AS THE SO-CALLED GREAT
RESIGNATION CONTINUES COMPANIES
HAVE HAD TO GET CREATIVE WITH
RECRUITING AND RETAINING
EMPLOYEES.
THE NEWEST BENEFIT IS A FOUR-DAY
WORK WEEK.
JOINING US TO TALK ABOUT THE
PROS AND CONS ARE TOM GIMBEL THE
FOUNDER AND C.E.O. OF LASALLE
NETWORK A NATIONAL STAFFING
RECRUITING AND CULTURE FIRM.
AND BEN FRIEDRICH A PROFESSOR OF
STRATEGY AT NORTHWESTERN
UNIVERSITY'S KELLOGG SCHOOL OF
MANAGEMENT.
THANK YOU FOR JOINING US.
BEN, SO THE COMPANY PANASONIC IS
NOW OFFERING A FOUR-DAY WORK
WEEK OPTION.
IS THIS A BIG ENOUGH PERK TO BE
ABLE TO LURE TALENTED EMPLOYEES
TO THE COMPANY?
>> I THINK IT IS A PERK AND IT
CAN HELP ATTRACT TALENT MANY
WORKERS PREFER A FOUR-DAY WORK
WEEK.
IT IS A NEW PERK THAT EMPLOYEES
VALUE AND THIS OFFER
DIFFERENTIATES THE COMPANY FROM
THE COMPETITION AND ESTABLISHES
THE COMPANY AS A LEADER IN
CREATING A HEALTHIER WORK
CULTURE AND THIS IS VALUABLE
RIGHT NOW AS COMPANIES ARE
FACING THE GREAT RESIGNATION.
LABOR SHORTAGES AND A BIDDING
WAR FOR TALENT.
>> TOM GIMBEL YOU TRIED A
FOUR-DAY WORK WEEK DIDN'T GO TOO
WELL.
WHEN WAS THAT AND WHY DIDN'T IT
WORKOUT?
>> BRANDIS THAT WAS A LIFETIME
AGO, 22 YEARS AGO.
DURING THE"DOT COM" BOOM.
YOU ARE PUTTING THEM IN A BOX
AND SAYING ONLY WORK THESE DAYS
AND THESE TIMES TONIGHT GOES
AGAINST THE GRAIN.
WHAT WE HAVE A REAL DIFFERENT
WORLD NOW WITH REMOTE WORK
OPTIONS PEOPLE CAN BE WORKING
FROM ANYWHERE AND ON A COMPANY
LIKE PANASONIC WE ARE IN A
SUPPLY CHAIN SHORTAGE THE
MANUFACTURING PEOPLE NOT WORKING
FIVE DAYS A WEEK?
ARE THE DELIVERY PEOPLE NOT
WORKING FIVE DAYS A WEEK?
IS THE EXECUTIVE TEAM NOT
WORKING FIVE DAYS A WEEK.
TOO OFTEN WHEN THE COMPANIES
ROLL THESE THINGS OUT THEY DO
NOT TELL THE WHOLE STORY I'M
INTERESTED TO KNOW MORE ABOUT
THAT.
>> TOM, I WANT TO FOLLOW-UP YOU
TALKED ABOUT PEOPLE FEELING
BOXED IN AND TOLD TO WORK THIS
AMOUNT OF HOURS.
TALK ABOUT THAT CHANGE IN
MINDSET OUR CULTURE CAN BE WORK
CENTRIC?
>> THERE'S DIFFERENT TYPES OF
PEOPLE AND SO OFTEN THE SQUEAKY
WHEEL GETS THE OIL.
YOU HAVE EMPLOYEES THAT WILL SAY
I'M MORE PRODUCTIVE FROM HOME
WHY DO WE HAVE TO COME IN.
I CAN DO IT IN FOUR DAYS.
BUT YOU HAVE A LOT OF PEOPLE WHO
LIKE THE CONTINUITY HOW IT IS
THEY DON'T WANT TO WORK FOUR, 10
HOUR DAYS THEY WANT TO CUTOFF AT
EIGHT HOURS.
AND PEOPLE SAY IT'S THE
EXTROVERTS THAT WANT TO COME TO
THE OFFICE.
I FIND IT OPPOSITE.
THE INTROVERTS DO NOT HAVE A
SOCIAL LIFE AND WORK IN THE
OFFICE GIVES THEM THAT VEHICLE.
I'M NOT PUTTING AN ABSOLUTE ON
ANYTHING.
I'M SAYING THERE'S TWO SIDES TO
EVERY COIN.
>> BEN, TECHNOLOGY HAS CHANGED
OVER THE DECADES AND THE
PANDEMIC SHOWN COMPANIES THAT WE
CAN CHANGE OUR WORK PACE SPACES
AND BE SUCCESSFUL IS THAT FAIR?
>> I THINK THAT IS TRUE.
I MEAN THE PANDEMIC FORCED
REMOTE WORK EXPERIMENTS ON
COMPANIES THAT WERE HESITANT TO
DO IT FOR A LONGTIME BEFORE
THAT.
AND SO NOW THE LABOR SHORTAGE IS
FORCING COMPANIES TO GET
CREATIVE ON THE AMENITIES ON THE
BENEFITS THEY OFFER.
SO I THINK SOME JOBS WILL BE
QUITE SUITABLE FOR A FOUR-DAY
WORK WEEK.
I CAN THINK OF ANALYTICAL
CREATIVE JOBS TAKE A BREAK TO
REFLECT ON THE TASK AND SEEING
THE BIGGER PICTURE CAN MAKE A
DIFFERENCE.
AND YEAH, IT'S TRUE SOME PEOPLE
WILL SAY THEY CAN ONLY BE
PRODUCTIVE FOR A FEW HOURS AT A
TIME PUSHING WORKERS TOO HARD
CAN HAVE NEGATIVE CONSEQUENCES.
IT'S TRUE THERE IS NO
ONE-SIZE-FITS-ALL.
BUT THERE'S DEFINITELY ROOM FOR
COMPANIES TO BENEFIT FROM A
SYSTEM LIKE THAT.
>> WHAT ARE SOME OF THE BENEFITS
FOR THE EMPLOYEES, TOM, OF
HAVING --
BEN OF HAVING A FOUR-DAY WORK
WEEK, LESS STRESS AND OTHER
STUFF THAT YOU CAN MANAGE ON THE
FIFTH DAY WHAT ARE THE PROS?
>> I THINK THAT IS PART OF IT.
IF YOU THINK ABOUT HOW THAT
WE'RE TALKING ABOUT ATTRACTING
TALENT, YOU CAN EXPAND THE
TALENT POOL BECAUSE SOME WORKERS
WHO TAKE CARE OF THEIR CHILDREN
OR FAMILY MEMBERS WORKERS WHO
WOULD LIKE TO VOLUNTEER OR DO A
SIDE JOB ALL WILL VALUE THE
SHORT WORK WEEK AND IT CAN HELP
YOU CREATE MORE DIVERSE
INCLUSIVE WORKING ENVIRONMENTS N
GENERAL IT'S HEALTHIER EMPLOYEES
PHYSICALLY AND MENTALLY TO BE
MORE PRODUCTIVE IN EVERY HOUR OF
THE WORK.
SO THAT MAY MEAN FEWER SICK
DAYS.
MAY MEAN MORE FOCUSED WORK.
IT MAY MEAN CUTTING DOWN ON
UNNECESSARY MEETINGS CUTTING
DOWN A LITTLE BIT MORE.
>> DO EMPLOYEES HAVE THE UPPER
HAND IN THIS JOB MARKET WHEN IT
COMES TO NEGOTIATING PERKS?
>> WELL, RIGHT NOW, UNEMPLOYMENT
IS AN AT AN ALL-TIME LOW IF YOU
TAKE OUT THE SERVICE SECTOR AND
THE HOSPITALITY SECTOR HIT HARD
BY COVID.
WHITE-COLLAR JOBS ARE AT AN
ALL-TIME LOW AND FRANKLY
BLUE-COLLAR JOBS TRUCK DRIVERS
WAREHOUSE WE ARE SEEING THAT
WITH THE SHORTAGES.
YES AT THE MOMENT THEY HAVE THE
UPPER HAND.
BUT I THINK WE'RE STARTING TO
SEE WITH INFLATION SETTING IN
AND THE FED IS GOING TO RAISE
INTEREST RATES THERE IS A
DYNAMIC WE ARE ON A TEETER TO
THER AND IF YOU GO TOO FAR ONE
WAY IT WILL SWING THE OTHER WAY
AND WE HAVE TO BE CAREFUL.
AND WE HAVE TO THINK ABOUT
EMPLOYEES AND HOW HARD THEY WORK
AND THE LEVEL OF CONTRIBUTION IS
THAT IF IT GOES FROM FIVE DAYS
TO FOUR DAYS, THEN YOU HAVE TO
SAY OK, WHAT ABOUT THE PERSON
WHO WANTS TO DO MORE AND WORK
THAT FIFTH DAY TO ADVANCE?
ARE THEY ALLOWED TO?
CAN THEY STILL DO IT THE SAME
WAY ON EMPLOYEE WHO COMES IN ON
THE WEEKENDS.
YOU ARE GOING TO HAVE THE NAY
SAYERS COMPLAINING ABOUT
SOMEBODY WHO IS OUTWORKING THEM
AND WE HAVE TO BE CAREFUL TO NOT
SETUP A SYSTEM THAT REWARDS
MEDIOCRITY.
>> HOW DOES THE FLEXIBLE WORK
WEEK CHANGE EQUITY IN THE OFFICE
MAYBE SOME PEOPLE GETTING MORE
FACE TIME OR THE FOLKS WORKING
FROM HOME AREN'T MAYBE GETTING
THE STAFF CATERED LUNCH,
WHATEVER IT MIGHT BE?
>> I THINK THAT IS A CONCERN IN
GENERAL.
I WOULD SAY THAT THE USE OF
REMOTE WORK THROUGHOUT THE
PANDEMIC HAS ESTABLISHED A
BETTER SYSTEM HOWEVER ONE CAN
CONTRIBUTE, REMOTELY, VIRTUALLY.
AND COMPANIES YOU KNOW SAY THAT
HYBRID IS THE WAY TO GO INTO THE
FUTURE.
AND SO MORE OF THAT NEW
TECHNOLOGY IS READY TO GO IN
ORDER TO ALSO ACCOMMODATE
SETTINGS LIKE A FOUR-DAY WORK
WEEK WORKING MORE STAGGERED
ACROSS THE WORK WEEK.
AND THERE HAVE ALTHOUGH BEEN
DIFFERENT SYSTEMS IN PLACE FOR
PEOPLE CAN PROGRESS IN THEIR
CAREER AT DIFFERENT PACES.
AND I THINK THAT IS ONE WAY TO
ADDRESS TOM'S POINT AS WELL.
>> OK.