‘Work-life balance’ is a modish term born of a soft economy. When money and jobs are relatively easy to come by, professionals look for the additional benefits that will persuade them not to seek a cushier number elsewhere.

Too cynical? Almost certainly. Yet we wonder how well this seemingly indispensable human resources imperative is going to endure in a much harsher economic climate. As we report this week (p12), flexible working policies have proliferated in the benign environment of the last ten years. Yet take-up in the law has remained stubbornly low.

Of course, there is always a time lag between policy and reality. Perhaps the trend toward flexible working will continue to move inexorably upward. Helping staff achieve an equilibrium between home and career fosters loyalty ­– and loyalty equals retention.

What jars here, however, is the fact that no one under 35 has ever worked through a steep economic downturn. An entire generation has come to believe that it can ‘have it all’, enjoying bespoke careers which allow people to get the job done on their own terms.

Many employers, though of course not all, have bent over backwards to accommodate these aspirations while talent has remained scarce. But will they continue to do so when it isn’t?