Some of the frequently used buzz words in the corporate sector include green leadership, green human resource management, green employee engagement and green work-life balance. The intention of this article is to identify and examine the logical reasons that govern “green work-life balance” or, in simple terms, “greenwashing” work-life balance. The paper also aims at providing a comprehensive conceptualization of work-life balance, while thoroughly examining the components of measuring the construct. Based on a cross-sectional study in the banking industry with a sample of 170 managerial employees, this study analyzes the impact of work-life balance on employee job performance mediated by employee engagement. Results support the assumed relationship between work-life balance and employee job performance embedded in employee engagement. The theoretical contribution of this study concerns the application of role behavior theory to describe the mechanisms shaping the relationship between work-life balance and job performance through employee engagement. The practical implications of the paper include recommendations for improving job performance by enhancing the work-life balance and strengthening employee engagement.