13th June 2022

What does the four-day week mean for contract and freelance rates?

Recruitment

The march towards a four-day workweek

With the cost of living crisis driven by seemingly runaway inflation, productivity is seen by many as one potential remedy. In economic theory, increasing productivity is part of a corrective mechanism that can help to arrest inflation.

If increasing productivity is the aim, then for many, reducing the working week by 20% may seem to be a counter-intuitive step. However, that’s just what is happening as companies around the world undertake trials of a four-day work week, with Belgium now even offering it as a permanent option to employees who want it.

Findings from Microsoft Japan in 2019 saw a 40% increase in productivity. In Australia and across APAC the idea has already been given wings too. The progressive thinking New Zealand Prime Minister, Jacinta Arden, has already suggested companies roll out four-day working weeks to jump-start post-pandemic economic activity.

Last week saw the UK initiate the world’s biggest trial so far, with more than 3,300 workers at 70 UK companies, ranging from a fish & chips fast food outlet to large financial firms, start working a four-day week with no loss of pay.

It’s thinking-cap time for recruiters!

This is certainly going to drive some conversations between recruiters and their clients! Key issues and challenges might include:

Agencies adapt better to change with ETZ

The world is evolving at a seemingly faster pace than ever. Technology is at the forefront of change, pushing forward with innovation and increasing efficiency. ETZ is the RecTech partner of choice, helping agencies to navigate the pitfalls and obtain excellent value from technology.

ETZ’s leading timesheet, invoicing and payment solution, and complementary Caspian business intelligence platform are both purpose-built for the recruitment industry. To find out more call us on +61 (0) 405 458 821 or book a demo.



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