The four-day workweek is the newest trend to hit the recruitment market – and for good reason.
Employers are looking for new ways to attract and retain talent (without going over budget), meanwhile, we’ve observed that candidates’ needs have recently shifted to value work-life balance higher than their salary amount.
With the rise of automated workflows which are helping us to become more efficient in less time, such as by booking meetings through apps or scheduling emails and content days, weeks, or even months ahead, it’s easy to see how this trend is set to become a significant phenomenon.
The question on our minds is; Is a four-day workweek a viable option for employers who need to ensure their service’s quality and productivity remain high?
The pilot program carried out by 4 Day Week Global looks to answer these questions and more, with their results from a 6-month trial in North America now available. We’re going to look at the results to see if this new workweek could soon become the next great tool for recruitment, talent attraction, and productivity.
What is a four-day workweek?
Put simply, this idea puts forward that working four days without a pay reduction will yield better productivity and results. It is based on the 100-80-100 model designed by Charlotte Lockheart and Andrew Barnes where companies allow employees to work 80% of their scheduled hours, in exchange for 100% of their pay and 100% of their standard output.
Whether reducing stress and burnout or freeing up time for people to become more creative, this method may at first seem counterintuitive – however, this theory has gathered steam and looks to shake up the way that businesses work.
To test this, the study took 33 companies (with over 900 employees) and ran the four-day workweek across the USA, Australia, Ireland, the UK, New Zealand, and Canada. Most companies were smaller companies, with their largest proponent being within the IT, telecoms, and administrative sectors. The second largest business group was professional services with other industries in smaller quantities beyond this. This ensured a wide scope of businesses, structures, and business culture diversity to provide a more comprehensive understanding.
So, what were the results?
The employees’ experience
The US trial of 4 Day Week Global’s study was carried out by Professors Schor and Fan, along with Ph.D. candidate Guolin Gu, at Boston College. Companies who volunteered for the four-day workweek trial carried out surveys at several stages of the program and this data was collected and studied to see what benefits, if any, there are for a shorter workweek.
For employees, the program was a resounding success. On a scale of 1-10 (1 being bad and 10 being good), the average overall experience was scored 9.1 with 96.9% of trial employees wanting to continue with a four-day workweek.
Some of the key takeaways for employees were improved performance (rising from 7.17 pre-trial to 7.83 during the trial) and improved health with reduced cases of stress, burnout, fatigue, and family conflict. Employees were also able to spend more time pursuing hobbies and interests, which also led to improved physical and mental health.
All of these positives are a net benefit for businesses, as their teams are more motivated to work and less likely to take leave for medical or personal reasons. But it doesn’t end there…
The employers’ experience
Perhaps most surprisingly, companies also saw this study as a resounding success. Some of the main positives included:
- Companies rated their experience a 9.0 out of 10, with none returning to a five-day week post-trial
- Revenue rose an average of 38% when compared with the same period in the previous year
- An extra day off was so valuable to workers, 70% say they’d need a 10-50% pay increase to return to 40 hours
These stats only scratch the surface as the four-day workweek also allowed companies to experience better talent acquisition and retention – which was a huge buffer to the ‘Great Resignation’ seen in 2022. This along with increased revenue allowed employers to grow too, with the total number of employees within the 33 companies rising from 903 to 969 by the end of the trial.
What are the benefits of a four-day workweek?
For both employers and employees, it’s easy to see how 4 Day Week Global’s study highlights the benefits a shorter workweek can bring.
All businesses on the trial reported favourable results with more hiring, reduced resignation, increased revenue, and increased retention, while employees were so sold on the idea that 70% would turn down a pay rise for the extra day off. With these figures in mind, is it time that businesses change the 5-day workweek convention?
Work with Distinct today
At Distinct, we too offer a four-day workweek to our consultants. Through our own experiences, we are well-placed to advise you if you’re considering implementing a four-day workweek within your organization.
We specialize in supporting businesses and candidates to find the perfect role. Our team goes beyond the CV to understand your motivations and ambitions, and to place personnel in positions where they can thrive and support the goals of the employer. This 3D approach ensures we find the right fit, the first time around, saving employers precious time and money while also giving our candidates the perfect opportunity to thrive.
For more information on our services, please contact us today. Our team is on hand to answer your questions and get you started on your recruitment journey.
—
Bibliography:
https://www.4dayweek.com/us-ireland-results
Schor, Juliet B., Wen Fan, Orla Kelly, Guolin Gu, Tatiana Bezdenezhnykh, Niamh Bridson-Hubbard, 2022, “The Four Day Week: Assessing Global Trials of Reduced Work Time with No Reduction in Pay,” Four Day Week Global, Auckland, NZ.
With contributions from Jacob Chappelear, Sarah Ix and Meriel Zhao
