Due to major changes and challenges in the way of conducting business in recent decades, establishing work/life balance of employees and managers has become a very important topic. The aim of this paper is to emphasize the obstacles to successfully establishing this balance, the most important of which being the supportive organizational culture and superiors' communication. Another goal of this paper is to introduce the Standards of Excellence Index as a measure for determining the success of the companies' work/life balance programs for employees and managers within 7 components: leadership, strategy, infrastructure, accountability, relationship building, communication, and measurement. In this regard, this paper presents research results on this index in companies in America, where this index was created.

Contemporary companies consider work-life balance a crucial topic. Higher work pressure, longer working hours and more families with both working parents have made balancing work and private life even more difficult. The paper addresses this interrelation and highlights two research questions regarding the type of relationship (positive or negative) that exists between work and private life of employees. These questions are answered based on the analysis of various previously conducted empirical research studies. Findings reveal both negative and positive interrelationship between employees' work and private life. The contributions and conclusions of this paper can be extremely relevant for a company to comprehend how important the creation of work-life balance initiatives is for increasing job satisfaction of its managers and other employees, as well as for developing the reputation of a desirable employer.

The purpose of the paper is presenting the most noticeable trends in establishing work/life balance of managers and other employees worldwide. Due to global changes, establishing work/life balance of employees is considered a strategic topic for human resource management (HRM). The research was conducted through a thorough analysis of various theoretical and empirical studies from the previous period, both domestically and abroad, with the aim of determining the extent to which companies have integrated employees' work/life balance programs into their HRM strategy and daily operations. Introducing training and the use of employees' work/life balance benefits leads to reduced stress and increased productivity, commitment and employee satisfaction. Consequently, this leads to improved company performance-reduced absenteeism and leaving of the company, lower recruiting and training costs, attracting and retaining top quality employees, as well as better company image. This way, employees' work/life balance programs provide benefits for both the employees and the company.

Due to demographic, economic and cultural changes at the global level, the importance of establishing a balance between business and private life of employees has increased. The need to balance life is especially pronounced in sales managers due to high pressure and constantly high levels of stress. The paper will propose various benefits that organizations can offer to contribute to balancing the lives of employees and managers: flexible working hours, part-time work, part-time work, division of labor, work from home, kindergarten for children in the office building and employee assistance programs in coping with stress. The introduction of a work-life balance program can have positive effects on both employee performance (e.g, increasing commitment to the organization) and organizational performance (e.g, attracting and retaining the best employees).