13 Ways To Justify Having a 4-Day Work Week
Here’s something to ask yourself: if there is a way for your company to achieve the same weekly result in fewer working days, would you go for it? CNBC reports a four-day workweek experiment is currently underway involving the nonprofit organization 4 Day Week Global, the University of Oxford, and 38 companies from both the U.S. and Canada.
Some ways to justify having a 4-day work week include reduced costs, increased employee and customer satisfaction, lowered environmental impact, reduced absenteeism, boosted retention rates, increased productivity, and potentially even a boost in revenue.
In this article, I’ll be going through all the different advantages that this flexible work arrangement offers.
1. It Will Reduce Your Costs
The most obvious reason to consider a four-day workweek is its significant impact on reducing overhead expenses.
The most straightforward computation is to deduct 20% from your weekly costs. In their 2020 report, the U.S. Energy Information Association states that the average monthly consumption of a commercial establishment is around 5,700 kilowatts per hour, costing about $600 per month. This means you can save $120 monthly or $1440 annually on electricity alone.
Additionally, you should also consider the economic benefits of the other advantages I will feature below. For instance, increased job satisfaction and decreased absenteeism can lead to lower employee turnover costs and unnecessary understaffing expenses.
Finally, other expenses can be easily overlooked. One less weekday will also mean fewer office supplies being consumed and fewer days where janitorial services will be required.
2. It Will Be More Economical for Your Employees
Business owners are not the only ones who will enjoy increased savings. Your employees will experience a reduction in their general expenses as well. Fewer work days mean lower transportation, food, and clothing expenses.
Don’t even get me started on coffee. Did you know that an average U.S. employee spends around a thousand dollars annually for their daily caffeine fix?
Other costs also include daycare and pet care. According to the Lending Tree, child care costs can take up 20% of an average U.S. employee’s annual earnings. The rising pet sitting costs are also nothing to laugh about. A quick 15-minute visit can cost pet parents around $20 if you opt for a hobby sitter. Hiring a professional pet sitter will cost even more.
It’s safe to say that one less work day per week is economical for both business owners and their employees.
3. It Will Decrease Employee Burnout
One of the most pressing problems that U.S. employees experience is burnout. According to the 2021 American Psychological Association Work and Well-being Survey, 79% of their respondents reported experiencing work-related stress.
The negative consequences include lack of energy and motivation, cognitive weariness, and emotional exhaustion, to name a few.
It’s one of the leading factors that led to the Great Resignation, a phenomenon of heightened resignation rates across all industries and states. This wave is said to have started last year and is still projected to continue, even amidst rising living costs.
Fortunately, a three-day weekend can offer the breather that your employees deserve. At the very least, it will give them more time to better prepare for the stresses of each upcoming week.
4. It Will Make Your Employees Healthier
As I’ve pointed out above, a three-day weekend can significantly decrease an employee’s stress levels. That in itself can already have a notable impact on one’s physical and mental health.
Our bodies release a hormone called cortisol whenever we are subjected to stress. While it does serve some beneficial functions, its constant release can cause long-term health issues, including decreased immunity, weight gain, sleep dysfunction, ulcers, and heart disease, to name a few.
Moreover, it’s important to highlight that an additional day off can decrease physical exhaustion, increase the time your employees can dedicate to their personal needs, and provide more opportunities to schedule medical appointments.
5. It’s Better for the Environment
There are multiple reasons why having a four-day work week is good for the environment. Here are some of them:
The company will consume less water and electricity. As I have pointed out earlier, offices that operate four days a week can reduce their energy consumption by at least 20%. The same applies to water consumption for cleaning or even drinking.
There will be decreased paper printing. A four-day work week can mean one less day for an employee to consume office supplies per week. This includes paper and ink.
Fewer people commuting to work will minimize their carbon footprint. Regardless if an employee chooses to drive to work or use public transportation, the fact is that his commute will still generate carbon emissions.
More extended weekends can encourage low-carbon activities. Having more free time will encourage employees to rest and bond with their loved ones at home. At the very least, it can minimize the “guilt” that drives employees to “make it up” to their families with high-carbon activities such as shopping and traveling.
6. It Will Increase Job Satisfaction
Indeed, job satisfaction can vary from person to person, but we can probably all agree that having a better work-life balance plays a crucial role in being content with your arrangement.
Fortunately, a more flexible working arrangement can provide that. Through a four-day work week, employees can enjoy more time to dedicate to their passions, loved ones, and the other things that matter to them besides their work. Some can even put that time towards educational pursuits.
Aside from the increased personal time, a job promoting good physical and mental health will surely boost employee morale and satisfaction levels.
7. It Will Reduce Absenteeism
There are many factors that can lead to absenteeism. However, personal illness and family issues seem to be the main culprits, according to a paper published by the International Business & Economics Research Journal. Sadly, these issues can impact employee morale and job satisfaction too.
The employees are not the only ones taking a hit. After all, businesses can suffer from both the direct and indirect costs of absenteeism. The productivity loss that a company can experience from being understaffed frequently can quickly accumulate and impact the bottom line.
The key lies in giving employees a better chance to deal with health and personal issues without disrupting productivity. Having a three-day weekend can help with that.
8. It Will Boost Your Retention Rates
Employee retention is a critical aspect of any business. After all, experienced employees ensure that a company’s productivity is always on point. Let’s face it. It does take a while for any new hire to get used to their position.
Furthermore, a high employee turnover has its costs. Recruitment, onboarding, and training all require a significant investment.
Fortunately, there are various employee retention strategies that you can implement as a business owner. I recommend considering a transition towards a four-day workweek for the multiple benefits it offers. Any of the points I have featured in this list can work towards a better retention rate.
9. It Will Benefit Your Recruitment
A four-day work week can improve your company’s retention rate, making it more appealing for those who have yet to join your organization.
A four-day work week can potentially decrease the resources you have to spend on recruitment. Think of it as a magnet that naturally attracts top talent to your company’s doorstep. In fact, a recent statistical report points out that over 30% of U.S. employees are willing to take a slight pay cut if it means having to work one day less per week.
I still recommend keeping your offers competitive to give your recruitment efforts an edge over five-day work week companies. Keep in mind that the purpose of transitioning to a four-day work week is to achieve the same results as a traditional setup. Its goal is to improve your employees’ efficiency through better working conditions.
10. It Will Increase the Quality of Your Talent
You don’t always have to recruit new employees to improve the quality of your talent. Sometimes, giving your employees more time to hone their skills is enough.
I’m not only referring to the training programs you offer at work. Giving your employees longer weekends encourages them to pursue further educational, professional, and personal development.
Regardless of what their efforts yield, it will still translate to better work performance. Even learning a new hobby can indirectly enrich skills that are applicable at work. For instance, painting can improve a person’s creativity, concentration, and time management skills.
11. It Can Increase Productivity
Here’s a common misconception: a four-day work week will result in a drastic drop in productivity. It’s a valid assumption since it will clearly reduce your hours of operation. However, have you ever stopped to consider how many hours an average employee actually works?
How many hours do employees waste when they’re burnt out and bogged down with stress? How about those days when they’d have to miss work to attend to health and personal concerns?
On the other hand, how many hours can you save when your employees are happy, healthy, and inspired?
Time is just one of the many factors that influence productivity. Focus, mental clarity, motivation, and energy levels should also be considered.
12. It Can Increase Overall Customer Satisfaction
Even the four-day work week isn’t perfect. As with other strategies and setups, it has its own strengths and faults. One legitimate concern is how your customers will react.
After all, providing an excellent customer experience requires 24/7 accessibility and support. Even five-day companies struggle to meet customer expectations, so how can a four-day company compete with that?
This will all boil down to proper implementation. For instance, rotating shifts will ensure that there’s always someone available to deal with customer concerns. Various digital platforms can help improve the quality of your customer service, regardless of how many days your employees work per week.
What’s more important is a change in perspective. Instead of focusing on the challenges that a four-day work week can potentially cause, it would be better to consider the benefits it will likely bring, particularly when increasing overall customer satisfaction.
Here are just some points to consider:
Happy and healthy employees are better equipped to deal with customer concerns. This is especially true for those requiring more patience, understanding, and empathy.
Well-rested employees are less prone to committing errors. This can even result in a significant decrease in customer complaints and returns.
Your employees will seem more genuine to customers. Some businesses openly require their employees to promote the brand as part of their protocol. Happy and proud employees don’t need to be asked twice. They will surely do so willingly and probably without even needing to be asked. I assure you. Your customers will recognize the sincerity.
Lastly, do not underestimate the appreciation and understanding customers give to companies that treat their employees well. It can undoubtedly reflect your company in a positive light.
13. It Can Boost Revenue
Finally, having a four-day work week can boost revenue. Every aspect of this list can, directly and indirectly, increase your bottom line.
The resources that you’re able to save from the fewer work days can be spent elsewhere. The increased productivity and work efficiency will improve the different areas of your business: from product development and manufacturing to marketing and sales.
As your employees get more skilled and talented, they’ll also be able to deal with challenges more efficiently and develop creative strategies that can enhance your business operations and improve ROI.
With happy employees come happier customers. Aside from gaining new customers and reinforcing consumer loyalty, you’ll also be able to minimize losses resulting from employee errors, customer complaints, and returns.
Once your business has maximized the benefits that a four-day work week provides (including a marked improvement in the quality of your products and services), it’ll be easier for you to increase your sales, upsells, and price.
Indeed, a four-day work week offers many opportunities to generate profit. More importantly, I highly recommend it because it’s a triple win. It’s a win for your business, your employees, and your customers.
Sources
4 Day Week Global: White Paper 2019, Flexible Working Arrangements
Owl Labs: Why You Should Try a 4-Day Workweek (+ How to Pitch It)
The Abacus Blog: Here’s How Much a 4-Day Work Week Saves On Business Expenses
U.S. Energy Information Association: 2020 Average Monthly Bill - Commercial
EDays: What is Understaffing and How it Can Damage Your Business
Longevity: A Four-Day Work Week Is Better For You, Your Company and The Environment
American Psychological Association: Burnout and stress are everywhere
CNBC: The ‘Great Resignation’ is altering the workforce dynamic — maybe for good
CNBC: Is a 4-day workweek the answer to employee burnout? Most American workers say yes
Research Gate: Absenteeism Problems And Costs: Causes, Effects And Cures
Qualtrics: Most U.S. Employees Want a Four-day Work Week Even if it Means Working Longer Hours
Recruiter: Could a 4-Day Workweek Make Your Firm More Attractive to Talent?
Owl Labs: Why You Should Try a 4-Day Workweek (+ How to Pitch It)
My Customer: Would a four-day week improve or impair customer service?
Business News Daily: How Much Does It Cost You to Go to Work?
Buffer: Is Remote Work Greener? We Calculated Buffer’s Carbon Footprint to Find Out
Columbia Climate School: The 35 Easiest Ways to Reduce Your Carbon Footprint