How adopting a 4 day work week can help grow your business
A 4 day work week is good for business
Working less? How could that possibly mean that my business would grow? We’ve helped hundreds of businesses through their 4 day work week and have measured their success. What did we find? Indicators of business growth.
How does the 4 day work week help a business grow?
1. Retention of Staff
The 4 day work week can improve the retention rate of your staff. Past pilot programs have shown that the retention rate increases during the trial period.
In the South Africa trial, retention increased by 11% for the 6-month period. In fact, staff loved their 4 day week so much that 13% of them said that “no amount of money” would induce them to return to a 5 day week schedule, while over half of them said that they would require a 21-50% pay increase.
These figures are not unique to South Africa. For each of our trials we see the same pattern emerging - that one in 10 employees would never be able to go back to the 5 day week, having trialled the 4.
This shows a lot. Firstly, that they are able to get their work done in less time. Secondly, that the gift of the fifth day, the gift of time, is something so valuable they cannot put a number on it.
As an employer, you can give perks, you can give pay rises, but what if you could give something that you couldn’t even put a number on it - time?
How does the 4 day week improve staff retention?
This is what drives the 4 day week to improve retention. By improving retention you’re avoiding:
Hidden cost of burnout (80% of employees experienced burnout in 2021)
Loss of tribal knowledge (42% of the expertise to perform a job is only know by that employee) - there was a 57% decrease in the number of resignations in the UK 4 day week trial.
Cost of hiring new employees (replacing an employee could cost three to four times their salary) - the UK 4 day week pilot saw a 37% decrease in new hiring during the trial.
Cost of onboarding and training new employees (an average of three months could be lost to onboarding activities while studies show that it takes two to three years for an employee to be fully productive in their role)
Mental Health Advocacy Services trialed the 4 day work week with incredible business results. This is an example of the 4 day work week in the legal industry:
37% increase in total earned revenue
25% growth in attorneys, 33% increase in total employees
13% increase in years of experience per attorney
29% increase in total cases closed
117% increase in extensive service cases closed
73% increase in extensive service cases closed per attorney
2. Less Absenteeism
In the same South African trial employees took 9% less sick days during the 4 day week trial. In the UK trial, there was a staggering 65% reduction in the number of sick and personal days being taken by staff.
Unscheduled absenteeism can cost employers a lot of money and time. Factors which cause it include:
Stress
Burnout
Low morale
Hunting for other roles
Lack of psychological safety in the workplace
Personal issues
Disengagement
Boredom
Lack of belonging at work
Other commitments such as family and children
The 4 day work week can not only help to reduce the causes of unscheduled absenteeism, but they can also help reduce the absenteeism rate itself.
3. Boosting Productivity
Productivity goes up when employees trial a 4 day work week. It has to, as they have less time to do their work. But also because a major culture change has occurred within the business - employees are now more engaged as a result of the process of socializing, planning and designing for a 4 day week.
Microsoft Japan’s 4 day week trial resulted in a 40% increase in productivity. Similar results are seen in our trials across the globe.
If you’re struggling to grow your business, have you considered trialing a 4 day work week before?
Examples of organizations whose business grew as a result of trialing the 4 day work week:
Perpetual Guardian: This New Zealand company adopted a 4 day work week and reported maintaining the same level of job performance while seeing significant improvements in work-life balance and stress levels among employees.
Microsoft Japan: They experimented with a 4 day work week and found that productivity increased by 40%.
Radioactive PR: This UK-based PR firm moved to a 4 day work week and saw a 30% increase in productivity, and they've continued to grow and take on new clients since making the switch.
Reboot Online: A UK-based SEO firm that adopted a 4 day work week and has reported positive results in terms of employee happiness and company growth.
Search Engine Journal: This B2B news website switched to a 4 day workweek and saw a 22% increase in online advertising sales year to date.
Friendly Design Co.: This design agency cut Fridays out of its schedule and reported that May and June were the two biggest months for gross revenue in the firm's 11-year history.
These companies have shown that it's possible to adopt a 4 day work week without sacrificing growth or productivity. In fact, in many cases, the switch has led to increased productivity, happier employees, and continued company growth.
How can I contribute to the 4 day week movement?
So, how can we ensure the 4 day work week becomes routine over radical? We’re a non-profit organization looking to bring the 4 day week to as many people across the globe as possible. Our goal is to create a million years of new free time through 4 day week trials and transitions.
Would you like to sponsor us on this journey? Donate as little as $2 per month to become a part of this movement for a 4 Day World.
How can I improve my business with a 4 day week?
We offer support for businesses looking to make the shift to reduced-hour working in several ways:
1. Our Foundation Course
Our Foundation Course is designed for business leaders, consultants and entrepreneurs looking to understand how to implement a 4 day week in their organization, or to support the implementation of one in another organization.
We teach you through six video lecture modules, using the 100-80-100™ model.
2. Our Pilot Programs
We run 4 day week pilots using the 100-80-100™ principle across the globe. You can trial a 4 day week alongside other organizations in your geography. There are many pilots happening in various countries across the world.
Sign up here to register your interest in being a part of one of our pilots and we will let you know when the pilot in your country is kicking off! Alternatively, we have two global pilots happening in 2024, in March and September.
3. One-on-One Consulting
This is for larger organizations who want bespoke one-on-one support throughout the 4 day week planning and implementation process. We will provide you with world-leading experts in reducing working hours to help you on this journey.
