) to attain the so called equilibrium. Success in life balance is about allowing every individual to experience, consume and thrive on ALL levels. It takes time for you to work that out. But there is no better time for businesses to understand how vital (and un-gendered) this is.
At RedCompass Labs we recognise that this journey is unique for each of us. There is no gender bias in that sentence. In fact, the power lies in the ask of what the individual needs to succeed. A woman’s needs hold no greater gravity than that of a man. It’s an open dialogue that often starts with “in order for me to be the best version of me, I’d like to talk about changing x, y, z…”. Sometimes that’s the hours, the role, the location of where work is being done, or the forms and fluidity of communication being used (can I remain impactful and present whilst in transit?). Sometimes it’s the frequency and methods in which meetings are held (what does inclusivity really look like without being in the room?), the team dynamics or indeed a hybrid of these. To allow for these changes to happen, however, companies need to be prepared and invest in the right tools and systems. That’s where technology can empower us.
Employees’ successful life balance makes companies stronger
The advances of modern technology have opened the flood gates to flexibility and transparency in the workplace and many organisations are now moving away from the regimental nine to five office life (plus 3 or 4 hours before you get home) that so many of us have started in. Organisations’ survival in such a competitive market is absolutely coupled with understanding how talented individuals flourish, where and how they work best and that includes looking at working hours, environments and innovative working practises. Something we have poured our relentless effort into.
In the last 18 months, RedCompass Labs moved its IT budget from £40k to £400k to use tools to bridge the gaps between life and work, and between what the team needs and what the individual needs. This investment for us has reaped significant rewards, allowing seamless working from home and further allowing the work force to remain connected across regional offices, working harmoniously as if all drawing on the same page all in the same room. Debate and solutions occur in a more dynamic way when the ‘where you are’ becomes irrelevant.
Flexibility and Connectivity
Technology is clearly changing our lives. When it comes to life balance, though, it can be both the cure and the cause of the unbalances that will make us stressed and ultimately unhappy. Being connected does not mean having to be on it all the time, which is what connectivity at your fingertips can often feel like. FOMO is not just a social acronym! Flexibility and the advance in access on the go does not mean being contactable and/or available at all hours. Just because the boss is online at 11pm, doesn’t mean you have to be!
Finding the balance is about demonstrating accountability and commitment while allowing yourself to navigate the neural pathways constantly firing at you with conflicting spaces that you should satisfy at any moment in time. So, here’s what you should do. Breath. Prioritise. Dedicate. Allocate your time and be honest with where your boundaries are.
Because we see ourselves as a working family, there is no dissociation between who we try to make balance happen for. It’s recognised, it’s understood, it’s works in progress. Retaining, inspiring and nurturing Talent through Leadership is about understanding and distinguishing the negotiable from the non-negotiable to keep individuals energized and focused. Whether that is shared paternity or changed working hours for a father to pick up a daughter or to fly back home - where home is in another country. Whether that is Monday night cinema, or being able to sail a boat, train for a marathon, or get to live by the sea. We recognise our team’s unquestionable passion and drive to be the ultimate work champion. Finding that balance matters because they matter. #EachforEqual.