There’s no getting away from the cultural shift disrupting US workplaces. Employees are railing against hustle culture, leading to a rise in push back trends like ‘quiet vacationing’ and ‘coffee badging’. Meanwhile, burnout continues to cause employers pain. It’s still hard to attract top talent, and it’s even harder to retain.
Could the four-day workweek be the panacea leaders are searching for?
Rise of the four-day week
While the four-day workweek has been gaining traction in Europe for a few years, US bosses are also starting to seriously consider restructuring the working week in this way. A KPMG survey of US CEOs revealed nearly a third are exploring schedule shifts to alternative models like the four-day week. Even Bill Gates has predicted a trend towards condensed working patterns.
Globally, a growing number of companies are experimenting with the model. In the UK, campaigners are preparing a pilot project to launch in November 2024. This approach is focused on the 100:80:100 model, where staff receive 100% of their pay for 80% of their time while delivering 100% productivity. It follows evidence that condensing hours into four days is simply not practical for everyone and can result in ridiculously long and physically exhausting working days.
Others are going even further. Belgium was the first country in Europe to legislate for a four-day week. The new law came into force in November 2023, allowing employees to decide whether to work four or five days a week.
A growing body of evidence suggests a four-day workweek can boost productivity, employee morale, and work-life balance.
But what do job seekers actually think?
With fierce competition for candidates in certain sectors, it’s more important than ever to be aware of what candidates are looking for to ensure your jobs stand out for all the right reasons.
A CV-Library survey showed 83% of job seekers want the option of a four-day workweek, with almost half of respondents (46%) saying it’s very important that a company offers the option to work a four-day workweek.
The results are clear: the four-day workweek is a highly desirable perk and fast becoming an important part of the job-hunting process.
Key findings
- High importance: Nearly half of all respondents (46%) consider the option of a four-day workweek to be “very important” when considering a job, and a further 37% say it’s “somewhat important”.
- Longer days or longer week? A compelling 74% of candidates would prefer a longer four-day workweek over a traditional five-day schedule, suggesting a willingness to trade longer hours for an extra day off.
- Productivity boost: The majority of respondents (68%) believe a four-day workweek would improve productivity. This aligns with findings from various pilot programmes that have shown increased employee engagement and efficiency.
- Positive impact on culture: Over 70% of respondents think a four-day workweek would enhance company culture. It would clearly improve work-life balance for many people, which is likely the main attraction.
- Friday is a firm favourite: If given the choice, the vast majority (66%) of respondents would opt for Friday as their day off. Tuesday and Thursday were the least popular days.
Implications for Hiring Managers
These findings highlight the growing importance of work-life balance and flexibility in attracting and retaining top talent. Here are some key takeaways for hiring managers:
- Four-day workweek as a recruiting tool: Offering a four-day workweek can give your company a competitive edge and be a key differentiator in a tight labour market. It can be a powerful tool to attract top talent, especially among Gen Z who prioritize work-life balance.
- Understand candidate preferences: While Friday is the most popular choice for a day off, be prepared to offer flexibility to accommodate different needs. Many companies will want to avoid all staff being unavailable on the same day too.
- Focus on productivity: Communicate clearly the expectations for productivity during a four-day workweek. The data suggests that employees are confident in their ability to maintain or even improve output.
- Invest in company culture: A four-day workweek can be a catalyst for a stronger company culture. Focus on building trust, autonomy, and collaboration among your team.
By aligning your company with the growing trend of four-day workweeks, you can enhance employee satisfaction and productivity. Careful planning is essential, and while not suitable for all businesses, the survey highlights the importance of offering flexible work arrangements.
Data taken from CV-Library’s candidate survey, August 2024, 2,378 respondents.