Appeal of 4-day week ‘undeniable’ across generations
Over 60 per cent of Australian employees crave a four-day work week while retaining their current salary, a recruitment agency reveals.
Research from Robert Half surveying 500 hiring managers and 1,000 office workers across Australia has provided an update on employee sentiment towards the four-day work week structure.
Last year, Money Management covered two financial advice firms who had implemented flexible work weeks. National firm Invest Blue announced in March 2023 it had adopted a nine-day fortnight pilot.
In July 2023, Crowe Australasia, a subsidiary of financial advisory firm Findex, became the first large Australian accounting firm to confirm a nine-day fortnight work model as standard practice.
Robert Half’s research asked respondents what flexibility benefits they would like to see implemented by their employers this year. It discovered 65 per cent of Australian workers desire a four-day working week – the same hours within four days – with the retention of their current salary.
It was not just limited to younger generations either as over half of Baby Boomers, typically the demographic most keen to be in the office, agreed they would work four days.
The results were largely similar across all generations, with both Generation Z and Generation X at 69 per cent compared to Millennials at 63 per cent and Baby Boomers at 57 per cent.
“The appeal of a four-day work week is undeniable,” described Nicole Gorton, director at Robert Half.
“While increased productivity, a loyal workforce and having an advantage in the job market are known to be key advantages for companies, implementing this business model proves to be a challenge for most due to logistics, the nature of the operations and industry, and the potential to generate less output.
“So far, the four-day work week remains a fascinating experiment, one that holds promise but demands careful consideration,” she added.
Over six in 10 employees also desire shorter working days, or fewer hours per week, with the same salary. Meanwhile, 58 per cent of respondents want to finish early on Friday afternoons.
Gorton continued: “All generations value flexibility. But Gen Z, having begun their career during the work-from-home and flexibility revolution initiated by the pandemic, have particular high expectations. Their desire and advocacy for more flexibility could help transform the world of work, ultimately benefiting other generations who also seek flexibility.”
Moreover, 93 per cent of Australian employers aim to implement new flexible benefits for their staff this year.
The top three flexibility benefits employers are looking to introduce in 2024 include working longer hours during the week for extra annual leave days, working offsite or at co-working locations and tailoring one’s working hours to suit individual needs.
“Flexibility, in its many shapes and sizes, remains a top demand for employees of all generations. Companies must adapt to this new reality to stay an attractive employer, even if it deviates from traditional workplace norms. The perks and benefits world has changed and ignoring this shift can lead to businesses losing valuable talent or struggling to attract new hires,” the Robert Half director added.
The recruitment agency recently found that work/life balance remains a key attraction in employee retention. In particular, 59 per cent of workers would like a bonus or more flexibility around their working hours, while 58 per cent wanted more annual leave when it comes to accepting a promotion.
AUTHOR
Jasmine Siljic
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