4 Day Working Week: Will this work for your Business?
In recent years, the idea of a 4 day working week has gained traction, with companies around the world considering this as an option. While it may sound appealing to have an extra day off, there are both pros and cons to such a work arrangement.
More than 60 businesses decided to take part in a 6-month trial in 2022. Over 90% of businesses who have taken part in this have decided to continue trying out the four day week. Employers who were a fan of the trial found that it brought a variety of benefits including increased productivity.
However, we understand that this type of flexible working won’t necessarily work for all businesses. In this article, we’ll explore the advantages and disadvantages of a 4 day working week to help you make your decision.
What is a 4 day working week?
Some of the things that employers are unsure of is how this works and what it involves. In this particular trial we discussed above, businesses offered an 100-80-100 model. This means employees received 100% pay for working 20% less hours in exchange for 100% productivity.
For businesses who are unable to offer this, they can look at allowing their staff to spread their normal hours over 4 days instead of 5.
However, there are other variations such as a compressed workweek, where employees work a full-time schedule over fewer than five days, and a split-week arrangement, where employees work four days in one week and then three days in the following week. The idea behind a 4 day working week is to give employees an extra day off while maintaining their productivity and work output.
Improved work-life balance:
One of the main advantages is that it allows employees to have a better work-life balance. With an extra day off, employees have more time to pursue hobbies, spend time with family and friends, and engage in activities that help them relax and recharge.
Many studies have shown that reducing the number of working days in a week can actually increase productivity. With a shorter workweek, employees are more focused and motivated, which can result in higher levels of productivity.
Better employee health:
Long working hours can have a negative impact on employee health. A 4 day working week can help reduce stress levels, improve mental health, and reduce the risk of burnout.
Attract and retain talent:
Companies that offers this can attract and retain top talent. This can be a significant advantage in today’s competitive job market.
Difficulty in coordinating schedules:
If not all employees in a company work on the same 4 day schedule, it can be difficult to coordinate schedules and ensure that everyone is available when needed.
A 4 day working week usually means longer workdays. While employees have an extra day off, they may end up working longer hours on the days they are in the office.
A shorter workweek can mean that employees are less available to clients, customers, or colleagues. This can be a disadvantage in some industries where being available during traditional business hours is important.
A 4 day working week has its advantages and disadvantages. While it can improve work-life balance, productivity, and employee health, it can also result in longer workdays, and decreased availability. Companies considering a 4-day working week should carefully weigh the pros and cons and consider whether it is the right choice for their employees and industry.
However, if you find your business can still thrive while offering this type of flexible working, we encourage you to try it out. This will help you gain and retain talented employees.
If you would like help to introduce a 4 day working week in your business, contact our HR Consultants now.