Written by Jahnvi Vyas
The ever shifting economy faced a massive backlash with the lockdown. The solution- remote work. But how successful was it? Let us find out in this article inspired by the pilot program run by The Advocacy Group.
I came across it through a LinkedIn post by The Washington Post and got to know that it was the most engaging article of the year 2023 with 103,996 engagements.
This is about the future of work. What do companies prefer now? Remote work, desk work or a hybrid option?
It was the largest trial of the four day workweek. Everyone that participated liked it so much that they agreed on working remotely even after the program ended. Moreover, the key takeaway here is that 15 percent of the employees participating in it stated that no amount of money would convince them to go back to working 5 days a week.
On the flip hand, not everyone agrees with working remotely entirely. This stands true for many industries with heavy machineries and plants that need to be operated manually, hospitals and laboratories. The healthcare industry faced a great shortage of staff especially during the lockdown when they were needed the most.
One argument is that if the 4 day working week persists, the employees’ productivity would eventually decrease significantly.
The program was hugely successful with about 3000 employees and 61 firms participating in it. The participants shared numerous benefits in their sleep cycles, stress levels, mental health and personal lives.
Now, about the revenue. The companies did not have any particular negative outcome due to remote work. However, the participating companies had a growth of 35% in their revenues when compared to the revenues from the similar period of previous years.
Out of the 61 firms, only 3 firms refused to extend this experiment. 18 firms decided to permanently shift their work to 4 days work week. 56 firms decided to continue the 4 day workweek even after the program ended.
Programs and re-shifts like these draw our attention back to the Great Resignation and the need for a change in the usual 9 to 5 and 5 or 6 days work week.
According to WFHResearch, the current state of work demonstrates how the location of jobs will change in the future. Although the majority of the workforce are still working in the offices - 59.1%, this trend will change drastically in the future with more people opting for an alternative.
Currently, 28.2% are enjoying the hybrid work model, where they work at both the places, their homes and the office. This gives a sense of familiarity amongst the employees, increases credibility and reliability on the office part and offers flexible time and freedom to the employees.
There are 12.7% of people that work entirely remote enjoying greater freedom with time , money and work flexibility. A majority of them also earn more than the ones going to the offices on a regular basis.
One important aspect of a 4 day workweek is that it reduces emissions, carbon footprint due to travel and the anxiety of being present the whole day. This is something that could transform and rebuild how societies work but got too late in implementing. The groups supporting this state that we are overdue for an update.