Work-Life Balance and the Individuals’ Labour Supply

Abstract

Theoretical background: In the turbulent conditions of today’s world, individuals seek stability and harmony, making the problem of work-life balance particularly vital. The issue of work-life balance is at the intersection of economic behaviour and the emotional state of the individual. Each component of the work-life system is fundamentally important for individuals, but the desire for a high level of consumption and ensuring financial security may push them to skew the balance in favour of work. However, a higher level of wages could provide sufficient levels of consumption for individuals and return to the desired work-life balance through the choice of free time for non-work activities. Purpose of the article: The purpose of this article is to investigate the labour supply of individuals that seek to maintain a life-work balance. Research methods: A model was constructed and analyzed in order to find the optimal labor supply of an individual, taking into account time free from work. As part of the study, a survey was also conducted among 200 individuals in Poland in 2024, which revealed some personal and psychological aspects regarding work-life balance among the respondents. Main findings: The analysis of the constructed model, as well as the survey conducted among individuals, proves that the higher the wage level, the more individuals are willing to supply their labour. With the need to maintain individuals’ work-life balance, the motivational function of wages remains crucial. The results also show that individuals with alternative sources of income have more opportunities to maintain a work-life balance.