Can the four-day week work for my company?
Reducing the working hours can be overwhelming and is not applicable in all sectors. Shorter working hours are a reality for digital nomads and entrepreneurs. But it's becoming increasingly widespread in companies seeking to attract and retain talent, generally IT companies. This methodology is easily applicable in traditional office hours.
In the B2C services sector, its implementation may seem more complicated. But catering companies as La Francachela uses this method since the lockdown.
At Luxe Talent we look for work-life balance. For this reason, during the summer, the team can choose between a 4-day week or intensive working hours.
Studies and figures on the four-day week
In 1919, the current 5-day working week was adopted. The 65-hour working week was changed to the current 40-hour. 100 years later, are we facing a new change?
In 2019 Microsoft conducted a test in its Japanese offices and employees kept their salary, but reduced their working hours by one day. The main consequence was a 40% increase in productivity.
According to a SimpleTexting study reported by Forbes 900 americans out of 1,000 interviewed consider the 5-day work week outdated. 80% claim that the pandemic has changed their priorities and desire shorter working days. 98% of respondents say it would improve their mental health.
Companies in Iceland, Sweden and the UK were early adopters. They all agree on benefits like:
- Happiness and well-being at work.
- Healthier employees, physically and mentally.
- Reduction in absences from work due to private errands or medical appointments.
- As a result, workers are more productive.
Talent Management in short weeks
Millennials are playing a key role in the workplace, accounting for 24% of the world's population. It's a generation marked by a high turnover and as we mention in our Sector Salary Survey 2022, they perceive work-life balance as a major condition when it comes to scoring one vacancy over another.
The next generation, Gen Z is characterised by a high concern for mental health, and even stronger social-ethical values than their predecessors.
The 4-day working week can be a good tool to attract talent, especially in the younger generations. Studies by the University of Reading show that 68% of employers perceive the 4-day working week as a tool for attracting and retaining talent.
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