The idea of a four-day working week has gained traction over recent years, particularly since the Covid-19 pandemic triggered a shift away from traditional working models to hybrid and flexible working patterns.
Different Four-Day Work Week Models
One version of the four-day work week is when employee hours are reduced but wages remain the same, such as an employee working one day less each week but still being paid the same amount each month.
Alternatively, employees may compress their full-time working hours over a four-day period, meaning that five days’ worth of work is compressed into four days of longer shifts.
Iceland’s Shift to a Four-Day Working Week
Trials of the four-day working week have been undertaken in various countries over recent years. Of these countries, Iceland’s trial seems to have been the largest success.
Between 2015 and 2019, Iceland led one of the largest four-day working week pilots, with a trial involving around 2,500 participants (making up around 1% of their working population).
This trial was hugely successful, triggering a change in Iceland’s standard working hours, with 86% of the country’s workforce now working shorter hours or gaining the right to shorten their hours if they wish to.
UK’s Four-Day Week Pilot
The world’s largest four-day working week trial, involving 61 companies and around 2,900 workers, took place between June and December in the UK last year.
Participating companies designed policies best suited to their own industry and workforce; they did not have to implement any particular type of four-day week, as long as employees experienced a meaningful reduction in work time whilst maintaining 100% of their pay.
- 39% of employees were less stressed after the trial
- 71% had reduced levels of burnout
- 60% found they were more able to combine paid work with care responsibilities
- 62% found it easier to combine work with social life
- The number of staff leaving participating companies dropped by 57% over the trial period
Therefore, the trial was a resounding success for those involved. In fact, 56 out of 61 participating companies have chosen to continue the four-day working week, representing a 92% success rate, with 18 of these companies confirming this policy is a permanent change.
Whilst it may be expected that employees working less hours for the same pay would create a drop in company revenue, this was not the case for those involved in the trial. Instead, company revenue rose by an average of 1.4% over the trial period, and when compared to a similar period from previous years, participating organisations reported revenue increases of 35% on average.
Benefits of the Four-Day Working Week
- Improved employee productivity
- Reduced carbon footprint (due to a reduction in work commutes)
- Improved work-life balance of employees
- Fewer work absences
- Improved employee retention
- Maintained, or improved, company revenues (based on findings from the UK’S Four-Day Week Pilot)
However…
Unfortunately, a four-day working week does not suit all industries as it would not work practically for some professions, such as public transport networks or emergency services.
It also goes without saying that the four-day week does not suit all workers; it all comes down to personal preference.
Benjamin Laker, professor at Henley Business School, states:
“The biggest barrier to companies introducing a four-day workweek is likely a combination of entrenched culture and resistant bosses”
“Some managers may view the shorter workweek as reducing their control, or making it more difficult to manage employees”
This is a significant point, as one of the biggest barriers to the UK shifting to a four-day working week is that it goes against what many of us are used to. The four-day week goes against traditional working patterns. However, perhaps the Covid-19 pandemic has helped us embrace non-traditional working patterns, as it led to many people working from home, with many companies maintaining flexible work practices today.