CAN PR WORK A 4-DAY WEEK?
The working world has radically changed since we endure the first lockdown. Moving on from the acceptance of remote working and the integration of hybrid models is the rise of the four day week.
Condensing a five day week into four days, keeping the hours and salary the same sounds relatively simple, but there are several considerations to make before launching such a strategy.
Businesses taking this approach view the importance of taking an output-based approach rather than focusing on time as the decisive factor. Individuals demand more autonomy to manage their schedule and workload, where they work and what hours. These factors have become critical in attracting and retaining new talent, more so than salaries and monetary incentives to some businesses.
The traditional nine-to-five isn’t necessarily the norm for many people. Some agencies take a more holistic approach towards their management processes, prioritising wellbeing and creating an environment that empowers and energises their employees. Combining this with a proven increase in profitability and rising productivity increases confidence for many agencies considering making the change. Industry experts suggest a direct correlation between implementing a four-day working week and a positive move in overall performance.
Productivity directly influences profitability, and working smart and more efficiently will impact profit margins. Focusing on output rather than the number of hours worked transforms individual mindsets. Some agencies believe the four-day week inspires creativity, allowing people to feel refreshed and bring the best of their ability to work.
With recruiting and retaining talent proving to be a challenge, creating anything that inspires a collective culture is a positive move. Retention of the workforce is just as critical as client retention. Longer working hours directly influences the decisions of the next wave of talent.
Some businesses are more sceptical of adopting a four-day working week. While the concept of promoting flexibility and a hybrid environment is beneficial, some agencies are cautious in changing their existing five-day working week, mainly based on commercial viability and maintaining success for all clients on a reduced working week.
For those that have taken the plunge, one of the measures of success was maintaining their outputs and having no detrimental impact on their existing clients.
Finding a compromise
Other businesses have adopted a four-and-a-half day working week, which has differentiated those from other agencies and provided a better work-life balance for their employees. Companies suggest that their employees are more relaxed and happier, morale is better, and productivity remains high. It may not necessarily be the solution for every agency and likely depends on how flexible your customers are and how your business can structure their time.