With the pandemic fading in the rearview mirror, it's time to assess some of the fallout. For the purposes of this article, we're going to focus on recent proposals that we should permanently shift to the four-day work week. It's an idea that's been kicking around for decades but only now gathered steam as two years of disrupted work schedules seemed to open the door to alternatives to the traditional five-day week.

Will the four-day work week catch on and become the standard model of work? In this article, we will assess some of the pros and cons which are likely to influence its staying power.

The Benefits of a Four-Day Work Week

There are a few different reasons why many expect a four-day work week to be beneficial. First, it might allow people some more time for rest and self-care. This could lead to improved physical and mental health, therefore contributing to better overall well-being. Additionally, four-day work weeks would give people more time to spend with family and friends, which is important for maintaining strong relationships. Finally, four-day work weeks might encourage less traffic and pollution, as fewer people would be commuting to work on a daily basis. However, it is worth remembering that there are already other models of work which provide some or all of these solutions, such as flexible hours and remote & hybrid working.

An Idea Whose Time Has Come?

In June, over 70 companies (comprised of 3,300+ employees) began participating in a trial of the four-day work week that will run until the end of the year. And yet, here in 2022 some of the most odious realities of everyday life are empty shelves, cancelled flights and delayed orders – issues which are often the result of a lack of available workers. Businesses in nearly every sector are having a hard time filling positions and this is causing delays in design, manufacturing, delivery and elsewhere. This being the case should give us pause; is now really an ideal time to start moving towards working less?

Below are some other factors working against the adoption of the four-day work week:

The Efficiency Problem

In order for a business to switch to a four-day work week, they need to be 20% more efficient. Otherwise, the only result of less work will be less money. Productivity gains require cutting waste and inefficiency. But if 20% of your current work processes are wasteful and inefficient, perhaps the first course of action should be to find the source of these issues and seek to proactively create a more efficient operation.

Giving Way to Competitors

Should the four-day work week continue to draw interest, and you choose to adopt it for your own company, there is a risk of giving others in your field a competitive edge. This is simply because any competitors who retain the five-day working model will still be available to serve customers with their full workforce at times when yours cannot. Unless the four-day work week becomes very popular very quickly, this is an unfortunate but inevitable downside to being an early adopter.

A Ripple Effect

Working less may seem an appealing idea, but one thing to consider is that all aspects of the economy are interrelated. Fewer people showing up for work means less need for taxi drivers, restaurant workers, office cleaners, construction workers and others. This ripple effect was a big problem during the pandemic, even outside of the official lockdowns that took place, as a large proportion of society was still staying at home and working from home.

Conclusion

While it is possible that a four-day work week could bring about some positive changes in our lives, there are also many factors to consider which make this model less than ideal. We will continue to keep an eye on this topic, and report on any major shifts that make a four-day week any more or less viable than it seems today.

Read through more of our insights and advice on our blog, and if you're in need of recruitment services in accounting, finance and bookkeeping, get in touch with us by calling +44 (0)20 8663 6699 or by emailing team@jmfassociates.co.uk.