A recent survey conducted by Bankrate reveals that 92% of young individuals would be willing to make sacrifices in order to have a four-day workweek. The COVID-19 pandemic has challenged the traditional work-life balance, leading younger generations to seek more flexibility and control over their work schedules. This desire, combined with a strong job market, has empowered them to negotiate for the work arrangements they prefer.
While the standard workweek in the U.S. remains at five days, 22% of workers anticipate that four-day workweeks will become the norm within their industries in the next five years. The willingness of younger workers to make concessions may play a crucial role in driving this change. Surprisingly, despite the perception that younger generations prefer remote work, one-third of Gen Z and millennial workers are open to working fully in-person if it means having a shorter workweek. This suggests that companies seeking to attract younger employees back to the office should consider offering a four-day workweek as a perk.
In addition to in-person work, younger workers are also willing to make other sacrifices to achieve a four-day workweek. These include working longer hours (48%), changing jobs or companies (35%), working weekends or evenings (27%), or even accepting a pay cut (13%). This data indicates that younger generations value work-life balance and recognize flexibility as a significant job benefit.
Notably, older generations also show a strong interest in a four-day workweek, with over 86% of Gen X and baby boomer workers expressing willingness to give up something in exchange for a shorter workweek. However, they are more inclined to work longer hours (61%) compared to Gen Z and millennial workers.
The transition to a four-day workweek as the norm may require government intervention, as only 15% of U.S. workers currently have employers that offer this schedule to promote positive mental health, according to ADP. However, the growing interest among workers in companies that already provide a four-day workweek could potentially drive change. Companies may feel compelled to introduce this non-traditional perk as more individuals start applying for such positions.
For employees who desire a four-day workweek within their current company, it is advisable to approach the topic as they would negotiate for pay. Considering the business case for the switch and how it can benefit the company's bottom line might be the most effective approach. However, it is important to recognize that this could be a gradual process.
Workers should take advantage of the current robust job market and capitalize on their bargaining power when initiating conversations about more flexible work schedules. Now is an opportune time to explore alternative options and strive for a better work-life balance.