Business

These 61 companies have tried the 4-day work week – and most stick with it


Four-day work week to win.

Companies in the UK that tested the four-day work week last year reported higher turnover and fewer layoffs, while most workers participating in the trial said they suffered less burnout. , less negative emotions and more satisfied with work-life balance.

This is the end result of a study on how 61 UK companies and around 2,900 of their workers cope with the pent-up work week from June to December 2022. The study was carried out by Global 4 day weeka nonprofit that supports the idea of ​​a shorter workweek.

Companies give an experience score of 8.5 out of 10, while revenue increases an average of 1.4% during the trial period. Compared to the same spots a year ago, revenue increased by an average of 35%.

A four-day workweek was once a fringe idea, but it’s gaining traction.

A four-day workweek was once a fringe idea, but it’s gaining traction. During the World Economic Forum 2022, there was a discussion groups about the shorter workweek, along with an additional post on how a four-day workweek doesn’t reduce productivity and can even boost it.

In the past, US-based companies included Microsoft
MSFT,
-2.09%

and Shake Shack
SHAK,
+0.73%

has tested a four-day workweek for salaried people with some success. In an experiment conducted in 2019, Microsoft reported a 40% increase in productivity when employees worked four days a week, but then the company didn’t implement a fixed four-day workweek.

The researchers noted that the majority of participating businesses – 92% – said they plan to continue with the four-day workweek. Two of the remaining five businesses are extending the trial period, while the remaining three are on pause.

Reduce burnout

In this study, more than half of workers said the four-day work week increased their ability to get work done, and 71% said it reduced burnout. About 40% said they felt less stressed and their mental health improved, and 54% experienced fewer negative emotions.

“Overall job and life satisfaction is higher, employees report lower burnout rates, and better physical and mental health. People also had fewer sleep problems and exercised more,” the report said, based on data from researchers at Boston University and Cambridge University.

Initial data on UK testing shows widespread popularity. At that time, nearly half of businesses said productivity remained the same, while a third reported slight improvement and 15% said improvement was more pronounced.

About a quarter of new job postings last month were advertised as remote, down from 32% in the fourth quarter.

4 Day Week Global says it studied 91 companies, and about 3,500 workers — including 61 from the most recent study — have tried compression week. Researchers will have more findings from other parts of the world in the coming weeks and months.

The question remains: How many companies are left? will go along with the idea? At the end of last year, 40% of companies surveyed said they were starting to adopt a 4-day work week or were considering using it, according to statistics. EY’s Future Workplace Index.

The findings – which come as many American workers begin their own holiday work week after Presidents Day – add to the debate about what office life should be like.

There is still a constant push in the number of days that bosses expect their employees to be in the office. Massive remote work started as a backup plan for the office during the pandemic.

As the worst days of the pandemic pass, remote work expectations have become an important part of the work-life balance equation.

About a quarter of new job postings last month were advertised as telecommuting, down from 32% in the fourth quarter of 2022. According to the global HR company International Robert Half
RHI,
-2.96%
.
Two-thirds of workers polled said not having to commute to work was the best part of remote work, and 45% said the top feature was better morale and work-to-work balance. life.

In a recent episode of it Best new ideas podcast about moneyMarketWatch checked to see if the US actually has a four-day workweek.

Weston Blasi contributed to this report.

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