A recent survey from Bankrate reveals that a majority of workers and job seekers, 81% to be exact, are in favor of a four-day work week over the traditional five-day schedule. What’s even more surprising is that 89% of these individuals are willing to make sacrifices to work just four days. The sacrifices they would be willing to make include working longer hours, changing jobs or industries, working off-peak hours, having fewer vacation days, or even taking a pay cut. Only 11% of those interested in a shorter work week said they would not be willing to accept any tradeoffs.
The survey results indicate that employees are hoping the Covid-era work schedules, which often included remote work and flexible hours, will continue to be the norm. However, while the demand for remote work is high, it seems to outstrip the actual number of job postings that offer it as an option. Only 10.5% of job postings so far this year have been for remote or hybrid work, down from a peak of 13.7% in 2022. Despite this decline in job postings, hybrid work has become the norm, according to Julia Pollak, chief economist at ZipRecruiter. Employers may advertise remote flexibility in job postings, but the market ultimately dictates the level of flexibility that is offered.
Even though the availability of remote work may not be as widespread as desired, employers who do offer flexible schedules are likely to benefit when it comes to recruitment and retention. This may explain why some employers continue to provide remote work options even as the labor market begins to stabilize. Workers are clearly in favor of a four-day work week and are willing to make sacrifices to achieve it. As the nature of work continues to evolve, organizations will need to consider flexible work arrangements to attract and retain top talent.