Nearly two thirds (64%) of 389 professionals (64%) agreed: work-life balance is the most important factor for defining overall job satisfaction, ahead of both job security (59%) and compensation (54%), according to a new Washington DC area survey from Eagle Hill Consulting.

Most of all, employees indicated that they will stay (or leave) for their work-life balance. Not only did our DC-area survey respondents list work-life balance as their top consideration, they also identified poor work-life balance as the number one element that would make them leave their current company—also above compensation.

In other words: poor work-life balance leads to attrition. In fact, the Eagle Hill study shows that among millennials (those workers under age 35), 89% of those who reported poor work-life balance also said they were likely to leave their jobs this year! And as we know, there are significant costs associated with attrition and high employee turnover, including lost productivity, organizational knowledge, intellectual capital, as well as the costs of hiring, onboarding, and training a new employee.

"As employees feel strongly about work-life balance, it will positively or negatively impact engagement, productivity, and retention for organizations," said Melissa Jezior, President and CEO of Eagle Hill Consulting.  "As employees feel their contributions, time, and lives are valued, they are more likely to be engaged in their work. And as a result, their productivity will increase—impacting your performance and bottom line."