By Ashley Snodgrass, Employee Benefits Analyst
Employers are reaching for new tactics in the war for talent. Beyond a rich benefit package, solid leadership, and opportunities to improve, employers are innovating to set themselves apart from the competition.
I write as neither an advocate nor adversary of this movement. My goal is not to highlight the challenges or the benefits. Instead, I invite you to investigate the motives behind the movement, and evaluate whether why or why not the four-day work week would benefit your company.
First, let’s understand the definition of the four-day work week. The idea is not to shift to a 10-hour day schedule, 4 hours a week, for the same 40-hour work week. Instead, a 34-hour work week (4 days a week, 8.5 hours a day) is commonly proposed. The intention is still to maintain the same level of productivity as in a 40-hour work week, same level of pay, but with a renewed focus on work-life balance, with three days off each week.
Companies who are trying this out have been met with a wealth of benefits. Increased retention, increased applicants for jobs, and improved wellness among employees to name a few. The first pioneering companies paved the way with such success, that entire countries are now considering the data, and running their own tests. Currently, the U.K. launched a six-month experiment with 70 companies to test out the four-day work week.
I’ve included links to several articles below that highlight the four-day work week. I encourage you to read through them when evaluating the needs of your company.
Resource Round Up: About the Four Day Work Week
By Devin Jackson, Employer Services Account Specialist
Are you still having problems with employee retention because of Covid? Well, I may have found just the solution you need to pique the interest of the new, forward thinking, and upcoming work force. A four-day work week. Which conveniently yields a three-day weekend!
Employees are starting to want more freedom and a well-balanced work, home life. Studies are showing that a 4-day work week can not only yield more employee productivity, but can also increase employee energy and happiness, which in turn helps to promote a better work environment. The pros and cons have been listed, and it’s up to each employer to see how they land in their industry. Check out the article below to see if a 4-day work week may be a good fit for you and your company.