By Donna LeValley
Published August 23, 2023
The pandemic ushered in a new paradigm of working, particularly with the preferences for hybrid and remote work configurations. Workers have adapted to these changes so well that many are reluctant to return to traditional office settings full-time. A recent survey from Bankrate reveals that workplace flexibility is increasingly prioritized, with employees willing to make significant trade-offs for shorter work weeks and the option to work primarily from home.
The Four-Day Work Week
The concept of a four-day work week has garnered substantial support across various demographics. Approximately 81% of full-time workers and job seekers advocate for a shift to a four-day work week compared to the traditional five-day model. Remarkably, only 11% of respondents expressed an unwillingness to consider changes to secure this arrangement.
Younger employees show even more enthusiasm; 93% of Gen Z workers and 91% of millennials favor the four-day work week, while 87% of Gen X and baby boomers are also supportive. Additionally, a larger proportion of women (93%) back the concept than men (87%).
Workplace Flexibility
Approximately one-third of workers (37%) would even consider changing jobs or industries to attain a four-day schedule. Other potential trade-offs include:
- Working longer hours (54%)
- Increased in-office days or full-time in-person work (27%)
- Reduced vacation days (16%)
- Longer commutes (12%)
- Salary cuts (10%)
Support for Hybrid and Remote Working
Support for hybrid work arrangements is also widespread, with 68% of employees in favor of this model. Furthermore, among those who support hybrid work, 73% are willing to make concessions to achieve this schedule. The most frequently mentioned trade-offs include:
- Changing jobs or industries (37%)
- Working off-peak hours (28%)
Moreover, remote working is favored by 64% of American employees, with a significant 78% of them willing to make sacrifices to work remotely. Notably, the willingness to adapt varies among generations, with Gen Z (81%) and millennials (83%) showing a higher propensity to accept such changes compared to 76% of Gen X and 58% of baby boomers.
The sacrifices commonly cited include willingness to switch jobs or industries (42%) and to work during off-peak hours (35%). Mark Hamrick, Senior Economic Analyst at Bankrate, noted, “Given the extensive number of job openings in the U.S., employers who adapt to evolving workplace preferences can gain a competitive edge in attracting and retaining top talent, especially among younger and female workers. Those who disregard these shifts may risk losing valuable team members.”
