Bank of America Study: Four-Day Workweek Tops Employee Wish List

A recent survey by Bank of America revealed a significant trend among employees— 64% express a preference for a four-day workweek— making it the most requested benefit. The survey, conducted during the winter with 955 employees and 804 employers, underscores a growing preference for work- life balance over financial compensation. This trend indicates that employees are increasingly prioritizing their time and well-being when making employment decisions, alongside their financial needs. Consequently, understanding and addressing this desire could be critical for retaining talent in the competitive job market.

The survey also highlighted a discrepancy between employee preferences and employer willingness to adapt, with only 42% of employers inclined to offer a four-day workweek. This gap underscores the challenges companies face in meeting the rising demand for a more balanced work schedule. This gap underscores the challenges businesses face in meeting the demand for a more balanced work schedule. Despite the high demand, a four-day workweek remains uncommon, as only a small percentage of job postings mention this benefit. A Resume Builder survey from August found that three-quarters of respondents would switch jobs for a four-day workweek, with one-third willing to take a pay cut. Despite its increasing popularity, the benefit remains rare. Interestingly an Indeed analysis found that mentions of a four-day workweek in job postings rose only slightly from 0.1% in September 2019 to 0.3% in September 2023— hinting a new wave of change.  

According to Breathe HR, this option is only feasible for companies that can entirely re-adapt their business operations to accommodate the new working model. The report pointed out that the four-day workweek remains a rare benefit, with only a small percentage of job postings mentioning it. This is largely because not all business models can accommodate such a shift; companies would need to re-adapt their entire operations to support this new way of working, as noted by Breathe HR.  

Despite these challenges, the push for a four-day workweek is gaining momentum, driven by employees' increasing prioritization of personal time and work/life balance. While compensation remains a fundamental consideration, the survey has brought to light the growing importance of flexibility and well-being in the workplace.