Why the Four-Day Workweek Is Being Put to the Test
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What is the main topic discussed in this episode?
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Here's your Money Briefing for Thursday, June 9th. I'm J.R.
What is the UK four-day workweek pilot and who is participating?
Whalen for The Wall Street Journal. Wouldn't it be nice if today was the end of the workweek? Companies around the world have been experimenting with employees working four days a week instead of five. This week, about 3,000 workers in the UK are taking part in a study to find out if less is more.
They're taking a look at whether working about 80% of the time with 100% of the output and earning 100% of the wages that these employees would earn otherwise can improve well-being without sacrificing productivity.
The U.K. isn't the first country to experiment with reducing the work week. On today's show, we'll talk with Wall Street Journal workplace reporter Catherine Dill about the results of the studies as well as the chances of a four-day work week being implemented in the U.S.
How does the UK study measure productivity, pay, and well‑being?
That's after the break.
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This week, the UK is launching a social experiment, the four-day workweek. And while that may sound like a good idea, including no change in pay, can workers really get everything done in four days they typically get done in five?
What did Iceland’s multi-year experiment reveal about output and stress?
Wall Street Journal workplace reporter Catherine Dill has been tracking the pros and cons of a four-day workweek, as well as the chances it could be adopted in the US. Catherine, thanks so much for being with us. My pleasure. So Catherine, the idea of a four-day workweek, it's been talked about for a long time, but why has studying it gained so much support now?
You know, we're seeing that the pandemic really forced employers to rethink a lot of aspects of work, including the traditional five day, 40 hour schedule that many of us conceptualize the work week as. And they're looking for ways right now to boost loyalty and build morale and really to hang on to folks in a tight labor market.
OK, so the UK launched a widespread study this week on people working a shorter work week. How are they doing it?
It's a six-month pilot project and it includes about 3,300 workers, 70 businesses across industries and occupations, you know, banks, fast food restaurants. marketing agencies are participating. And they're taking a look at whether working about 80 percent of the time with 100 percent of the output and earning 100 percent of the wages that these employees would earn otherwise can improve well-being without sacrificing productivity.
And this has been done before. Iceland had a study that went on for four years. What was the result?
Between 2015 and 2019, Iceland studied this among a group of workers.
How have other countries and companies trialed reduced workweeks and with what results?
And in most cases, overall output didn't decline. In some cases, it actually improved. And most workers reported maintained or improved productivity as well as reduced stress.
How have some of these experiments impacted the economy?
You know, the research on this is mixed. Studies in Germany and France have found that, you know, the thinking on this sometimes is that people working fewer hours will spread the work around a little bit.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:39
2
What is the UK four-day workweek pilot and who is participating?
0:39–1:23
3
How does the UK study measure productivity, pay, and well‑being?
1:23–2:13
4
What did Iceland’s multi-year experiment reveal about output and stress?
2:13–3:37
5
How have other countries and companies trialed reduced workweeks and with what results?
3:37–4:58
6
Could consolidating five days of work into four increase burnout for employees?
4:58–6:18
7
What examples are there of U.S. companies experimenting with a four‑day week and what did they change?
6:18–7:28
8
What are the political and employer‑side obstacles to adopting a four‑day workweek in the U.S.?
7:28–8:13
Speakers
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