Support rises for four-day working week
Three quarters of UK workers believe they could perform their job to the same standard in four days as they currently do in five, according to new stats.
Overall, 74 per cent of people support moving to a four-day working week, with the number rising to 79 per cent among millennials (those aged between 23 and 38).
The research, which was based on a survey of over 2,000 UK workers by YouGov as well as data from Indeed, also found that UK workers who prioritise a work-life balance would be happy to earn £6,000 less per year in order to achieve their desired split.
In terms of the most important part of their job, 57 per cent of workers said it was their salary, 55 per cent favoured their work-life balance, 45 per cent said it was job security, 40 per cent said their colleagues, 34 per cent said their commute, 20 per cent cited other financial benefits such as a pension, and 12 per cent said it was their company's culture.
Interestingly, 56 per cent of employees would like all colleagues' salary information to be available and transparent, with just 33 per cent opposing the idea.
Speaking about the findings, Pawel Adrjan, UK Economist at Indeed, said: "The results tell us that pay matters - a lot. More than half of full-time workers consider pay to be more important than purpose at work or even getting a promotion.
"Moreover, despite average weekly earnings currently growing at close to their highest rate since the financial crisis of 2008, nearly a third of UK employees are dissatisfied with their current level of pay.
"But pay is not everything. The results show that work/life balance is hot on the heels of salary when it comes to workers’ priorities and it’s an important factor for workers of all ages. This, combined with the result that most people back pay transparency, and the majority view that a four-day working week is feasible, supports the view that the demands of the workforce are evolving.
"The survey sends a strong signal to employers struggling to attract and retain employees in today’s competitive labour market, as well as to policymakers looking to ensure that Britain’s jobs boom satisfies the expectations of today’s workforce. Employers who want to attract and retain the best staff will need to take an imaginative and flexible approach to how they organise their people."
By Owen Mckeon