Work-life balance refers to properly prioritizing work and lifestyle to allocate limited personal resources like time and energy. The document discusses common myths around work-life balance and provides solutions and benefits corporations and HR can provide to promote better balance. It explains that balance does not mean equal split but aligning how one allocates resources with personal goals. Competition, long hours, and globalization often cause imbalance, but setting boundaries, flexibility, and time off can help. Finding balance leads to greater productivity, health, and fulfillment at work and in relationships.