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February 19, 2019 07:35 pm

Analysis of Four-Day Working Week Trial by a New Zealand Financial Services Company Finds Staff Were Happier and 20% More Productive

AmiMoJo shares a report: The founder of one of the first big companies to switch to a four-day working week has called on others to follow, claiming it has resulted in a 20% increase in productivity, appeared to have helped increase profits and boosted staff wellbeing. Analysis of one of the biggest trials yet of the four-day working week has revealed no fall in output, reduced stress and increased staff engagement, fuelling hopes that a better work-life-balance for millions could be in sight. Perpetual Guardian, a New Zealand financial services company, switched its 240 staff from a five-day to a four-day week last November and maintained their pay. Productivity increased in the four days they worked so there was no drop in the total amount of work done, a study of the trial released on Tuesday has revealed. The trial was monitored by academics at the University of Auckland and Auckland University of Technology. Among the Perpetual Guardian staff they found scores given by workers about leadership, stimulation, empowerment and commitment all increased compared with a 2017 survey. Details of an earlier trial showed the biggest increases were in commitment and empowerment. Staff stress levels were down from 45% to 38%. Work-life balance scores increased from 54% to 78%. "This is an idea whose time has come," said Andrew Barnes, Perpetual Guardian's founder and chief executive. "We need to get more companies to give it a go. They will be surprised at the improvement in their company, their staff and in their wider community."

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