LONDON–A large majority of companies in this country—including financial institutions—that participated in test of a four-day workweek said they would stick with it after experiencing sharp drops in worker turnover and absenteeism while largely maintaining productivity during the six-month study, according to a new report.
In a large trial of the four-day week, 61 British businesses that included banks and fast-food restaurants and marketing agencies gave their 2,900 workers a paid day off a week to see whether they could get just as much done while working less, but more effectively, the Wall Street Journal reported.
More than 90% said they would continue testing the shorter week, while 18 planned to make it permanent, according to the new report from 4 Day Week Global.
New Momentum
“The idea of working less than the conventional 40 hours over five days a week has been discussed for decades,” the Journal reported. “The concept has gained new momentum recently as employers and employees seek new and better ways to work. The Covid-19 era ushered in broader acceptance of remote and hybrid work arrangements.”
Some employers, as well as policy makers, are exploring whether a shorter workweek can improve employee well-being and loyalty, the Journal added.
“At the beginning, this was about pandemic burnout for a lot of employers. Now it’s more of a retention and recruitment issue for many of them,” Juliet Schor, an economist and sociologist at Boston College, told the Journal.
Tests Across Countries
The Journal said Schor’s team helped conduct the study with the nonprofit advocacy group 4 Day Week Global, part of the U.K.-based think tank Autonomy, which focuses on issues including the future of work and climate change; and researchers at Cambridge University.
Companies in the U.S., Canada, Australia, Brazil and Iceland have also conducted related studies.
“In the U.K. study, which ran from June through November, most employees didn’t work more intensively, researchers say,” the Journal reported. “Rather, they and their bosses sought to make work days more efficient with hacks such as cutting back on meetings and ensuring employees had more time to focus on completing tasks.”
The Score
The report found that on a scale of 0 (very negative) to 10 (very positive), employers on average scored their productivity and performance over the six months at 7.5. A survey conducted halfway through the trial found 46% of companies said their business productivity had remained about the same, while 34% reported a slight improvement and 15% a significant improvement, the report added.
“Meanwhile, 39% of employees said they were less stressed than before the pilot program started; about half reported no change,” the Journal said. “Nearly half observed improvement in mental health, and 37% also noted an improvement in physical health.”
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