A four-day work week: the pros and cons

6 minute read
A Four Day Work Week The Pros And Cons

over 1 year ago

​​The past 16 months have given organisations time to consider how they operate, including the number of hours and days they require employees to work.

It is no secret that the coronavirus pandemic has transformed the way we work in the UK, with many businesses having to abandon the office to work from home almost overnight. As well as this, over the last year we have seen the introduction of the Coronavirus Job Retention Scheme and the challenge of juggling home schooling, leaving many employers no choice but to allow for flexible working arrangements.

With this sudden shift to working from home and an increase in hybrid working, we have seen more and more conversations around work-life balance and businesses questioning their ‘typical working week’.

The five-day work week has become a cultural norm, especially in the UK, but after more than a year of change, is it time to rethink this approach and, if we do, would businesses continue to succeed? Or would productivity take a hit?

We asked our LinkedIn followers: “Would you consider changing your company’s working hours to a four-day working week?”. With 919 votes, 50% said yes, but with the same hours, 33% said yes but with reduced hours, 12% said no, and 6% said they would consider it, but not at this time.

With 83% of those surveyed in favour of a four-day week, there are many considerations companies must make when deciding if this is a course of action they would be willing to take.

What is the case for a four-day work week?

A four-day work week can be defined in two ways; the first is when an employee compresses their full-time hours (typically 35 hours) over a four-day period. And the second is reducing an employee’s hours (typically to 28 hours) over four days, so they are then able to have a three-day weekend.

Many argue that, while the five-day work week used to be effective in the 19th century, it no longer suits the needs of the modern-day professional.

With the evolution of technology, some day-to-day tasks are significantly more time-efficient, and with an uplift in office-based roles, we are seeing an argument that longer work hours do not necessarily mean staff are more productive.

Notably, over the last couple of years, many countries across the globe including Japan, New Zealand, Spain - and most recently Iceland - have trialled the four-day work week to research the effect it has on its employees.

Microsoft trialled four-day weeks in its Japanese offices and found the shortened work week led to more efficient meetings, happier workers and boosted productivity by a staggering 40%. Similarly, Iceland undertook a trial which monitored employees working reduced hours over a variety of public sector workplaces and found it to be an overall success, with 86% of the country's workforce now on a shorter work week for the same pay.

In an article for the BBC, Will Stronge,  Director of Research at four-day week consultancy Autonomy, said: “It shows that the public sector is ripe for being a pioneer of shorter working weeks - and lessons can be learned for other governments.”

In the UK, many businesses have also trialled the four-day work week, and some have even made the permanent switch. Gloucestershire-based PR agency Radioactive Public Relations trialled a four-day week for six months and found the business was even more profitable and employees’ sickness days were halved.

What are the advantages of a four-day working week?

Large and small-sized companies trialling the concept have created an evidence-base of the benefits a four-day working week could bring to your organisation.

An increase in productivity levels

Research has shown that working fewer hours boosts productivity levels. With employees spending less time at work, they can feel happier and more fulfilled, leading to them focusing on their job when in the workplace.

A large New Zealand business, Perpetual Guardian, trialled a four-day work week and found not only a 20% rise in productivity, but work-life balance scores increased from 54% to 78%.

Environmental and cost-saving benefits

Shortening your working week means that employees do not need to commute as much, reducing their carbon footprint.

As we have seen throughout the pandemic, those businesses with employees working on the same four days can save on overheads and in some cases even be eligible for tax relief.

Happier employees and fewer absences

According to mental health charity Mind, one in six people report experiencing a common mental health problem in any given week in England, and one in five agreed that they have called in sick to avoid work.

Four-day work weeks leave employees more time to focus on personal development or spend time with loved ones. This will not only increase employees’ happiness, but can contribute to fewer burnouts, leaving them to be more focused and happier in their role.

Better recruitment and retention

The increase of hybrid working and remote working during the pandemic has led to employees wanting greater flexibility from their employers.

The CIPD reported that the majority of people think flexible working is positive for their quality of life, and 30% of people think it positively affects their mental health. So, offering potential new and existing employees a flexible working pattern is a fantastic way of attracting and retaining talented professionals.

What are the disadvantages of a four-day working week?

Whilst there are benefits to a four-day work week, there are disadvantages too:

"A four-day work week wouldn’t work practically because of the need to cover more shifts during a time where we are already facing staff shortages."

Not all industries can participate

Unfortunately, the four-day working week model does not suit every sector. Some businesses or professions require a 24/7 presence which would make a shortened work week unpractical and, in some cases, delay work - creating longer lead times.

A nurse who wanted to remain anonymous expressed her reservations about a four-day week in the healthcare sector, saying: “As an A&E nurse a four-day working week wouldn’t work practically for us. Currently, we work long 12+ hour shifts in order to have four days off, which I prefer as it provides more of a work-life balance. However, while I know a four-day working week would be better for some of my colleagues due to childcare, the shorter, more regular shifts we would have to do on a four-day week wouldn’t work. It would mean the need to cover more shifts during a time where we are already facing staff shortages.”

Unutilised labour

A four-day week is not for everyone; some employees prefer the structure of a five-day working week or would prefer to put in more hours than a four-day working week offers.

Likewise, some professions have tasks which simply take more time than others, which would lead to paying more in overtime or drafting in further staff to make up the shortfall (as happened in healthcare for the Icelandic study), which can ultimately become expensive.

Final thoughts: should your business adopt the four-day work week?

Although the shortened work week has taken off in many European countries and been successful for many UK businesses, it is an extreme approach for a company to take and requires a shift in mindset from the employer and employees for it to work effectively, so it may not be for everyone.

While a more flexible approach on working hours is now expected from employees, a less disruptive, more gradual process would be adopting a hybrid or flexible working policy instead.

Likewise, as mentioned above, the four-day model may not work for all sectors. What studies and data have proven is that organisations who are putting more focus on maintaining staff wellbeing, engagement, morale, and productivity are reaping the benefits.

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How to create an effective LinkedIn profile
8 minute read
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How to create an effective LinkedIn profile

​LinkedIn is an extremely powerful tool for networking, showcasing your experience and building your reputation. There are almost a billion members on the platform, and 58 million registered companies. Let’s face it, it’s a go-to place for recruiters around the world.LinkedIn has gone from a formal, corporate digital space to a platform used by many to share their life’s work and more. It’s all about crafting a personal brand– something that shows off your skills, experience and achievements in the most compelling, professional way.With scope for so much more than a dry CV, LinkedIn provides the space to sell your skills and talents, allowing peers and potential employers a 3D view. It might even be their first impression of you – drawing their interest in what you have to offer – so it’s vital to consider the presentation of your ‘shopfront’ before overhauling your profile.If your CV is awash with professional qualifications and abbreviations, from CA to ACCA, LinkedIn is the perfect place to illustrate how you’ve put them to use.LinkedIn profile tips for successStart with a professional profile photo: Profile pictures on any social media account are a personal choice – not everyone wants a photographic presence, and it is unlikely to make any difference to the role of an accountancy professional. If you do choose a photo, opt for a clear and professional headshot, preferably in business attire, with a neutral background. Remember to smile!Add a headline: Your headline should be concise and convey your profession and areas of expertise. Use keywords to boost visibility of your profile in searches – which, if in the accountancy industry, might be:Chief Financial Officer: Scale-up tech sector specialistFinance Director | Web based servicesFinancial Controller: Helping deliver outstanding financial managementCertified Public Accountant | Serving the financial services industryCertified Public Accountant specialising in taxation and financial reportingWrite a summary that highlights your strengths: You have a maximum of 2,000 characters (around 300-500 words) to create your LinkedIn summary. Try to aim for roughly three sentences to outline your accountancy skills, experience, strengths and career achievements. It should be written from an objective point of view and focus on how you can bring value to a potential employer. Include relevant keywords. It might say: ‘Creative and passionate, results-driven individual that helps companies control and manage their finances.’LinkedIn uses an algorithm that means your profile may rank higher in searches than others with the same job – it’s all about the language you use to stand out from the crowd, so try to avoid overused phrases. Using a free keyword search tool can help you discover what people are searching for the most.Customise your URL: LinkedIn allows you to personalise your URL, so you can remove the numbers that may currently be within it, to make it easier to share. When you join LinkedIn, you’ll usually be assigned a URL that contains parts of your first and last name along with a bunch of numbers. Where possible, remove the numbers and make your URL your full first and last name. If this is taken, try adding a middle initial or the industry you work in. Remember to update your new LinkedIn URL on your websites, business cards, and other social media networks.Consider including your industry and location: Adding your location to your profile boosts your visibility in searches by up to 23 times and helps potential connections/recruiters find you. When recruiters go looking for new talent, location is a key factor – it helps the hiring manager narrow their search and increases your chances of being found.Showcase your experience: List your past work experience in reverse chronological order, including your job title, company name, and role responsibilities. Highlight your accomplishments and achievements in each role.I would not tend to regurgitate your CV, but make sure you list your key achievements and use keywords that will ensure you are picked up in searches by prospective recruiters. 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It doesn’t matter how many connections you have on LinkedIn – even if you have only just created a profile it won’t take long to build them if you’re regularly engaged on the platform.Consider uploading your CV: While the platform acts as your CV, it is still possible to upload one to improve your chances of finding a suitable role but remember to keep it in sync with the information on LinkedIn. The two should work hand in hand. If you’re yet to enter the world of work, highlight any experience or hobbies that shows your financial acumen or ability to take responsibility in societies, clubs or casual work. Above all, don’t forget to remove any sensitive information.Make sure you are visible: You need to make sure that LinkedIn is working for you, and this can be changed and amended accordingly in your profile settings. Here you can see what's visible to the public on your profile and turn certain sections on and off. 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Teamwork leads to hiring success for Reed and Budapest financial firm
3 minute read

Teamwork leads to hiring success for Reed and Budapest financial firm

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Reed fills multiple vacancies for Lenovo Manufacturing Hungary Ltd
2 minute read

Reed fills multiple vacancies for Lenovo Manufacturing Hungary Ltd

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