UK businesses could benefit from £62.7bn profit boost with four-day week, research finds

With the UK Government recently passing a bill enabling employees to request a shorter work week, research by Sopro has revealed that a four day week could boost profits for many businesses.

2,900 employees from 61 organisations recently participated in the UK’s largest four-day week trial, which saw the businesses involved benefit from a 1.4% revenue increase over the seven-month period, despite maintaining 100% of staff wages.

According to Sopro’s research, in the wholesale and retail trade, the repair of motor vehicles and motorcycles industry had the largest current turnover of £1.5m, standing to gain the most in absolute terms, with an additional £21bn in revenue.

Manufacturing followed, with a turnover of £608.2bn and a projected increase of £8.5bn.

The professional, scientific and technical activities sector, with £458.1bn in current turnover, was expected to grow by £6.4bn.

The construction industry, with a current turnover of £371.1bn, was forecasted to increase by £5.2bn, while the information and communication industry, which has a turnover of £355.7bn, could see a £5bn boost.

The administrative and support service activities sector, at £315.3bn, could gain £4.4bn in revenue.

The mining and quarrying, electricity, gas and air conditioning along with water supply, sewerage, waste management and remediation activities sector, with a turnover of £202.3bn currently, was projected to grow by £2.8bn, matching the projected gains for the transportation and storage industry, which has a turnover of £197.4bn.