Do You Need to Adopt a 4-Day Workweek in 2023?

When industrialization cut the 12 hours it took to assemble one car to one-and-a-half, Ford decided to double salaries, cut hours from 9 to 8, and reduce the workweek from six to five. This was in 1926.

What followed were economists predicting a four-day workweek in the near future. Decades later and the 4-day workweek pros and cons conversation remains a debatable topic instead of a concrete foundation for the future of the workplace.

The 4-Day Workweek Movement

The COVID-19 pandemic made businesses around the world more receptive to alternative ways of work. Apart from remote work, hybrid conditions also came into fruition, along with 4-day alternatives like the 32-hour workweek, and the 4/10 schedule.

While remote and hybrid arrangements have become commonplace and are expected to continue in the post-pandemic era, the 4-day workweek (remote or not) continues to be perceived as questionable.

This applies to the 4/10 arrangement where employees work 4 days with 10-hour shifts, and the other where employees work 32 hours a week, scheduled 4-days per week.

While the biggest challenge is that most companies today are still subscribed to the traditional 5-day workweek, others who have adopted the 4-day model have reported multiple positive results. Job satisfaction, mental health, cost reduction, and efficiency are among the most commonly reported effects.

If you’re wondering how to implement a 4-day workweek, here are the key pros and cons you should consider.

Pro: Find Better Talent 

About 63% of companies that implemented a 4-day workweek found it easier to attract and retain talent. Flexibility is highly attractive even to the best of the best, making it easier for your company to find the people it needs to grow in the right direction.

Con: High Risk

As with any business decision, this adjustment should carry considerable risk. While studies already exist, this may still take a lot of resources to plan and adjust the model specifically for your business. Even then, failure to execute it properly may incur great losses. 

Pro: Happier, Healthier Staff

Foremedix employees reported better job satisfaction and work-life balance after a 6-week trial period of the 4-day workweek model. Other companies also observed fewer sick days and PTOs.

After organizing tasks and optimizing their schedules, both employees who experienced the 4-day workweek model found improvements in their mental and physical well-being, resulting in sustained or boosted productivity, more happiness, and improved employee retention.

Con: Increased Pressure

Shortening the workweek means everyone has less time to do the same work. While most have resorted to shortening or eliminating team meetings, the transitionary period may still create unnecessary stress and pressure on your team.

5 Reasons You Should Consider Implementing A 4-day Work Week

1. Sustainability

Shortening the workweek is eco-friendly. Decreased commutes and energy consumption is beneficial to the environment. The 4-day workweek easily decreases your company’s carbon footprint.

Without sacrifices in pay and customer satisfaction, implementing a 4-day workweek has also been found to create more balanced and sustainable lives for employees due to an increase in efficiency and lesser burnout.

2. Cost Savings

Even without cutting salaries, you’ll find that having fewer work days leads to cost savings as fewer days in operation also means fewer overhead costs. 

While companies tend to save on expenditures from sick days, utilities, or even salaries, employees experience the benefit of a reduction in travel expenses. A reduction in recruitment costs can also be observed following the increased attractiveness and retention for companies following the 4-day model.

A recent study found nearly £92 billion in annual savings for companies with a 4-day workweek in the UK. 

3. Efficiency

While an increase in productivity remains in question, about 70% of employees in test groups report that they are working more efficiently during a 4-day workweek. Other companies also report no drops in productivity, signaling an improvement in efficiency within their teams.

One way of viewing this is as a result of decreased burnout as employees have more rest days. Another is that it becomes a natural result of adjusting to having fewer days for work. Nevertheless, a drop in productivity is not a common problem for companies that tested the 4-day workweek model.

4. Scalability

The 4-day workweek is often considered in the near future of the global workplace. With more employees and companies being agreeable to this arrangement, it’s only a matter of time before this becomes a reality for everyone.

The scalability of the 4-day workweek is not questionable. Even as the economy fluctuates, this kind of arrangement will remain attractive to employees, helping with recruitment and retention. Effects on efficiency and costs also show promise in sustaining and growing a business even during an economic downturn.

5. Time

Time is probably the most important resource involved in the conversations around the workweek. With a 4-day model, employees and founders alike have the chance to avoid burnout. A 3-day weekend also allows employees to attend to personal matters more efficiently.

All of these contribute to having a better workplace where everyone has better chances of striking a proper work-life balance, and having autonomy over the economics of their time.

Rethinking the 4-day Workweek for 2023

You can be innovative in figuring out how to implement a 4-day workweek for your company. One way is to look into previous 32-hour workweek studies and their results. 

You can cut work hours or workdays, or do a bit of both. While the 32-hour workweek’s benefits have been proven by other companies, yours might be better off with 40 hours in a 4-day workweek.

There’s also outsourcing to virtual assistants, mentioned by Tim Ferriss in his blueprint for achieving an even shorter 4-hour workweek. Outsourcing some of your team’s tasks will be helpful in managing task overload, especially during the transition from the traditional workweek.

These are only a few ways you can try to implement a 4-day workweek in your team for 2023. While there are others, it is very useful to weigh the pros and cons and observe tests adjacent to or within your industry.

If you want the help of virtual assistants in shortening your team’s workweek, fill out this form and one of our Consultants will get in touch with you about our services.

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