In the war for talent, money is important, but not enough. If you're serious about attracting and keeping top talent, look at other drivers - including flexible work. In Iceland, 90% of employees now enjoy a four-day workweek, working fewer hours with no pay cut and no loss of productivity. In fact, productivity went up, well-being improved, and workplaces became more equitable.

https://swiy.co/go-be-like-iceland

I’m speaking soon at the AHRI (Australian Human Resources Institute) conference in Perth, talking about the future of work. One of the four key elements of the future of work is attracting the best people, and one of your most important levers in that area is offering more flexible work options.

During the pandemic, flexible work meant mostly working from home. And that (often in the form of hybrid work – some days in the office, some from home) is still one kind of flexible work. But it’s not the only form of flexibility.

For example, in Iceland, about 90% of workers who enjoy a four-day work week. They work four days a week rather than five, and still get paid 100% of their wages or salary. In return, they are expected to deliver 100% of their productivity.

This started with a small pilot project in 2015, which worked so well they extended and expanded it in 2019. And now, it’s spread to the whole country. This is not mandated by law, but rather encouraged through workplace agreements. And now it’s part of their workplace culture.

Strictly speaking, they don’t get a full day off each week. Their 40-hour week is now 36 hours, so they work four 9-hour days rather than five 8-hour days. So each day is a bit longer, but they still work fewer hours, for the same money and the same productivity.

In fact, the research shows productivity has either stayed steady or, in some cases, even improved. In addition, this arrangement has dramatically improved mental health and well-being, work-life balance, and gender equality.

This has been a huge success for Iceland, and is just one of the many models for flexible work.

Could you do the same?

Iceland is a small country, with only about half a million people, so we can’t necessarily extrapolate it to larger nations.

But that’s not my point.

We don’t have to do it as a country.

YOU could do it for your organisation.

Or maybe even just for your team.

In the war for talent, money is not the only driver. Flexible work is one of the most in-demand requirements for employees.

Esepcially for Generation Z, who will be 30% of the workforce by 2030.

Some managers and leaders will push back and say Gen Z are entitled, privileged, unrealistic, and need to pay their dues before they can start demanding these "perks".

In return, many Gen Z’s are saying, "We don’t care! If you don’t provide that, we’ll find somebody else who does". And they will.

Just because others in your industry aren’t doing it, that’s no reason for you not to do it. In fact, that’s exactly why you SHOULD be doing it, as a competitive advantage for attracting the best people.

Why not be a pilot project for your industry?

Just an idea. Have a go. Be the Iceland for your industry, and it will put you ahead of the game in the future of work.

Register for the virtual masterclass:

https://swiy.co/go-be-like-iceland

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