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Priorities are shifting among employees as a new survey showed almost half of professionals said they would be willing to trade in work socials and relationships with colleagues in favour of a shorter working week.
In a survey among 2,000 professionals globally, Robert Walters found that 46 per cent of the respondents would be willing to sacrifice socialisation and relationships with colleagues for the implementation of a four-day work week.
Only 16 per cent of professionals expressed a preference for a 10–15 per cent pay increase instead of a reduced work week scheme, indicating that office-based soft perks like work socials or complimentary meals have lost their appeal compared to the prospect of fewer working days.
Meanwhile, only 2 per cent of respondents indicated a preference for these perks over a shorter work week.
Findings also showed a four-day work week emerged as the most desirable perk on a job description for 44 per cent of employees, followed by the ability to work from anywhere (28 per cent).
Notably, nearly nine in 10 professionals or 89 per cent across the world are keen for their employer to implement a four-day work week, indicating stronger demand for the scheme as more organisations trial it in the workplace.
“With higher awareness of wellbeing and work-life balance, some companies had trialed a 4.5 work week, while some implemented an ‘alternative four-day work-week’ or ‘summer Friday off’ arrangement,” John Mullally, managing director of Robert Walters Hong Kong said.
He added the global momentum for four-day work week schemes has been growing, evident through large-scale pilot tests conducted in the UK, Australia, New Zealand, and North America.
In the Land Down Under, employers implementing a four-day work week (4DWW) scheme interviewed by Swinburne University of Technology researchers gave the model a 9.2 score out of 10, highlighting its benefits for retention, attraction, and productivity.
Is there a hidden cost to four-day work weeks?
While Mr Mullally acknowledged it’s premature to fully see the long-term impact of such measures, he noted companies should be mindful that “poor company culture comes at a price”.
With half of professionals who would like a four-day week expecting their full pay to remain the same, Mr Mullally noted debates have started on whether the post-pandemic workforce are “the most entitled yet” — with fewer professionals feeling responsibility for the financial health or stability of their employer.
“We believe that workplaces should be held accountable for their employees’ wellbeing, but we also recognise that professionals have the responsibility to contribute to the success of a business, especially in this current period of economic uncertainty,” he added.
Earlier this year, numerous companies and approximately 2,900 employees engaged in experiments with a four-day working week across the UK, Europe, and North America. The conclusion of several trials has been widely regarded as a resounding success.
But the recruitment consultancy firm noted it is crucial to consider the potential negative consequences that may arise from altering the number of working days.
According to the trial result in the UK, 49 per cent of the employees in this experiment reported no change in the typical amount of overtime they do — a further 17 per cent reported doing more overtime.
Meanwhile, 22 per cent of those in the study reported an increase in burnout symptoms, while only 2 per cent stated workload had decreased.
The firm emphasises the importance of presenting a balanced perspective on the trial results, as it aids in comprehending “what does and doesn’t work”.
“There is a place for the four-day working week in business but maybe it’s not the silver bullet to increase productivity and improved wellbeing, as first thought,” it concluded.
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