Flexible hours, working from home, and hybrid arrangements have all emerged as new work concepts over the last few years. However, these policies are relatively vague and do not lay out exactly how professionals will work.
Companies have started experimenting with these types of work arrangements to protect themselves from the ongoing Great Resignation, while providing employees with a healthy work-life balance that could have a positive impact on their operations.
But under the umbrella of flexibility is one growing trend that could redefine the future of work: the four-day work week.
For instance, Britain’s Atom Bank adopted this shorter work model for the majority of its employees last month, which included dropping their work hours from 37.5 hours to 34 hours per week.
While the four-day work week certainly is not a new concept, this appears to be the first time it could take hold in a big way as employees get a say in their preferences.
Not only is this clearly beneficial for employees, but studies show that businesses can gain a lot too.
In fact, a study from research organization Autonomy and Iceland’s Association for Sustainability and Democracy showed that productivity remained the same when 2,5000 employees worked a 35 to 36 hour work week without a reduction in pay between 2015 and 2019.