The world’s largest trial of a four-day week ended this week — and 92% of the companies that participated plan to continue with the truncated work schedule because the benefits were so clear.
The study of 61 UK-based companies and about 3,000 employees delivered results that are largely consistent with existing evidence from other studies, “further demonstrating the benefits of reduced-hour, output-focused working,” the study concluded.
After the trial, 56 of 61 companies are continuing with their four-day week. Only two companies said they are “definitely not” doing so, while others three expect to continue, but have not confirmed it.
The pilot program was conducted by the nonprofit 4 Day Week Global, the UK’s 4 Day Week Campaign and Autonomy, a think tank. It guided the companies and their workers through a six-month test of a 32-hour, four-day week, with no loss of pay for employees. Including a previous study of companies in US and Ireland, a total of 91 companies with about 3,500 workers completed pilot programs of a shorter work week.
In addition, 75 companies and 1,751 employees completed surveys, which led to the latest findings.
Companies rated their overall experience with an average of 8.5/10, with business productivity and business performance each scoring 7.5/10. Remarkably, corporate revenue — weighted by company size across respondent organizations — remained mostly the same over the trial period, rising by 1.4% on average. When compared to a similar period from previous years, organizations reported revenue increases of 35% on average, an indication of healthy growth during the work time reduction.
“Some of the most extensive benefits of shorter working hours were found in employees’ well-being,” the study concluded. “Before and after data shows that 39% of employees were less stressed, and 71% had reduced levels of burnout at the end of the trial. Likewise, levels of anxiety, fatigue,…
2023-02-23 13:00:03
Source from www.computerworld.com
In recent years, companies around the world have been transitioning to a four-day workweek. After trialing the new system, many companies have now got on board and have decided to retain the four-day workweek going forward.
The idea of a four-day week has been around for about a century, but it has become increasingly popular in recent years as people look for ways to make work-life balance more achievable. It’s become a trend among tech companies, with Microsoft Japan leading the way back in 2019. Since then, other companies including Adobe, Spotify, and Amazon have followed in their footsteps.
The decision to retain a four-day workweek is largely driven by increased productivity and greater job satisfaction among employees. Research has found that a shorter work week boosts productivity, as workers have more energy and a better mindset when completing tasks. In addition, the four-day workweek has been shown to decrease employee stress, leading to a happier, more productive workplace. It can even have a positive financial impact, as fewer days spent in the office leads to savings on wages, rent, and other expenses.
To make the transition to the four-day week, companies have implemented a variety of strategies. Some have left it up to employee discretion on which days they take off, while others have implemented strict rosters. Some have also implemented flexible working hours and reduced the number of tasks required in the workweek. Whatever the strategy, the results have been overwhelmingly positive, with companies citing increased employee satisfaction and improved morale.
The four-day workweek may be here to stay. More and more companies are looking to make the transition, and the ones who have already done so are seeing the benefits. Not only does it boost productivity and help create better work-life balance for employees, but it also has a positive financial impact. In the end, it’s a win-win for both companies and employees.