In a time when the global economy is uncertain and inflation has led the cost of goods to rise yearly, maintaining work-life balance has been put on the back burner.
Many would rather work holidays and get paid extra instead of taking the day off and spending time with loved ones.
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Although having enough money to keep a roof over our heads and have food on our plates is essential, missing out on important moments in life and creating memories can lead many to regret their lifestyle choices in the long run.
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The U.S. may be a first-world country due to its advanced economy and hard work ethic, but it’s also among the countries with the worst work-life balance.
A major retail chain reduces work hours.
Image source: VIEWpress/Getty Images
A major retail chain reduces work hours to foster work-life balance
Major American retail chains have made huge strides in their work environments, allowing employees more time off. Target (TGT) , Lowe’s (LOW) , and Costco (COST) are among the companies that usually close during major holidays.
However, many are still unwilling to sacrifice sales by reducing work hours to allow employees to enjoy their lives. Still, a major European retailer has chosen to go against the trend.
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After months of negotiations with the Confederación Sindical Independiente Fetico, a labor union in Spain, IKEA announced it will reduce and adjust its store opening hours in Spain on Sundays, during public holidays, and in the winter.
This decision aims to improve the work-life balance of IKEA’s workforce.
During the winter working months of October 1 to April 30, all stores in Spain will close at 9 p.m. Depending on the day and location, they will be open from 10 a.m. to 7 p.m. or 11 a.m. to 8 p.m. on Sundays and public holidays.
However, on Christmas Eve and New Year’s Eve, all stores will close at 3 p.m. and remain closed until 6 p.m. on January 5.
Will American retailers ever prioritize work-life balance?
Maternity leave, sick days, mental health breaks, and paid time off are huge factors in a person’s work-life balance, and companies should offer such perks to their employees to keep them happy. However, many don’t.
Europe has established laws that enforce these basic needs, including the Work-Life Balance Directive, which aims to make the lives of people in the European Union easier by allowing them to balance reasonably paid work with their personal lives.
The European region has the best work-life balance worldwide, with most countries among the top 10. Unfortunately, the U.S. is nowhere near the top 10 countries, according to Remote’s Global Life-Work Balance Index for 2024.
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Unlike Europe, the U.S. has no official laws or policies that enforce work-life balance. However, acts — including the Fair Labor Standards Act, the Family and Medical Leave Act, and the Americans with Disabilities Act — do aim to address those issues.
Although IKEA and other major retailers have not discounted the possibility of reducing work hours in the U.S., it’s improbable that it will be next on their list.
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