Is a 4-Day Workweek Good for Enterprise?

Opinions expressed by Entrepreneur contributors are their very own. Over the previous couple of years,…

Is a 4-Day Workweek Good for Enterprise?

Opinions expressed by Entrepreneur contributors are their very own.

Over the previous couple of years, there have been some seismic shifts in how we view work. Motivations, needs and expectations are evolving to the purpose that employers want to begin contemplating completely different choices in the event that they need to appeal to and retain high expertise. One choice is a four-day workweek. The query is: Is it truly good for enterprise? On this article, I will discover the reply to that query by evaluating a few of the high professionals and cons of the four-day workweek and what it means for companies and staff.

How does a 4-day workweek work?

For 90% of enterprise homeowners, the pandemic modified every part about operating an organization and managing workers. It required fast pivots, flexibility and revolutionary decision-making. And even as we speak, with the worst of the pandemic behind us, the results are lasting.

In a 2020 examine, 62% of employees stated they skilled burnout “typically” or “extraordinarily typically” over the earlier 90 days. And in 2021, 67% of staff stated their stress and burnout had elevated for the reason that onset of the pandemic. It is no coincidence that we have additionally seen a rise in distant working, hybrid working and four-day workweeks over the previous 12 months.

There is not any normal “four-day workweek” setup. Like several working setup, there are completely different variations. In some organizations, it is a true four-day workweek, that means workers work roughly 32 hours as a substitute of 40 hours per week. In different corporations, workers are required to work 4 10-hour days to verify 40 hours of labor continues to be accomplished. After which there are some corporations that take Wednesdays off as a substitute of Fridays. This implies workers work Monday/Tuesday and Thursday/Friday. Once more … it is all as much as the employer.

Whatever the setup, the objective is to crush burnout, promote steadiness and maintain workers blissful, productive and dependable. And, imagine it or not, it is actually beginning to catch on. There’s even a brand-new pilot program that has 3,300 staff at 70 British corporations (starting from giant monetary establishments to small consulting corporations) testing out a four-day week this 12 months to collect precious information and insights on what kind of setup works greatest.

Associated: Is the 4-Day Work Week Higher? Proof Factors to Sure.

The professionals of a 4-day workweek

  • Worker motivation: Take into consideration how motivating it’s figuring out you’ve got a three-day weekend arising. Now, think about having a three-day weekend each weekend! When workers notice they solely should make it via 4 days of arduous work and stress, quite than 5, it does one thing constructive to their motivation and psyche.

  • Value financial savings: In line with a examine performed by the Henley Enterprise College, 51% of business leaders report value financial savings related to a four-day workweek (when in comparison with a typical five-day workweek).

  • Elevated productiveness: On paper, you may assume {that a} 20% discount in complete work time would end in 20% much less output, however this is not essentially true. Firms typically discover the compressed workweek leads to larger productiveness and output. Microsoft Japan, for instance, increased its productivity by a whopping 40% after going to a four-day setup.

  • Much less downtime: The identical Henley Enterprise College examine revealed corporations with a four-day workweek report 62% fewer sick days getting used. There’s additionally much less wasted time on the job as workers really feel motivated to get every part accomplished earlier than the three-day weekend.

  • Expertise acquisition and retention: At the moment’s workers are in search of extra than simply wage. They need to work for corporations that care about issues like work-life steadiness. Having a four-day workweek provides organizations an enormous aggressive benefit on the subject of buying and retaining expertise.

The cons of a 4-day workweek

  • Buyer help availability: For those who’re in a service enterprise the place clients rely on you for ongoing help, taking three days off each week may irritate them and/or trigger some clients to change to a competitor.

  • Scheduling points: Once you’re solely open 4 days every week, it will probably make it troublesome to schedule conferences, fulfill obligations as a part of partnerships, and so on. It’s important to discover inventive methods to work round this.

  • Elevated stress: When there are solely 4 days in every week to get work accomplished, it places added stress on workers to carry out. Generally the stress could be an excessive amount of — inflicting some workers to really feel overwhelmed and paralyzed. This is not a difficulty for everybody, however can positively play an element.

  • Worker challenges: On the floor, you may assume that each worker would like to have Fridays off. Nevertheless, you need to take into account the influence it has on their schedule. For instance, in case you go from a 9-5 schedule to an 8-6 schedule to accommodate for having an additional time off, it might stop workers from with the ability to drop their children off in school or attend extracurriculars within the evenings. Be sure you take into account particulars like this!

Associated: Will a 4-Day Workweek Produce Higher Productiveness?

There is not any one-size-fits-all answer to operating a enterprise. You already know that in addition to anybody. However in case you’re in search of a technique to propel your organization into this new age of enterprise, a four-day workweek may very well be the reply. Contemplate testing it out this 12 months!