CHIEF OF STAFF FIVE: The idea of a four-day workweek is not entirely new as many companies have been implementing this policy even before the Covid-19 pandemic. But as employers try to create a better employee experience in response to higher demand for work-life balance, a four-day workweek is one of the solutions at hand.
Here are five benefits of a four-day workweek for both businesses and employees.
1. Increased productivity
The Society for HR Management has reported that 60% of organisations that utilise a four-day workweek experience higher productivity and increased employee satisfaction. This could be due to reduced stress and burnout, increased focus and concentration, and a greater sense of work-life balance.
Switching to a shorter workweek also allows employees to be more present and engaged, and more efficient in using their time and company resources.
2. Improved employee wellbeing
A shorter workweek can lead to better physical and mental health outcomes, as employees have more time to rest, recharge, and spend with their family, friends, and personal projects. Allowing employees to be less consumed with work leads to a decrease in stress and anxiety, which can help them become more grounded and satisfied with their jobs.
3. Reduced absenteeism
Because of the benefits of a shorter workweek to overall health, employees are also less likely to take time off due to stress, burnout, or illnesses.
Reduced absenteeism helps employees become more focused and efficient in accomplishing their tasks, increasing the quality of their performance and output. Sustained enthusiasm among the workforce helps ensure that company targets will be met.
4. Reduced turnover
Amid a global war on talent, companies are racing to find solutions and implement strategies that will help them attract the best talent and keep their employees from leaving.
Among the major causes of high staff turnover are stress and burnout, which can be prevented by proactive employers. While a shorter workweek will not 100% guarantee that employees will stay with the company, it will give them good reasons to do so.
Fewer time spent working will help employees attend to personal or household matters that may be affecting their performance during work hours. Moreover, a shorter workweek will help them realise that there is more to life than work, empowering them to be more creative, innovative, and adventurous.
5. Higher savings
Companies that implement a four-day workweek can save on operational expenses such as utilities and supplies. This will help businesses realign their budget towards other expenses or investments such as learning and development initiatives, or to increase salaries and benefits of employees.
A shorter workweek also helps employees financially as they will spend less money on gas, public transportation, food, and other work-related expenses.
