If you had the choice, would you rather a pay raise or a reduction in the amount of hours you’re expected to work each week? This isn’t a fun ice breaker, it’s actually a very real decision facing companies across the world as the labor market continues to experience a skills shortage caused by the Great Resignation.
So tight is the market right now, that a recent Gartner survey shows that a rethinking of the traditional 9-5 workplace is how companies are competing for talent.
So, is this the end of the traditional 9-5 working week?
Prior to 2020, this was the norm for the majority of workers. When asked about remote work, companies stated problems such as a lack of remote access, a need for collaboration and a concern about staff’s productivity levels if left unsupervised as reasons to keep workers in the office Monday to Friday.
Then the pandemic hit, and everything changed. Lockdown after lockdown gave us all a taste for remote working and the flexibility that comes with that, without sacrificing productivity, bottom lines or milestones.
We learned that with no office structure comes the ability to tailor our work day to a format that suits our working style, such as scheduling meetings during down-time and leaving gaps for deeper work. We discovered that with no commuting time, we were better able to create a work/life balance; finding extra time each day to do chores or spend time with loved ones. And we liked it.
Numerous surveys conducted over the past two years have shown that 91% of U.S. workers want to continue working on a hybrid basis, with more than half saying if their ability to work from home and have some control over their schedule was taken away, they would look for a new job.
Which is why companies have no choice but to acknowledge that the 9-5 as we know it is over.
For some employers, getting ahead of the curve and ensuring a happy workforce has resulted in carrying out trials of four day weeks without impacting salaries and looking at outcomes.
Following a trial in Japan which saw workers drop to a four day week while keeping the same salary, Microsoft saw productivity go up by nearly 40%. And this benefit to employers is not limited to the tech sector. Overall, productivity rose 3.8% over the past four quarters, according to the U.S. Bureau of Labor Statistics, while hours worked jumped 13.7% — showing that the traditional 9-5 is not the only way to achieve success.
What can you do if you’re stuck in a role with a company refusing to embrace the new way of working? If you’ve tried everything you can to introduce flexibility and new methods to your workplace and are not seeing the fruits of your labor, it may be time to move.
Globally, the majority of companies have adopted a more flexible approach to work, with Gartner reporting that the companies who don’t adapt will continue to experience high levels of churn. This also damages company culture, as workers feel forced to engage and produce in a way that no longer feels natural to them. This is especially true for Millennials and Gen Z workers, who crave the flexibility to create a work day that works for their productivity cycles.
If your employer won’t budge, there are dozens of companies currently hiring on the VentureBeat Job Board, all of which are open to hybrid or fully remote working — depending on the role. We’ve explored three options below.
The travel disruptor offers staff some of the best benefits on the market, including a quarterly travel allowance which can be used to visit any Airbnb property as well as a generous holiday allowance. AirBnB is currently recruiting for a number of roles across its marketing function. Explore all available roles with the company.
If you’re interested in learning how the cloud can empower and support the not-for-profit sector, then Personify is for you. A platform that enables faster and more personalized community management, it currently employs over 250 people globally, with most roles able to be done remotely. Personify is currently recruiting across its engineering department, with roles available in Java development, automation and software development. Browse all vacant opportunities.
Crowdstrike is a global cybersecurity company which uses cloud-native platforms to protect sensitive information. CrowdStrike’s revenue increased by 61% year over year and it currently employs over 1,200 people, half of whom work fully remotely. It is currently recruiting for fully remote roles across engineering, data analysis and UX. Explore all available vacancies.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.