Remote Working Or The Four-Day Working Week?

Over a third of employers would be more open to a four-day week if staff spent the whole time in the office. That's according to a survey of nearly 12,000 professionals and employers. The research also found that 62% of professionals would work a four-day week in the office instead of five days on a typical hybrid pattern. However, Financial Times columnist Pilita Clark points to research indicating that hybrid working can help with staff retention when it comes to continuing on the current model of a standard five-day week.

The benefits of remote working

Since we were all forced into remote or hybrid working during Covid, more companies than ever are offering it as a permanent workforce arrangement, and the benefits are speaking for themselves. 

Access to a larger pool of candidates

Hiring in a strict geographic area limits the potential talent you can get on board. Opening up the geographic location for an open position allows hiring managers to hire the best candidates for the role, regardless of their location. 

  • A recent report from remote.com found that 60% of decision-makers say the number of quality applicants per open role has increased since their company adopted distributed workforce models. 

  • 35% of decision-makers say they can improve market competitiveness by serving more international locations when hiring internationally.

  • 29% of companies are adopting a distributed workforce model to access more skilled candidates, and 28% are adopting a distributed workforce model to increase diversity. 

Cost Saving

By having remote teams, companies can save on costs associated with office space, supplies, and other overhead expenses. This can be particularly beneficial for small businesses or startups operating on a limited budget. 

Remote.com reported that European decision-makers see immediate cost savings when shifting to distributed work models compared to other regions. One of the factors includes direct access to more talent markets, which could contribute to speeding up the recruitment process. Another factor is cost savings on commercial property (office space). 

Increased Productivity

Studies have shown remote workers are often more productive than their in-office counterparts. This may be due to factors such as fewer distractions.  

58% More than half of those in an in-country remote workforce model and 72% in a distributed international remote workforce model say productivity has increased after adopting a distributed remote workforce model. 

Further benefits include increased diversity, work-life balance, 24/7 coverage and cultural exchange. 

The four-day work week

The UK pilot study of 2,900 UK workers at 61 companies participated in the 6-month trial. They all agreed to work 80% of their usual hours with no reduction in pay while delivering 100% of their typical 5-day output. 90% of staff said they want to continue working a four-day work week. 71% had reduced levels of burnout by the end of the trial.

92% of the participating companies are keeping the four-day workweek model. Similar results have been seen in studies globally; however, there are industries where it doesn't work. 

For some firms, particularly customer-facing businesses, creating enough slack in the schedule for a four-day week means extra hiring costs – making moving forward with a new model prohibitive. For example, Dunn says Citizens Advice in Gateshead invested in three additional full-time employees so 45 contact centre staff could join the trial.

Having the insight into whether a four-day work week and remote working work for your company equips you with the evidence to know what choices to make for your team. In a world of personalisation, it's also essential to consider individual preferences to optimise your teamwork. Consider reading our blog about who should decide your work arrangements

With all the research on the four-day week and remote working, why do we need to choose one or the other?

 
Oakstone International

Oakstone International is a SaaS and Fintech specialist executive search firm.

https://www.oakstone.co.uk/
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