Four-day work system: Iceland shows its strengths and weaknesses
Iceland has some of the longest days.It now has some Shortest working week, Thanks for the experiment in the public sector.
Paying less time for the same salary sounds like a nirvana in the workplace, but Iceland experiment It also reveals the bounty of the boss. This comes in the form of a healthier workforce and a vital increase in productivity. Without these, most managers would dismiss short weeks.
The Icelandic experiment covered only 1.3% of the moderate working population and lasted for four years. Subsequently, 86% of employees began to shorten their working hours or gained the right to do so. According to the NGO Alda and the British think tank Autonomy.
France has played down its plans. But Iceland encourages hesitating people.
Unlike the Nordic neighbours, Icelanders work long hours-more similar to Japan than Norway. However, like the British, their productivity is not high. OECD data shows that there is a strong correlation between reducing working hours and increasing output. Norway shines in this regard, leaving Iceland far behind. However, civil servants recorded an improvement in output during the Icelandic trial. For example, invoices processed by accountants increased by 6.5%.
Common criticisms of the four-day work week include manager opposition and the need to increase staff. Although some departments are forced to recruit, the increase in costs is small compared to the overall salary.
Autonomy In the UK, the situation will not be any different. It believes that job creation is an added benefit, and investors may not do so.
Autonomy estimates that changing Iceland’s public sector employees to work 32 hours a week will create up to 500,000 new jobs. This will increase the payroll by 5.4 billion to 9 billion pounds, with a maximum increase of 6%.
The savings include increased productivity and substantial costs associated with burnout and other mental health issues. Deloitte estimates that these measures will reduce UK employers by between 42 billion and 45 billion pounds a year. They are disproportionately borne by the public sector.
In the coming weeks, many bosses in advanced economies are faced with the tricky task of resetting their employees’ expectations for work attendance. This also gives them the opportunity to reconsider the length of the work week.