Finding a job that offers a four-day work week undoubtably means that you will be saving money in the longterm.
Working 4 days a week from home means money saved on transport
If you consider your daily commute, how do you get to work? How much do you pay for these services?
If you take your daily ticket price, so for London in 2020 the average tube ticket price is between £2.40 and £3.10 per zone, for a full list of prices check the link below.
Daily caps for Oyster cards are as follows:
Zones Oyster daily cap 7-day cap
|Zone||Daily Price||Weekly Price|
A better work life balance for employees
Working from home is now being offered by some companies as a way to strike a better work life balance. Following Covid 19 and a year’s worth of working away from the office for those who have desk jobs, some employers are now questioning why they have an office at all, when most of the work can be done from home.
Using the above table you can see that just on London Tube prices alone for a commuter in London a few days away from the office can be equivalent to a increase in pay over time. For those who have season tickets for trains to London, the savings can be even more if these are purchased by you.
Working 4 days a week from home means employees will see a rise in their Electricity, Water and Gas bills. (But you may be able to claim back for these).
WFH 4 days a week means that you would have to offset this saving on transport against the increase in your electricity, water and gas bills, which would increase as a result of working from home 4 days a week.
A brief history of WFH and how we got here
Working from home is not a new phenomenon and has been something that has been trialled since the 90s. The general consensus before 2020 was that working from home was tantamount to slacking off from work. A culture of presenteeism at some client facing companies, meant that older traditions were enforced without anyone really questioning whether it was the most efficient way to work.
Tech companies have been the most experimental when it comes to WFH
Working from home or having a 4 day work week has primarily been one that has been considered by Tech Companies. Facebook, Twitter, Microsoft and other big tech giants have all declared the benefits of working from home. And for some industries like the tech industry there doesn’t seem to be much of a reason for working at the office, when you have everything you need either on the cloud or on your work laptop.
Would a 4 day work week work for my business? (As an Employer)
If you have a small business then it may mean that you can save money on expensive office spaces, but if you are a client facing business then you may lose that face to face people interaction element that helps you to win new customers.
**If you are operating a larger business in the tech industry that doesn’t rely on office space, then the answer is likely to be that you can start to consider this way of working on a more permanent basis.
Studies have shown that it is a myth that employees will slack off from work while working from home and that in fact employees are actually very productive at home.
The big issue for companies that offer WFH opportunities is the risk to their data and the possibility of a data breach.
According to a study by Skillcast
the biggest risk of WFH for corporations comes from employees browsing non work related websites during their breaks, with 56% of people in the survey suggesting that they would do this.
- Health concerns of employees. Employees WFH don’t have the appropriate setup that they do when they are in the office and this means that they don’t invest in things such as a good office chair a back support to stop back pain, or appropriate lighting that would prevent them getting eye strain. Couple with this the fact that many employees are renting and live in shared accommodation means that their mental health may suffer as a result.
The 4-Day Work Week’s Impact on Productivity
The Netherlands has had a four-day workweek for years, with evidence of a boosts in productivity.
Value in the knowledge economy is measured in client relationships and closed deals; in creative innovations; and in the quality of software code. To do this work, people need to marshal cognitive energy, and to do that, they need to be refreshed. A study done by industrial researchers in 2014 found 17 minutes of break time for every 52 minutes of work to be the most productive balance—about a 1:3 ratio. If you grant that ample time off yields better performance on the clock, something like a shorter workweek starts to sound plausible.