The idea of a four-day work week has been thrown around for a number of years, but how do the figures stack up?
A recent pilot involving 30 companies and almost 1,000 employees in businesses in Australia, Ireland, and the US found that the four-day work week is a winner. Companies rated the four-day work week trial a 9 out of 10, expressing extreme satisfaction with their overall productivity and performance. Employees also rated the pilot highly, with 97% saying they want to continue on a four-day week.
Despite employees working only four days, the companies involved saw a 38% increase in revenue year-on-year, despite no reduction in pay for employees. Every single business involved in the trial is sticking with the four-day week, and employees loved their day off so much that most said they would need a significant pay rise to go back to working five days.
Maybe it’s time to think about whether it could work at your business. It could be just the thing you need to attract good talent – which has been in short supply in New Zealand lately.
The advantages of the four-day week are:
The disadvantages of the four-day week:
If you’re considering a four-day week, or another flexible arrangement, we can help. It’s useful to identify your least profitable days, for instance, if you plan to simply shut up shop for one weekday. Or we can help you work out optimal staffing requirements based on revenue streams.
Our team can work with you to do a cost-benefit analysis of what a four-day work week might look like for your business, discuss how you can change the way your business operates – and help you reap the rewards.
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