Hey Compliance Warriors!
Some companies have found that they can be more successful under this 4-Day work week business model. Read on to see what some of the benefits are…
Article via: hrdailyadvisor.blr.com
“This success has got companies around the world wondering if this is an anomaly or whether they too might find some benefit in changing the way employees are expected to work.
Here are some of the potential benefits to switching to this model:
- It may reduce the amount of time employees need to take off for personal needs. Many appointments that now require PTO could be handled on the weekday the employee has off, which is more convenient for everyone as it’s less disruptive. Employees will be able to use their PTO for other things, and employers may benefit from fewer miscellaneous absences. This could reduce employee stress because they have more time to handle issues that arise.
- Employees may be more able to see a doctor if they’re feeling ill, because they’ve got time during normal office hours to do so—meaning they won’t have to make the choice to sacrifice pay in order to be treated. This can help the employee get better faster and reduce the chance the employee will spread an illness in the workplace.
- Productivity may increase. Counter-intuitively, employers who have tried reducing the workweek are finding that productivity may go up with fewer total hours worked. This is in part because employees see the limited time to get work done and place a greater urgency on productivity day-to-day. Less time is wasted when there is less time available in the week to complete a task. In other words, even though you’re paying employees the same amount to work fewer hours, you could be getting even more in return than before the shift.
- Depending on how it is implemented, a shorter work week may reduce costs for the employer, such as reduced electricity costs.
- Employees may be more relaxed, less stressed, and less likely to suffer burnout if they get more time away from the workplace each week. This could translate to better productivity while they’re at work. Less stress can also mean teams can work better together and be less likely to have interpersonal issues. Employees may be more apt to be on time, and less likely to take long lunches or leave early.
- Employees may have more time for activities like exercise. This can positively impact both physical and mental wellbeing, which is good for both the employee and the employer.
- Employees also have more time to get misc. household chores done on that extra day off, which frees up weekend time for more pleasurable pursuits. This is a big reason why employee stress levels are impacted by this change.
- It may be able to be used as a recruiting tool. After all, a lot of employees would be quite happy with the idea of 3-day weekends every week. This could be a competitive advantage when it comes to securing top talent.
- Four-day workweeks could also be a major factor in employee retention. Retention is a big issue right now; with low unemployment levels, employers are looking for ways to keep top talent on board. Having the flexibility of a four-day work week may be that much more difficult to give up and may mean fewer employees leave.
The idea is already in alignment with the trend of evaluating employees based on output rather than hours worked. It may not be as radical as it seems. Additionally, most employers are aware, at some level, that employees waste a lot of time on the job now—time that they’re getting paid for. It may make more sense to reduce the hours worked and get more productivity out of each day with a more refreshed workforce.”
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Until Next Time, Be Audit-Secure!