Weekly Holiday – The Calls for A Four Day Workweek
Worker conditions are always something that can be improved on in the world, whether it’s compensation packages or higher wages. Although it seems like it’s never the case, worker morale and happiness is vital for the growth of a business into becoming a large corporation. Because of this, businesses are always exploring ways to improve worker morale to increase productivity while benefiting themselves, and one of these in recent years has been the shift to remote work during the pandemic.
These days, employees and businesses are now considering a four day workweek, and a new study from Britain has bolstered the popularity of this idea. 61 companies in Britain offered employees a four day workweek, and by the end of the study 56 of them elected to keep the new system due to the benefits the company reaped. Revenue was unchanged throughout the time period, staying with the average, which displayed zero change in productivity compared to the loss of productivity that was expected by those who opposed it. Most importantly, attrition decreased significantly as working conditions were more favorable for workers, a landmark statistic in this study. This comes during a time where we just experienced the Great Resignation, with many workers leaving their jobs in order to seek more favorable conditions. The four day workweek maximizes productivity while preventing overworking, an issue that many citizens in the United States face as the feeling of burnout creeps up on them. The policy has been brought up in the past in the United States, and although some businesses may be opposed to it, a four day workweek could be the future for countries throughout the globe too.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.