There’s been a lot of conversation online lately about the four-day work week and its benefits. Forbes, for example, released an article in September 2021 titled “What The Conversation About The Four-Day Work Week Means For Commercial Real Estate.” It explores the topic from a higher-level viewpoint and from a commercial real estate prospective.
A reduction from five days to four days is obviously a big change with many different resulting effects. What would it mean for you and your role? Let’s take a look and then discuss how CRE software makes it more feasible.
Advantages of a Four-Day Work Week
Reducing the standard five-day work week by a day certainly has its proponents, both inside and outside the CRE industry, and many of them make a strong argument. Proponents will argue it allows for better work-life balance and more time spent enjoying relaxing activities. Here are some of the other advantages a four-day work week would provide for CRE professionals:
- Increased productivity, due to knowing there are only four days to get work done.
- A more equal workplace, since everyone will be working around the same hours per week (ideally). No more spending 60 hours a week when your coworker is spending 40.
- Smaller environmental impact, with one less day for utilities, commuting and so forth.
- It’s easier to engage, since there is less stress and better work-life balance.
Disadvantages of a Four-Day Work Week
While there are several pros to the four-day work week, there are some cons to consider as well beyond just sticking with the status quo. Here are some of the disadvantages of a four-day work week for CRE pros:
- Tenant/client complaints, since there is less availability.
- Unrealistic expectations, if employees are expected to work as much as they do in a five-day work week.
- Fewer opportunities for CRE pros, as there is one less day in the week to identify opportunities, perform negotiations and close deals.
How CRE Software Helps
While there are some disadvantages to the four-day work week, CRE software can make it a realistic consideration. With Quarem, for example, you can automated metrics, reports and market data, tasks that would have otherwise taken up a significant amount of your time. With CRE software, a four-day work week is feasible since it makes you more efficient and takes away some of the grunt work associated with daily tasks and number crunching. This allows you to take an extra day off and focus on important tasks the four days you’re working.
If you’re interested in learning more about Quarem and how it can increase your efficiency, request a demo today.