Is it time we all embraced the 4 day work week?
Description
Four days of work, 100 per cent of the pay — that might sound like a fantastic idea for employees. But there's a lot of benefit to a reduced work-week for employers as well, says professor John Trougakos. He joins the Executive Summary to talk about why a four day work week is better for employees, what it means for organizations, and how companies can actually make a shorter week work.
Show notes
[0:00 ] In February 2023, news broke that a wide-scale experiment that shortened the traditional five-day work week to four days – without an associated reduction in pay – was a success.
[0:50 ] 91 per cent of the participants in the experiment decided to continue, reporting that their employees were happier, more engaged and more productive.
[1:12 ] Meet John Trougakos, a professor of organizational behaviour and HR management at the University of Toronto. He’s an expert in employee well-being, productivity, and recovery, and he’s been studying four-day work weeks for years.
[1:44 ] His research is conclusive: to increase performance, companies need to give employees a break.
[1:52 ] So as companies look at their post-COVID office structure, what does this mean?
[2:27 ] How did we get to five days in the office, and has a four-day work week been tried before?
[3:08 ] Those previous attempts failed because they tried to compress 40 hours into just four days. In comparison, the latest attempts are experimenting with a 32-hour week, which might be why it succeeds now.
[3:55 ] Studies show that business leaders are increasingly on board.
[4:32 ] And the pandemic proved to be a massive change management experiment, showcasing that things can be done differently…so businesses are more open to trying something a little different.
[5:32 ] That’s probably important since employees want a shorter work week, especially as burnout continues to rise.
[6:24 ] Burnout is costing businesses billions each year.
[7:04 ] What is emotional exhaustion, and how does it manifest?
[8:22 ] Time off and breaks play a crucial role in emotional exhaustion and burnout recovery.
[9:52 ] So a four-day work week might be a great opportunity for businesses to give their employees time to properly recover. How do you go about implementing it.
[10:03 ] You have to talk to employees and don’t be afraid to seek outside help.
[10:46 ] Approach a four-day work week like a big change management project – it’s a great opportunity to find new efficiencies as well.
[11:58 ] And don’t forget to communicate – to everyone – how you’re going to pull it off.
[1:21 ] Avoid the pitfall of doing the work and not rewarding your employees.
[12:59 ] If a four-day work week doesn’t work for your company, consider alternatives that still give your employees a meaningful break.
[13:51 ] Companies are made up of people – they are your most important asset. So treat them well, and they will give back to you.
[14:37 ] “We don't want to just keep weighing people down, if you can find an opportunity to reward people for their efficiency and their productivity and their performance. People will give back more at the end of the day.”