What Does The Four-Day Workweek Mean For The Future Of Work?
According to a new study from Henley Business School, more than two-thirds of companies believe that offering a four-day week will be critical to future business success. Following the release of their 2019 white paper "Four Better or Four Worse?" which explored attitudes toward flexible work and the four-day week, researchers revisited the topic a few months ago with quantitative surveys of more than 2,000 employees and 500 leaders in the UK. Their results concluded that the four-day week positively affects well-being: 78% of employers reported that their employees feel less stressed at work, a 5% increase from 2019.
Interestingly, the pandemic has changed many people's views on the most important benefits of the shortened work week. A clear majority (70%) agree that a shorter workweek would improve their overall quality of life, and more than two-thirds think their mental health would improve with greater work flexibility. In addition, 69% of employees think their family life would improve with a shorter work week. When asked what they would spend their extra day off on, spending time with their family is the most popular activity across all generations (66%). Charitable organizations could also benefit, with a quarter of those surveyed saying they would use the time to volunteer.
Find the whole Column from Ben Laker on the MIT Sloan Management Review 👈
Speak Up 📣 Discrimination Makes You Think Small
Just last year, only 1.3% of VC funding in Europe went to founding teams solely made up of ethnic minorities. Of company founders from underrepresented backgrounds polled by researchers, 56% said they had recently experienced discrimination inside the tech ecosystem. A recent report also found that, between 2009 and 2019, a minuscule 0.24% of venture capital in the UK went to teams of Black entrepreneurs.
There has been a real shift in consciousness, attitude and rhetoric from many VC firms and institutional investors across the continent in recent years. So why is the amount of VC cash flowing into startups led by diverse teams still so low? And what is it actually like fundraising as an ethnic minority founder today? Sifted went to meet 4 entrepreneurs exploring their experiences with fundraising. They talk about the challenges they faced, explain what urgently needs to change, and offer advice to others embarking on fundraising. Read more on this link 👈
Data 📊 What Do Great Managers Do That Others Don’t?
This Gallup study on over 80,000 managers gives us some insights into the topic.
💪 They capitalise on people’s strengths rather than their weaknesses
Chances to be engaged in your job and to stay are 6x higher if you feel like you are working with your strengths!
⌛ They spend most time ramping up top performers
Top junior data analysts are usually 50% better performing than average. If you invest in them, that becomes 10 times. Quite the multiple, huh? It also allows you to learn what it is that makes them outperform.
💜 But also, they show that they care. To everyone.
They ask about people and understand their working & communication style. They give regular feedback (and in private). And rightly so, as 60% millennials want feedback at least once a month! By the way, it’s not only about showing you care, it’s about caring for real :)
Want to learn more? Welcome under our Data Lead Sarah’s post right here!
Trend 🌊 We’re Getting Better At Showing Feelings @ Work
A 2021 report on mental health in the workplace by Mind Share Partners, Qualtrics and ServiceNow found that talking about mental health with colleagues is increasingly the norm. The ongoing pandemic and racial injustices have fostered some of these issues, according to the report.
The percentage of employees who feel comfortable talking about mental health with their managers rose from about 29% in 2019 to about 40% last year. The percentage of workers who discussed their mental health with colleagues literally exploded: from 40% to 65% over the same period.
Yet getting workers to feel more comfortable expressing their feelings at work is not enough to solve mental health problems. The percentage of U.S. workers leaving their jobs for mental health reasons also increased from 22% in 2019 to 32% last year.
Read more “it’s OK to cry at work” 🥹
News 🗞 The Worst Is Never For Sure
A few days ago, Y Combinator advised its portfolio founders to "prepare for the worst" as startups struggle to cope with a sharp turnaround after a 13-year run. It is surely well adapted to companies without a real business model or that will need a lot of cash to survive in the coming months. But worst-case thinking sometimes encourages us to adopt fear as the dominant principle around which we must organize our lives.
Be reactive, prepare a plan B or C? Of course, but maintaining a climate of permanent insecurity is the worst thing we can do. Innes McFee, chief global economist at Oxford Economics, says a recession remains unlikely at this point, as policymakers still have the tools to reverse course and stimulate the economy if things go south. The risks of a recession increase next year, but “they are not that high right now”, McFee says.
The Nugget 🍪 Tired Of Your Job? All Is Not Lost!
Are you missing out on your professional life? A large majority of people feel disengaged at work. The reason? Often, they have chosen a career that does not correspond to their talent or passion, but also because of a work environment that is not stimulating.
1. Multiply your options 🤷♂️
When you stay too long in a job that no longer excites you, it's hard to realize your value and the opportunities available to you. Make a list of things or areas that interest you without censoring yourself.
2. Define your non-negotiables 🧐
Before making a career change, you need to get a handle on your life regardless of the position you are aiming for.
3. Be realistic
Many people dream of changing their lives... but instead of idealizing a job or a sector, ask yourself the right questions to find out if this project serves your life strategy defined above.
More advice HERE with HR consultant N'Geur Sarr (in French)