Step 1: Concept Definition:
Quality of Work Life (QWL) is a management philosophy aimed at improving the work environment for mutual benefit of employees and the organization. It represents a humanistic management perspective.
Step 2: Explanatory Details:
The QWL approach reframes employees from being a cost or production factor to a valuable resource. It prioritizes employee satisfaction, involvement, development, and well-being, recognizing their contribution to organizational success and value.
Liability, Debts, Burden: These terms denote costs or problems, opposing the QWL philosophy.
Assets: An asset is a valuable entity. Viewing employees as assets signifies acknowledging their worth, potential, and contribution to organizational achievement, aligning directly with QWL principles.
Step 3: Conclusive Statement:
The QWL approach regards employees as valuable Assets within the organization.