This week, side hustles in India, the future of industrial work, the financial benefits to affordable childcare, and the power of unifying your organization. Read this week’s trends from the world of work.

 

The world is slowly emerging from a pandemic that prompted many people to re-evaluate their work-life balance. As a result, some companies and workers are asking: can we work less?

Enter: the 4 day work week. This week, one French company shares their overwhelmingly positive results from their year-long trial of the four day workweek.

What else matters this week?


Nestle justifies staying in Russia, as criticism mounts.

The rush to use fossil fuels amid the Ukraine war is “madness,” officials say.

How to show off your soft skills when applying for jobs.

Goldman Sachs becomes the first major Wall Street bank to execute over-the-counter crypto transaction.

How to use AI to streamline recruitment processes.

We’ve got a full breakdown of all the top headlines you can’t miss this week.


#1. How the four-day workweek boosted revenues by 40% for one French firm.


When French company LDLC decided to trial the four-day workweek on the same pay as before, boss Laurent de la Clergerie knew he risked hurting his bottom line.

“Some people took me for a crazy person,” he told WEF.

But one year later, Clergerie the opposite has happened. The company has increased its annual turnover by 40% without hiring anyone new.

The secret? His approximately 1,000 employees feel trusted, appreciated, and valued. In turn, they’re more productive.

"At the end of the day, it's brought only good things for the team," said 51-year-old de la Clergerie.

Read more in the World Economic Forum.

Photo: Ketut Subiyanto from Pexels

 

#2. “My company is not my family.”


The Great Resignation opened up a dramatic shift in the world of work for so many companies and employees alike. Some workers in the U.S. took advantage of their newfound options by quitting their toxic jobs, others negotiated for a raise, and some…some decided to slowly scale back their working hours.

Some workers saw this as their chance to work less. U.S.-based recruiter Justin, for example, had spent much of his working life putting in 10- to 12-hour days. He didn’t want to keep spending so much of his life dedicated to work, especially after the birth of his first child. So he decided to very slowly scale back.

"I was sweating bullets, but I was like, look, they're not going to fire me," Justin told Insider. "It would take them months to find someone new and train them up. My lessened productivity is better than zero productivity."

For many lifelong overachievers, work has become just that: work. For the first time ever, these professionals are seeing their jobs as a simple source of income to support their families instead of some higher calling that demands all their time and dedication.
“These companies just see you as a resource, not as a person," one IT worker told Insider.

The pandemic has only made it easier for these professionals to put their jobs in perspective, too. Amid a tumultuous labour market and talent shortages, workers feel like they have job security. It’s the perfect time to be a recovering overachiever.

Many people around the globe would call these employees lazy, unambitious, or shiftless. But name calling misses the point. Instead, these workers say they are making a considered, educated decision. They are done letting companies squeeze out extra hours of overtime. Is this the end of hustle culture? Read the full piece at Insider.

Photo: Shubh karman Singh on Unsplash

 

#3. The future of industrial work.


Two narratives exist in the manufacturing world:

First: Manufacturing is a tough industry to be in, and the work is dull and dirty. Machines will take over, eventually.

On the other hand: a new era is dawning over manufacturing, and industrial tech like robots will make manufacturing a key, desirable industry.

Which one is the truth? Of course, there will always be some dull and dirty jobs. But in reality, many modern factories are cleaning up well. In many scenarios, robots are stepping in to pick up grunt work.

According to the Global Lighthouse Network of The World Economic Forum, which tracks these trends, future factories are growing. Technology could help these factories take their production to the next level. Read more on Forbes.

Photo: Jezael Melgoza on Unsplash

 

#4. Affordable childcare would boost women’s retirement savings, report finds.


Women could save up to $118,000 more for their retirement if the Australian government increased subsidies on childcare, according to new research by Industry Super Australia (ISA).

Childcare costs take a big toll on women, especially financially. Now, one study is revealing the exact financial cost for women in Australia. In Australia, the government subsidies up to 85% of childcare costs for lower income households. However, for every percentage point a family earns over $70,000 a year, that subsidies goes down – a lot.

Increasing subsidies could help close the gap between men and women, who retire with an average of a third less than men. According to research by the Grattan Institute, this dramatic fall in subsidy discourages women with small children from working more than a few days a week. Read more in the Guardian.

Photo: cottonbro from Pexels

 

#5. How to unify the old guard and new guard.


Companies and organizations have undergone a great deal of change the past two years. These seasons of change can lead to disruption and fractures within an organization.

One of the most divisive elements of the past two years? The mass exodus of employees from the workplace – and similarly, the significant amount of new hires as companies bring on new workers.

It can be challenging to mend the broken connections and rebuild company culture. How can you start the unification process?

  • Eliminate labels
  • Own the bias
  • Restore broken trust
  • Be welcoming – not threatening

Read more at Harvard Business Review.

Photo: Mapbox on Unsplash

Stay in Touch

Subscribe to our newsletter to get the latest insights on the Future of Work

* indicates mandatory fields

Related

News and Research