Four-day Work: The Benefits for Employees, Executives, and Clients

In July and August 2022, PwC Cyprus implemented the four-day working week for the first time, thus extending by one day (Friday) the employees' free personal time. This targeted action falls within the framework of our efforts for the improved well-being of our people, but also for a better balance between their professional and personal lives.

The results of this pioneering practice were especially satisfactory, both for the employees themselves, as well as for the organization's leadership team.

In an internal survey we conducted, 77% of PwC Cyprus employees reported that they managed to avoid working at all on most Fridays, while 95% reported that the four-day workweek had a positive impact on them. At the same time, 65% stated that their productivity increased during that period, and 34% that it remained at the same levels. Moreover, 61% reported that client service capacity remained at the same high levels, while a significant percentage of 37% stated that client service had improved! Overall, 85% of employees answered that they managed to implement their workload in four instead of five working days, while 93% said that their leaders were supportive of this distinct effort.

Equally important were the findings of the survey among the heads of departments at PwC Cyprus. 97% said their teams' productivity either increased or remained the same during the four-day work week period, while 91% reported that the morale and well-being of their people were positively affected. Altogether, department leaders reported that the level of client service was positively affected or remained the same. There was no positive response to the question of whether client service was adversely affected.

At PwC Cyprus, our abiding goal is to further enhance the well-being of our people. We desire, seek, and strive for our people to be happy and feel fulfilled with their work, at all levels. The innovation of four-day work strengthens the flexible and hybrid work model we apply as an organization to a further extent, reconfirming our human-led strategy.

Philippos Soseilos, CEO of PwC Cyprus, has already announced to the organisation’s people that the four-day workweek will also be implemented in 2023 for the months of July and August. We are positive that this year the people of PwC Cyprus will embrace this effort anew, and enjoy the benefits of the flexible work model that aims at a better working environment and, thus, a better quality of life.

By Anna Loizou, Partner, Head of Human Resources, PwC Cyprus.