[imagesource:pixahive]
There’s been some scepticism about the four-day workweek being effective for business in general, and especially in a South African context.
However, the results for the local trial of the shorter workday model show a resounding success among companies who participated in South Africa.
Woop woop, bring on a three-day weekend!
The trial was the first conducted in a developing nation, as well as the first in Africa, and demonstrated significant benefits for both employees and employers.
Managed by the 4 Day Week Global organisation in collaboration with 4 Day Week South Africa NPC and academics from Boston College and Stellenbosch Business School, IOL reported that the six-month study began in March 2023 and was completed by 26 local companies.
The results of the pilot study showed that businesses scored their experience an eight out of 10, with 92% expecting to continue or contemplating the four-day week.
“Employees value their time off so much that 51% say they would need a 21 to 50% pay increase to revert to a five-day week at their next job. Moreover, 13% report that no amount of money would induce them to return to the five-day formula,” reported 4 Day Week SA.
Time to work smart, not hard.
Overall, the trial received an eighth grade from corporations – where 0 is negative and 10 is positive. Here are more of the results:
- Productivity received a score of 7.5 (as judged by business executives).
- The impact on corporate performance received a score of 7.1.
- The overall impact on the firms was 7.7.
- The impact on recruiting and the potential to attract fresh talent received a 7.9 rating.
- During the trial, the company’s sales increased by an average of 10.5%.
- When compared to the same period last year, resignation rates fell by 11%.
- The rate of absenteeism fell by 9%.
- Almost half (49%) of participants reported an increase in workability, and 58% reported an increase in creativity.
- Around 57% of those who took part reported a decrease in burnout.
- One-third of individuals said they had fewer sleep issues, while 35% of individuals increased their time spent exercising.
- One-third of participants reported a reduction in job stress.
- About 47% of participants reported an improvement in work-life balance, while 59% of participants reported higher satisfaction with time management.
- About 35% of participants reported an improvement in their mental health and well-being.
Now, a majority of businesses (92%) are either continuing or contemplating the four-day workweek. The premise of those pushing for such a work structure is the increase in productivity by employees and the workers’ improved mental wellness.
Let’s push the four-day workweek to the finish line, okes!
[source:iol]
