PwC Hungary will begin testing the four-day week during the second half of June in a trial that will last until the end of August. Some 280 staff members from the consultancy’s audit teams will work from Monday to Thursday and then enjoy a three-day weekend.
According to László Radványi, partner and head of assurance services at PwC Hungary, the business line will implement the “32-hour summer working week by using a working time frame and shifting working hours, so employees’ basic salary is not affected.”
Assurance partners took the decision after receiving employee feedback on work-life balance and discussing the matter with employees. Radványi told the Budapest Business Journal that the firm wants to “help our colleagues to recharge their batteries and achieve a healthy work-life balance.”
Results from PwC Hungary’s 2023 Employee Preference Survey suggest that flexible working hours are vital for recruiting and retaining employees, another reason why the company is looking to pilot the four-day work week.
“For years, the company’s management has been trying to provide a flexible framework, in line with the needs of employees, including the possibility of working from home and hybrid working,” the partner says. “Our strategic goal is to enhance the employee experience, to build an attractive, likable company where there is not only the opportunity for outstanding professional development, but also it is a great place to belong,” Radványi adds.
“We’ll see what impact it has on colleagues, clients and the organization as a whole,” he says. “We will monitor, measure and analyze the impact of the new working arrangements and decide on the way forward based on our experience.”
Meanwhile, Magyar Telekom ended its pilot of the four-day workweek after determining that expectations were not met. The test lasted for one and a half years, involving 300 employees, 6% of all employees at the company, from various branches. Those who participated in the experiment were paid the same amount as employees following the standard work week.
According to a company press release, Magyar Telekom has publicly reported that the four-day workweek cannot be applied identically to all employees as some worked less efficiently under the test model. The telco noted that collaboration between branches was also hindered due to the differences in hours.
Elsewhere in Europe, Germany, a country that hosts 2,500 Hungarian university students, is initiating a trial of the four-day workweek across 45 companies nationwide. The German government says it hopes to address economic concerns such as the labor shortage, particularly in rapidly growing science, technology, engineering and math fields. Germany has been recruiting foreign workers to account for the shortage of 320,000 STEM specialists.
“Engineering is in high demand in Germany mainly because it’s a key part of its economy, especially in sectors like automotive and manufacturing. Plus, Germany’s high-quality education system keeps supplying fresh talent, so the demand keeps growing,” says Alma Miftari, head of research and statistics at Studying-in-Germany.org.
This article was first published in the Budapest Business Journal print issue of April 19, 2024.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
