The finance and insurance industry offers the best work-life balance

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Since March 2020, the boundaries between work and our personal time have blurred like never before. While the work-from-home policies made popular by the pandemic have given employees more freedom over their work schedules than ever before, it’s also made it much harder for some people to truly switch off and achieve a true work-life balance .

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A persistently poor work-life balance can have lasting damage to a company’s culture, leading to low levels of job satisfaction, high absenteeism, reduced work quality, and high employee turnover.

To find out which industries offer the best work-life balance, Remote analyzed 22 different industries, creating a comprehensive ranking based on overtime and overtime rates, annual incentive pay, amount of hours worked each week and employee turnover rates.

Top Five Best Industries for a Healthy Work-Life Balance

Rank Industry Average salary Annual incentive pay Weekly pay (basic) Weekly pay (overtime) Weekly paid hours (core) Weekly paid hours (overtime) Employee turnover
1 Financial and insurance activities £62,244.00 £11,843.00 £985.20 £5.90 33.9 0.4 25%
2 Information and communication £47,556.00 £3,734.00 £870.40 £5.20 35.7 0.3 44%
3 Supply of electricity, gas, steam and air conditioning £45,541.00 £1680.00 £854.40 £41.50 36.1 1.3 67%
4 Mining and quarrying £43,066.00 £808.20 £53.80 39.8 3.1 54%
5 Real estate activities £33,355.00 £608.00 £5.70 33.2 0.3 49%

Some key findings from Remote’s research include:

  • The financial and insurance industry offers the best work-life balance, followed by the information and communication industry and the electricity, gas, steam and air conditioning supply industry.
  • The financial and insurance industry also offers the lowest employee turnover at 25%.
  • Mining and quarry workers spend the most hours at work each week, with almost 40 core paid hours and about 3 hours of paid overtime on top of that.

To view the full study, please visit: https://remote.com/blog/industries-best-life-work-balance

The finance and insurance industry offers the best work-life balance

Remote’s analysis reveals that the industry that offers its employees the best work-life balance is the financial and insurance sector. Compared to the other sectors analysed, this industry has the highest average salary at £62,244 and the best annual incentive pay at £11,843.

Employees working in finance and insurance also have the highest basic weekly pay at £985.20, working just under 34 hours each week to earn this. Offering finance and insurance professionals such an excellent work-life balance may be why this sector has the lowest employee turnover rate of any industry covered by Remote, at 25%.

Other leading industries for work-life balance include information and communication and electricity, gas, steam and air conditioning supplies

Paying an average salary of £47,556, the information and communications industry offers the second best work-life balance according to Remote’s analysis.

While basic pay levels are relatively high in this industry, overtime pay is relatively low at £5.20 per hour and the employee turnover rate is not as favorable as in the financial and insurance sector at 44%.

The third best industry for work-life balance is electricity, gas, steam and air conditioning supply.

The average annual salary in electricity, gas, steam and air conditioning supply is £45,541, around £2,000 less than the information and communications industry offers. However, workers in this industry receive a much higher rate of overtime pay at £41.50, the financial and insurance industry and the information and communication industry offer just £5.90 and £5.20 respectively.

However, employee turnover in this sector is 67%, the highest of the top five industries – the slightly higher working week of 36.1 hours may contribute to this.

Top Five Best Industries for a Healthy Work-Life Balance

Rank Industry Average salary Annual incentive pay Weekly pay (basic) Weekly pay (overtime) Weekly paid hours (core) Weekly paid hours (overtime) Employee turnover
1 Financial and insurance activities £62,244.00 £11,843.00 £985.20 £5.90 33.9 0.4 25%
2 Information and communication £47,556.00 £3,734.00 £870.40 £5.20 35.7 0.3 44%
3 Supply of electricity, gas, steam and air conditioning £45,541.00 £1680.00 £854.40 £41.50 36.1 1.3 67%
4 Mining and quarrying £43,066.00 £808.20 £53.80 39.8 3.1 54%
5 Real estate activities £33,355.00 £608.00 £5.70 33.2 0.3 49%

Remote’s Senior People Specialist, Keah Nguyen advises employees to help their employees set clear boundaries between work and personal time. Nguyen says, “Remote encourages its employees to have no work apps on their phones and to master the art of working asynchronously. By moving to asynchronous workflows, team members can work at the times that work best for them — not the times they’d rather be doing something else.


About the remote:

Remote the mission is to unlock the world’s enormous potential for every person, business and country. We envision a world where every person and business truly belongs in the global marketplace.

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