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Imagine I manage a business where my employees earn $1000 a week, working five 8-hour days. Suppose my profit margin per employee is 10%, resulting in a $1100 return for each one.
Now, if a new law mandates that I pay my employees $1000 for a 4-day workweek, my operation could start incurring losses. The question then arises: where would the necessary additional funds come from? Likely, I'd have to increase my prices. I'm open to considering this arrangement, but I seek clarity on the strategies to mitigate such financial gaps. Should a 4-day workweek lead to a 20% hike in prices, I'm uncertain about the benefits of this change...
I'm all for a more healthy work/life balances, but typically businesses don't like to incur extra expenses, so I would predict if workers are present 20% less, businesses would charge 20% more to make up the gap, which means workers would end up needing to earn more money, which may lead them to work more hours, making this change pointless.
If this came with some consideration from the federal government, like "we will give a 20% tax break to businesses that do this" I would consider the idea funded and I think it may work. Otherwise, this just feels like voting our way into price increases.
I think you might be making a fundamental assumption that quality of each hour of the day is the same.
Maybe for a particular business it does not matter, they just need an employee on the clock to cover time that customers may come in, but I think many businesses have tried this out, and found that they get about as much from their employees in 32 hours as they do in 40 hours.
I think it helps to give people time to rest and deal with life so that they can be more focused and thoughtful when they are with you.
In manufacturing, there is a piece rate for every SKU. At places I have worked this is a very carefully tracked number, as it will inform the production rate which will then affect inventory. A gain of 20% would be extremely major.
If this ends up working out, awesome. I just fear that cost of living has risen so much lately and this will be weaponized into yet another excuse to charge consumers more. "Of course we have to charge more, our workers are here less!"
You're assuming that labor is 100% of operational costs which, especially to a business like you're describing, is very very far from reality.