Flourish with a four-day-week
Scotland’s tech firms have been wrestling with various flexible working models to present themselves as an attractive proposition in an employee-driven market. A recent Labour policy – the fourday working-week – has been exciting many talent managers for years now.
In a recent study, 72 per cent of talent professionals agreed that flexible working was extremely important in shaping their acquisition and retention strategies. This is reflected in the lexicon of today’s talentseekers which has seen an 80 per cent rise in references to workplace flexibility.
There is clearly a growing desire to support the workforce of the future to deal with the day-to-day drudgery of the rat race while maintaining business goals and objectives. Workplace stress and overworking are two of the top three concerns for UK employees. So, what is the answer? Our survey found 96 per cent of potential employees in Scotland were looking for some form of flexible working from an employer, with 40 per cent citing a four-day-week as their preferred option.
The prospect of a 20 per cent reduction in working hours will seem like a wacky notion at best to many employers. However, research shows there’s method to the madness.
Microsoft Japan trialled a four-day-week in August with impressive results; a 40 per cent increase in sales and a 25 per cent reduction in sick days. There were also significant power savings and a reduction in printing. 92 per cent of employees were in favour of this policy – combined with significant gains on the bottom line it makes for a compelling case, especially when every tech business out there is trying to retain their valuable talent.
Flexible working is just one aspect of retention. The promise of an everincreasing salary is neither practical nor the main driver for many of today’s workers. The opportunity to grow professionally and personally will inspire the best talent to hang around. Our survey found that 66 per cent of respondents felt career development was an important component of any employee benefit scheme. Workers are three times more likely to seek new employment if they don’t feel supported in their professional growth.
It is clear people want to be inspired and feel they can make a positive impact in a wider social context. The days of pool tables and beer fridges are over - many Silicon Valley eccentricities aren’t right for the modern Scottish workforce; more than 90 per cent of potential employees research prospective employers’ visions and values to ensure they align with their own before applying.
There are clear benefits to embracing the uncomfortable and forcing yourself to think differently about what you offer employees. A four-day week could help build the workforce you are looking for; you just have to trust in the process and watch your staff blossom. Peter Dunn, associate director, Eden Scott