Transcript

How could a 4-Day Work Week change your life?

HOW COULD A 4-DAY WORK WEEK CHANGE YOUR LIFE? Economist John Maynard Keynes predicted in 1930 that tech advances would allow the average employee to work for only 15 hours a week by 2030. With only a limited time left to make that happen, the workforce continues to debate reducing work days from 5 to 4. Will it ever be implemented? Thumbs Up for 4-Day Work Week 57% of UK adults support implementing a 4-day Global support work week. 71% of UK adults believe the UK would be happier with a 4-day work week. 70% of American workers are disengaged from their jobs. $500 billion lost every year due to lost productivity. 42% of American workers would give up part of their salaries for more work flexibility. Health Benefits Better eating and exercising habits with more flexible time Reduced stress Fewer alcohol and Less stress-related high blood pressure and fewer mental cigarette dependencies as stress-coping mechanisms health issues Increased sleep time Improved cognition and productivity Family Life Productivity 50% increase in time with family = 3 days rather than 2 Employee empowerment through more free time and a feeling of control over lives and schedule Reduce work-home Efficiency increase through autonomy stress Less absences because of sickness Focus Limited work time = more people wanting to get things done more efficiently Quality time while at work Recruitment and Retention Full pay with fewer hours means more new employee interest and competition for the best talent Good morale keeps valuable employees longer Flexibility increases loyalty Alternative to Redundancies Reducing hours and pay could keep more people employed during difficult times Environment Reduced commuting means smaller carbon footprint Centre for Economic and Policy Research suggests that a worldwide change to fewer working hours could reduce future global warming by half by 2100. Reduced traffic congestion Thumbs Down for 4-Day Work Week Possible drawbacks without a "slowdown day" Work is intense during those fewer hours Longer days No slow down before the Without a reduction weekend in hours for essential services like government and health institutions, employees work longer days Possibly 8:00am to 7:00pm with an hour lunch break May result in further exhaustion and lost family time Vulnerability to criminals when going home from work after dark Physical strain When already working a standard day: ГЛ 44% 38% 62% 70% Of employees end workdays Of working parents say they don't have Have hand Have pain work-related with strained neck pain eyes sufficient time for their children Longer days could Effects on daycare, babysitters, school, and after-school services mean issues with childcare Later hours for everyone or lack of usable childcare for such employees Possible reduction in income 4 days could mean fewer hours Some employers may choose to keep previous full salaries due to increased productivity output Some employers may choose to reduce salaries by 20% for working 20% fewer hours regardless of productivity output Multiple jobs Reduced income might mean employees must find additional work, losing the extra, flexible time and possibly losing even more time to fulfill requirements for the additional job Out of sight, out of mind If some employees are not at the office, they may feel or actually be "out of the loop" of what is happening Some companies might try a rotating workweek Missing meetings Missing important decisions Missing emails and voicemails Offices open as normal, employees each work 4 days with a different 5th day off Does It Work? Global Success Australia Denmark • Average 33 hours per week Average 34 hours per week • Dropped from • Average $46,000 1983's 44 hours annual income per week • Minimum 5 weeks • Average $51,000 annual income paid vacation time annually Netherlands Norway, Sweden, and Finland Germany • 4-day work week • Average 29 hours per week • Fewer work hours • 86% of employed mothers • Work an average of 49 days fewer annually than the average have 34 or fewer hours • 6-hour days in Sweden and Finland • Average $47,000 • World's 4th largest annual income • Strong economies economy Business Success 40-hour work week DigitalRelevance 4-day 10-hour days, Monday through Thursday (Formerly Slingshot SEO), a marketing research firm Instituted in 2011 Extra day devoted to: Industry research Weekend getaways Household Family concerns Reportedly enhances daily productivity the other 4 days Treehouse A US online education company 32-hour 4-day work week Cuts time-wasting meetings and emails by using a message board Reportedly results in higher morale and successful recruitment 120% annual revenue growth More than 70,000 paying clients with only 70 full-time employees Belding, Michigan June 2014, city council voted to extend experiment of 4-day work week for most city employees City employees Originally implemented in August 2013 Business hours Monday-Thursday 7:00 am to 6:00 pm Generally positive feedback Offices busy during extended hours Citizens can do business without taking vacation time from their jobs Unsuccessful Examples South Korea Economics professor Robert Rudolf at Korea University studied effects from 1998 to 2008 • 5,000 Korean households • 5-point scale of satisfaction • Found no change in job or life satisfaction Reduced 6-day, 44-hour work week in 2004 Currently 5-day, 40-hour work week Utah • Four • In 2008, Utah was the first US state to institute 4-day work week for its 18,000 state employees. 10-hour days Results 70-85% of state employees approved of the 4-day schedule throughout the life of the change • Experiment meant to: Reduce utility costs by 20% by opening its 900 state Utility costs reduced by only 13% Employee leave time fell by 9% buildings fewer days Expected annual savings of $3 million was only $1 million Improve fuel savings by reducing Legislators and some businesses disapproved of state services being closed on Fridays commuting time • State mandate revoked in September 2011 SOURCES: businessinsider.com, fastcompany.com, theguardian.com, nytimes.com, qz.com, inquirer.net, aliazeera.com, thinkprogress.org, consumerismcommentary.com, huffingtonpost.com, payscale.com, cnn.com, dailynews.cc, digital.relevance.com, yougov.co.uk, linkedin.com, businessnewsdally.com, washingtonpost.com, tlnt.com, npr.org, fourhourworkweek.com, cbsnews.com, cіTRIX GOTOMeeting Online Meetings Made Easy gotomeeting.com.au

How could a 4-Day Work Week change your life?

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GoToMeeting Australia has put together a detailed infographic which builds out the case for a four-day week, highlighting the pros and cons. Many of us talk of working a 4-day week, but thinking,...

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