The concept of a four day work week, employees being allowed to leave early on Friday or get have it off isn’t new. If fact, it has been the norm in the health and medical field and other industries for years. According to the Society for Human Resource Management this perk is offered as an option to some employees 43% of companies, yet only 10% of those companies make it available to all or most of their employees. Lately, companies have been using it to attract and retain top talent. And why is that? Many of today’s workforce especially millennial are not interested in jobs that require one to work 60 hours a week, and instead, value time-off from work to spend with friends and family.
A recent study by CEB, now Gartner says that Organizations Are Offering Flexible Schedules, Reduced Hours to Retain Employees Who Are Feeling More Confident About the Labor Market.
In its press release on the study, it revealed the following:
“Summer Fridays” are days that organizations offer employees the flexibility to leave early or take the entire day off. Organizations that offer this type of perk may have a competitive advantage when trying to retain their top talent.
According to data from the CEB Global Talent Monitor, employee confidence in the business environment and their personal economic prospects increased again in Q1 2017 – the fourth consecutive quarter. In addition to feeling better about the global labor market, employees are increasingly seeking out new jobs in several major economies, including the U.S., China and Germany.
“As the number of employees feeling more confident about their personal job prospects increases, companies must find creative ways to reward and retain their top talent,” said Brian Kropp, HR practice leader at CEB, now Gartner. “Giving employees the gift of time via Summer Fridays is one low-cost way to improve employee engagement, which in turn can increase employee productivity and drive business results.”
For many employees, work-life balance is one of the top factors they consider when choosing to take or leave a job. Even organizations that are unable to offer an official Summer Fridays program can capitalize on the importance of work-life balance and reinforce the value they place on employees by:
- Allowing staff to work from home more frequently during the summer
- Enabling employees to shift their hours to either come in early or later
- Encouraging employees to take PTO without guilt
Before trotting up to your boss with all this data to make your case for either working half day or having Fridays off, make sure you understand the make up of your organization. If your company does not offer either, your manager might have a compelling case. Ask employees who have been at your organization, longer than you about its history. There is likely a reason why your company does not have it.
Whether it’s working half day on Fridays, telecommuting on that day or having it off altogether, it isn’t limited to the private sector. The Canadian and US Governments in various departments offer some version of the proverbial “Summer Fridays” and in some instances, it’s year round.
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