Is a 4-day working week set to become the new norm?
We all love a 3-day weekend. Bank holidays are always a cause for excitement. But what if you scrapped the traditional 5-day week and made this the norm?
If the results of the world’s largest ever four-day working week trial are anything to go by, this may be the way things are heading.
Organised by 4 Day Week Global in partnership with thinktank Autonomy, the study saw researchers examine the impact of reduced working hours over a six-month period.
61 companies across a variety of sectors, (including seven charities), took part, cutting their working hours by 20%, with no reduction in pay, from June to December 2022.
The findings were significant:
56 of the 61 organisations that took part said they plan to continue with the four-day working week, while 18 confirmed the policy has become a permanent change.
39% of employees said they were less stressed compared with the start of the trial, and the number of sick days taken during the trial dropped by around two-thirds
71% had reduced levels of burnout at the end of the trial.
60% of employees found an increased ability to combine paid work with care responsibilities
The number of staff leaving participating companies dropped by 57% over the trial period.
The results even found that company revenue increased slightly by 1.4% on average over the trial period, and by a much higher 35% compared to the same six-month period in 2021.
Winning the war for talent
The trial has shown that (among other things) a shorter working week has the potential to improve employee wellbeing, improve productivity, and boost revenue.
But there’s another major benefit. In the current candidate driven recruitment market, flexible working is high on jobseekers wish lists. In fact, a study by Remote found that 77% of 10,000 individuals surveyed valued flexible working hours over any other perk.
However, employers are well aware of this, with two thirds now offering it as standard. To win the war on fundraising talent, you need to take flexible working a step further.
A four-day working week could be just the thing to give you the edge over your competitors.
Opinion
It remains to be seen whether a four-day week is the solution to the changing 21st century workplace. It’s a concept that many organisations may struggle with, at least initially, as it requires a break to working culture norms and a complete shift in mindset.
But, if employee attraction, retention and wellbeing are high on your priority list, a four-day workweek could be the answer.
Final Word
Whether you offer a 4-day work week or not, we have a bank of talented fundraisers looking to get their teeth into their next role. Give us a call on 020 3750 3111 to get the conversation started.