(Insurance Business America) - Boosted sales, lower burnout and fatigue, and higher employee satisfaction – they’re just some of the potential benefits of a shorter working week, and now there’s data to prove it.
The four-day work week made global headlines after companies trialling the scheme in the US and Ireland saw impressive results. The six-month experiment – the largest pilot of the working pattern so far – saw more than 3,000 people working fewer hours for 100% pay. But would it work for the insurance industry?
“Every executive sitting at the top of an organization must come to grips with the reality that the workplace expectations are shifting. It's more quality-of-life focused, and less bottom-line focused,” said Jeff Arnold (pictured directly below), founder of Rightsure Insurance Group. The Arizona-based independent insurance agency has been named one of the Top Insurance Employers by Insurance Business America (IBA).
“When I was growing up, if your employer asked you for 50 hours, you gave them 60 hours. That's just how it was. But things are changing,” Arnold continued. “The number one thing leaders are going to be looking at is how does [a four-day work week] impact profitability.”
Insurance leaders have come to a crossroads with workplace set-ups in the wake of the COVID-19 pandemic. Many organizations are wrangling over hybrid schemes or even a full return to on-site work. A condensed work week could create fresh upheaval for employers. But for Arnold, the industry should keep an open mind.
By Gia Snape
December 21, 2022
