600 Business Leaders Weigh In On A 4-Day Work Week, With Surprising Results
A four-day workweek it isn’t only preferred by employees, but by business owners too.
As more workplaces test out a four-day workweek, results show that it isn’t only preferred by employees, but business owners favor it too. Several previous studies have shown positive results, and a new survey points to just how successful these pilot projects have been among employers.
In June, ResumeBuilder.com surveyed 600 business leaders to learn more about their feelings and thoughts on a four-day workweek policy. Survey participants all “had an organizational role of C-level executive, director, president, owner, senior management, or HR manager.”
There were some interesting findings, including the number of businesses that already offer a four-day work week and those that have plans to make the switch.
“Overall, 20% of business leaders say their company already has a 4-day work week, and 41% say their company has plans to implement the policy,” ResumeBuilder.com notes. Of those who said they planned to make the move to a shorter work week, 50% said the policy would become effective in 2023, 42% in 2024, and 8% said the move would be made in 2025.
Employers who offer a four-day work week have seen some major benefits, the survey also found. Eighty-four percent said the four-day work week has helped the company compete for top talent, and 88% said the move “positively impacted profitability.”
“Our team members are more motivated, energized, and happier in both their personal and professional lives,” Max Shek, founder of nerDigital, told ResumeBuilder.com. “This positive mindset has translated into increased productivity and higher-quality work.”
The survey also found that one in 10 employees moving to a 4-day work week expect to see salary reductions related to the lower number of working hours. “The number of hours employees work per week is likely to stay the same according to 37% of business leaders. Additionally, 38% say total hours will decrease, while 25% say there will be an increase,” the survey notes.
“Of those who say the number of hours will decrease, 30% say it’s likely employee salaries will be reduced, and 73% say it’s likely paid time off will be reduced.”
Successful trials of the four-day work week have taken place in many countries, including the U.S. and Canada, Iceland, and New Zealand, with many companies continuing to use the four-day week model at the conclusion of the trial due to positive results.
Other studies have shown four-day work weeks to contribute to less anxiety, stress, and burnout while maintaining or improving employee productivity and profits of a company.
And what are employees doing with that extra day off work? Most are using the time to catch up on some much-needed sleep.
To read the full survey results, visit ResumeBuilder.com.
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