Here's What You Should Know About the Four-Day Workweek
If the idea of the four-day workweek has been in the back of your mind since it was first proposed years ago, we’ve got some good news for you.
One of the largest studies of the four-day workweek ever conducted recently concluded in the U.K. 61 British businesses in every sector, from banking to fast food, participated in this study. The study required employers to reduce the workweek to four days for 2,900 employees while keeping salaries the same. The goal of this trial was to test if the four-day workweek had a negative effect on productivity. Can workers really accomplish as much in less time?
The answer is a resounding yes, according to a new report. At the conclusion of the study, businesses found that switching over to a four-day workweek did not affect revenue or productivity, but it did have a profound effect on employee satisfaction and well-being.
What are the benefits to employees?
During the height of the COVID-19 pandemic, many workers experienced increases in their stress levels. Workers often reported that they were feeling burned out, meaning they were on the verge of exhaustion as a result of overwork. High stress and mental health struggles led to high turnover and high rates of job dissatisfaction, making it difficult for companies to retain talented people. The four-day workweek seems to have alleviated at least some of this stress. 71% of participants reported lower levels of burnout, while 39% reported less stress overall than when they began the test.
What are the benefits to employers?
Employees weren’t the only ones seeing measurable benefits from this program; companies and business leaders liked it too. Participating businesses found that productivity was not affected by switching to the four-day model. Companies also saw a 65% reduction in sick and personal days, and the number of resignations dropped by more than 50% when compared with an earlier six-month period. Those are pretty compelling numbers that suggest the four-day workweek significantly improved not only employee satisfaction but their well-being and mental health, thus, increasing retention levels. A decrease in employee turnover lowers a company’s recruiting costs, so switching to a four-day workweek could actually save companies money over time. More than 90% of participating businesses said they would continue testing the shorter week, while 18 businesses plan to make it permanent. Being an early adopter of the four-day week could put you at an advantage when it comes to hiring as well. Imagine yourself as a top candidate; if you had to choose, wouldn’t you be more likely to go with the company that offers a four-day workweek?
How can I bring this to my office?
The secret is not to work harder but smarter. The U.K. study, which was conducted from June through November of last year, found that most employees did not work more intensely. Rather, bosses and employees came together to implement strategies for efficiency. We all know the struggle of being in back-to-back meetings and thinking, “This could have been an email.” Turns out we were probably right. Bosses in the U.K. study cut back on meetings to ensure employees had enough time to complete tasks. During the study, employers scored productivity at around 7.5 out of 10. A survey conducted three months into the trial found that 46% of companies said their performance level was unchanged. 34% reported a slight improvement in performance, and 15% reported a significant improvement.
If your company has instituted a successful hybrid program, try pointing to that as evidence that your workforce is nimble, can adapt to big changes, and still keep their productivity up. Tout the benefits to both employees and companies to encourage leadership to give the four-day workweek a try. You might be surprised by their response!