The success of the four-day workweek in Cyprus

The four-day workweek has numerous benefits for the organisations that implement them, both in terms of employee satisfaction, but also to their customers, according to a piece of analysis released this week by PwC Cyprus chief people officer Anna Loizou.

In July and August 2022, PwC Cyprus implemented the four-day workweek for the first time, in effect extending their employees’ free, personal time by one day, allowing them to also take Friday off.

The company explained that this targeted action falls within the framework of its efforts for the better well-being of its members of staff, while at the same time allowing them to improve the balance between their professional and personal lives.

“The results of this pioneering practice were very satisfactory both for the employees themselves and for the organisation’s leaders,” Loizou said.

“In an internal survey we conducted, 77 per cent of PwC Cyprus employees said that they managed to avoid working at all on most Fridays, while 95 per cent reported that the four-day work had a positive impact on them,” she added.

Moreover, Loizou explained that at the same time, 65 per cent of PwC Cyprus employees stated that their productivity increased during this period while 34 per cent said that it remained at the same levels.

In addition, 61 per cent of employees reported that customer service ability remained at the same high levels, while a significant percentage of 37 per cent stated that customer service actually improved.

What is more, 85 per cent of employees stated that they managed to implement their workload in four working days, rather than five, while 93 per cent said that their leaders were supportive of their effort to pull this off.

Equally important were the findings of the survey among the heads of departments at PwC Cyprus, Loizou said, which revealed that 97 per cent said their teams’ productivity either increased or stayed the same during the four-day work period, while 91 per cent said the morale and well-being of the people in their teams were positively affected.

According to PwC Cyprus analysis, the company’s department heads said that the level of customer service was positively affected or remained the same.

Further to this, no respondent to the internal survey stated that customer service was adversely affected while the four-day workweek was in effect.

“At PwC Cyprus, our perennial goal is to further enhance the well-being of our people. We want, seek and strive for our people to be happy and feel fulfilled with their work at all levels,” Loizou said.
“The innovation of four-day work further strengthens the flexible and hybrid work model we apply as an organisation, confirming our people-centric strategy,” she added.

As already announced to the people of PwC Cyprus by company CEO Philippos Soseilos, the four-day work will also be implemented in 2023 for the months of July and August.

“We are sure that again this year the people of PwC Cyprus will positively embrace this effort, enjoying the benefits of the flexible work model that aims at a better working environment and, by extension, a better quality of life,” Loizou concluded.