2 Years After: The Status of the 4 Day Work Week
It has been just over two years since we introduced a 4-day work week, as one of the first companies in the world to do so – but how are things going today? You will get the answer to this question as we take a closer look at what the extra day off has meant to the business and the employees of IIH Nordic.
How it is going in IIH Nordic today
Going from 5 to 4 business days is a big change – and it takes time to make this change and succeed. Today, we can look back on the last two years of lots of new initiatives and a different work week that has offered a number of improvements. Here are 5 of the improvements that we are the most pleased with:
1. We work 20,000 hours less
Today we work approx. 20,000 hours less per year, compared to 2016. These are hours spent instead with the family and on hobbies, as well as individual time to focus on learning and development – something we emphasize, but can easily be forgotten during a busy day.
2. Productivity has increased by 43 %
Productivity at IIH Nordic has increased by 43% over the last 2 years. One of the explanations is that our staff has been provided with tools that help them better plan their work week and solve their tasks more efficiently. In addition, we are convinced that the extra day off means that our employees come to work fresh, rested and well-groomed on Monday morning – ready to do their best for customers.
3. 71 % more profit
What happens to revenue when you cut down on working hours and stay free on Fridays? Can we achieve just as much? And what signal does it send to customers that we no longer work every day to create value for our customers? Those were some of the worries that filled our heads when we introduced the 4-day work week back in 2016. But it has exceeded all expectations and, today, we are pleased that profits have increased by 71 %.
4. Our employees are happier
The goal of the 4-day work week was to improve the quality of life for IIH Nordic employees – and the results demonstrate that it has been successful. In fact, over the past 2 years, employee well-being has increased by more than 70%. And then, in both 2017 and 2018, we were able to celebrate being awarded Denmark’s Best Minor IT Workplace as well as a 2nd place in the overall category: Denmark’s Best Workplace.
5. Sick leave is halved
The extra day off has also had an impact on sick leave at IIH Nordic. Indeed, it has fallen from 3.4% to 1.7% over the past two years. This is partly due to the fact that employees are able to book doctor and dentist appointments on Fridays, but it is also largely a result of reduced everyday stress among employees and a better work-life balance. A 4-day work week creates a happy and healthy employee.
Media from home and abroad showed great interest when we first introduced a 4-day work week. Even though third parties often believe that we made the change in one day, there were 3 years of thorough research prior to the implementation – and since we first introduced employees to the new work week, several new initiatives and changes have come to light. Going from 5 to 4 work days is, therefore, not as simple as it sounds – and it is a concept that we are continuously working on improving. In fact, we have more than 180 efficiency measures in the pipeline – over time, they must help to create even better frameworks and working conditions for the employees of IIH Nordic.