In this economy especially it is easy to get wrapped up in what's going on at work and get totally focused on your job. That may be good for your career, but it may not help the other parts of your life. It is very important for managers to maintain a balance between work and the rest of their lives (and make sure their people do the same).
The article Employee Benefits as a Management Tool
begins with a quote from Brian G. Dyson, former President and CEO of Coca-Cola Enterprises titled "Glass Balls and Rubber Balls". I encourage you to read it.
For another perspective, read Work Life Balance: Tips and Techniques