A Four-Day Work Week is Gathering Momentum

The overwhelming majority of young people are now in favor of working four-day weeks, according to a new survey.

According to a CNBC/Generation Lab poll of 1,033 people between the ages of 18 and 34, 81 percent said it was their belief that a four-day week would make their workplace more productive, while only 19 percent said productivity would suffer.

A four-day working week would reduce the usual work schedule to 32 hours instead of 40. Employees, in most cases, are still required to complete their workload within 80 percent of the original time frame while receiving their full salary, according to 4 Day Week Global.

The concept has already been tested and implemented at some American companies, including Kickstarter, Bolt and Dolby, and the idea is certainly gaining traction throughout the country and elsewhere around the world.

A recent Newsweek-commissioned poll by Redfield & Wilton Strategies found similar results to the CNBC poll. The survey, conducted among 4,000 eligible U.S. voters from April 6-7 this year, found that 63 percent of U.S. workers advocated transitioning to a four-day work week, with 46 percent saying it enhances productivity.

Among all age demographics, Millennials were most in favor of having fewer days of the week chained to their jobs, with nearly three-quarters (74 percent) saying they wanted a reduced working week. Almost half (44 percent) of the Millennials surveyed strongly endorsed the concept, while an additional 30 percent showed general support. A mere 8 percent of Millennials opposed the idea.

Some American lawmakers are onboard with reducing the average working week. Bernie Sanders, chair of the U.S. Senate Committee on Health, Education, Labor, and Pensions, has recently renewed a push for four-day weeks in Congress.

"The sad reality is, Americans now work more hours than the people of most other wealthy nations. And we're going to talk about what that means to the lives of ordinary people," he told lawmakers at one committee meeting.

The general shift toward favoring four-day weeks has been notable, according to Jeremiah Mostrom, chief revenue officer at Axios HR. "In recent years, there's been a notable shift with employees valuing work-life balance and flexibility as much, if not more, than compensation," he told Newsweek.

The benefits aren't just touted for employees, however. "Some businesses that have embraced a four-day work week have seen boosts in productivity, reduced turnover rates, and decreased operational expenses linked to shorter workweeks," Mostrom continued. "Contented and engaged employees can lead to better retention rates, cutting recruitment and training costs."

However, the change may not be suitable for every workplace. "Depending on the industry, compressing the same amount of work into fewer hours could lead to burnout, making it crucial to support the shorter workweek with efficient workflows and streamlined processes," Michael Baynes, co-Founder and CEO of Clarify Capital, told Newsweek.