From today’s Entrepreneur:
The four-day workweek concept isn’t new. New Zealand and many European countries have proven it successful over recent years. Yet, with the shift to hybrid work and the need for increased flexibility, more companies are rethinking the work week. One study showed that 40% of companies have implemented or are beginning to implement a four-day workweek.
Having managed my diversity speaking business for eight years, my organization is trying the four-day workweek in 2023. We studied the benefits, discussed our preferences and decided as a team to commit to the shift. As with any change, we anticipate there will be challenges short-term and are hopeful about the long-term results.
Research shows the four-day workweek boosts productivity, improves retention and increases access to diverse talent. This work schedule is more attractive to those that are caregivers, younger employees, those from different socioeconomic classes and those with disabilities.
According to Four-Day Week, organizations with successful implementation take into account the differing preferences of their employees with the flexibility to co-create their work schedule. LinkedIn’s Workforce Confidence survey, which surveyed 19,000 workers in 2022, found that for 54% of people, the four-day workweek is among their top three priorities when it comes to workplace benefits. Support is especially strong for the younger generation of workers, with 62% of both millennials and Gen Z supporting the shift. The four-day week was also more popular among women (57%) than among men (51%).
Read the complete story here.