Several US organizations are experimenting with four-day workweeks to reduce employee burnout and promote well-being. Even though only a few firms are prepared to commit to a four-day workweek, the introduction of AI technology may accelerate the transition.
The latest survey conducted by Tech. co of 1,000 U.S.-based business CEOs revealed that organizations with greater AI history would be nearly twice as likely to opt for a four-day workweek as those without.
Many employees today struggle with feelings of overburdenedness and burnout in their jobs. Addressing this issue, Paul Knopp, the chair and CEO of KPMG US, told CNN, “We are all working to figure out what is optimal, and we will continue to experiment and pivot.”
Fortunately, empirical research from the United States and Europe has shown that a four-day workweek can improve employees’ work-life balance.
“It’s way too early to declare the four-day workweek part of the future”
However, Knopp warns, “It’s way too early to declare the four-day work week part of the future. It’s still in the experimentation phase.”
The challenge for CEOs is to understand the complexities of how a shorter workweek would function, the effects on employees’ mental and physical health, and the opportunity to save operational costs by encouraging healthier work environments.
Some firms that experimented with shortened workweeks have discovered the right balance and are sticking with it. In the United Kingdom, the majority of businesses that took part in the largest global trial of a four-day workweek retained the shortened schedule a year later, with more than half making the move permanent.
Knopp pointed out that, while it may be appropriate for sectors such as banking and marketing, it may not be feasible in businesses such as healthcare, journalism, and law enforcement, which are already experiencing labor shortages.
“My guess is a widespread four-day workweek could be years away – if ever. You’ll see companies quietly experimenting with it, but I don’t personally foresee widespread adoption in the next couple of years,” he speculates, he says.
Billionaire investor Steve Cohen had a similar perspective, telling CNBC that he believes a four-day workweek is on the horizon, thanks to advances in AI technology. Cohen’s investment in a new golf league is based on the premise that individuals will soon have more free time, particularly on Fridays.
“I think I would have done the golf investment anyway because I think there’s a longer-term thought, but my belief is a four-day workweek is coming,” he stated.