I would love to never hear this expressions again. Ever.
I'm sure the original intention behind the expression was all good. If nothing else, it encouraged emloyers to view their employees in a wider context and to take into account that they were human beings with more going on in their lives than work. This was undoubtedly a positive step forward.
So, why does it bother me so much? Why do I feel the need to get right up on my high horse every time I hear it? I think that it has now taken on a life of its own and creates as many issues as it addresses.
Someone once said to me, you should always give yourself 3 choices as if you only have 2 you are giving yourself a dilemma. By talking about "work/life balance" you are creating a dichotomy and so giving yourself a dilemma.
The 2 things are put into conflict with each other and it becomes a choice between work or life. Impossible and unrealistic.
Also, it doesn't allow any space for the recognition that for a lot (the majority?) of people work is not simply an economic necessity. For many, work gives us a lot more than money - identity, interactions, social elements and an opportunity for self expression and self actualisation.
I believe it is more helpful instead to talk about "Life Balance" - of which work is one element. This allows for a systems view of life which recognises the impacts that the various elements have on each other. When viewed in this way it is harder to put work into a box and pretend that decisions made there (hours worked, location, behaviours, etc) don't have an impact elsewhere in one's life - for example, in our home lives, or with our families. And vice versa.
So think about your Life Balance - all the elements of your life (work, family, relationships, health, etc) - and achieve real balance.