Four Day Week – Pilots
Last week, as part of my CA continuing education, the Focus on Management Special Interest Group had a presentation from Charlotte Lockhart, Founder and Managing Director of 4 Day Week Global.
4 Day Week Global is a not-for-profit community established by Andrew Barnes and Charlotte Lockhart to provide a platform for like-minded people who are interested in supporting the idea of the 4 day week as a part of the future of work. They are running 6-month pilots across the world, including in Japan and the USA. Their philosophy is based on an 80%-100%-100% rule being:
- 80% of current working hours.
- 100% of current wages.
- 100% productivity.
Employees are given flexibility on how they want to use their 20% reduction in hours.
To date, while the results of the pilots are still being analysed, they have confirmed the following:
- Improved employee wellbeing resulting in:
- Reduced employee fatigue.
- Reduced absenteeism.
- Improved staff retention.
- Resulting in reduced recruitment costs.
- While the overall preference is for employees to only work 4 days per week the pilots have indicated the following:
- Preferred full days off are Wednesdays and Fridays.
- Some employees prefer to take 2 half days.
- Some employees prefer to work 5 days but work a shorter working day to allow for:
- Dropping off and picking up their children from work thereby reducing the stresses and cost of finding and employing child minders.
- Avoiding peak hour traffic.
4 Day Week Global is working with the EMA to push for a reduced working week in New Zealand based on improved productivity. They are also planning to contact and discuss the 4-day working week with all of the major political parties to see if they can make it an election issue.
For more information on this subject please go to this link Day Week Global as it is very likely to become an election issue later in the year.
2 Minute Health Check
In addition to the above, if you think you are doing too many hours in your business or are generally not happy with the way your business is performing, why not take my quick 2 minute health check https://intotheblue.co.nz/business-health-check/ or contact me at john@intotheblue.co.nz or (021) 625-871.
For more information on creating or improving a business model please call John on (021) 625-871, and further more information please visit Into the Blue.
