https://www.thelandsite.co.uk/files/articles/6c9637afc82011ea98240afeec538f48/c2_7.jpg 668

What Would a Four-Day Working Week Mean for the Leisure Sector?

Posted by Colliers on 24th March 2023 -

title

When the campaign around the four-day working week was started by 4 Day Week Global hybrid working was for the few and not the many. However post-pandemic much has changed in the way that many sectors operate these days and much of that is in reaction to the pattern of office workers. 

Most corporate firms have now adopted a hybrid working model, while there’s variations around how many days staff are expected to work in the office, there’s definitely a marked increase in working from home which has had a significant impact on the hospitality sector, particularly the food and beverage market. 

Many operators have seen a switch in their peak periods. City centre pubs for example are finding that their busiest day has moved from Thursday after work drinks, to Wednesday after work. And Friday nights are not as profitable as they were in 2019, however on Saturdays there’s still a good turnout. 

Whereas coffee shops and restaurants in suburban areas are finding that their weekday trade is more regular and sustained than prior to the pandemic, and it’s no longer just a weekend retreat, as customers head into their local town centres more, potentially run personal errands on their lunch breaks while working from home, as they strive to secure a better work-life balance. 

The opportunities of a four-day working week

We’ve heard that the many of the companies that trialled the six month four day week scheme are sticking with the programme – but what impact would a four-day week have on the hospitality sector? 

There are probably two main impacts to consider: 
1. The demand on services 
2. Staffing

With more time not working there’s potentially significant upsides for the hospitality industry, customers will have more time on their hands (and the same amount of disposable income) that they will be able to prioritise their leisure time more. You can imagine that people will go out shopping, eating and drinking more with their new found free time, or take the opportunity to go to the gym or catch a film. Also there’s more opportunity for a short getaway to somewhere in the country, which will be great for the UK’s hotel industry as well. 

The flip side of customers having additional leisure time on their hands is that the demand for staff in hospitality businesses will increase, further exacerbating the labour shortage which has affected the sector in the post-pandemic period. Operators will need to refine their model to make as efficient use as possible of the available staff hours, and unless ways can be found to attract significant numbers of new recruits then the dream of a four-day working week will remain just that, a dream, for employees within the hospitality and leisure sectors.

So, if a four-four-day working week leads to happier staff and no loss of productivity then I guess the question is, what are we all waiting for? 

Probably much like the pandemic, something to force our hand. Another change in the mood regarding employee benefits perhaps which sees the four-day week become more of the expected norm, much as hybrid working is now. Or perhaps some more big name firms leading the way in taking up the mantle. Whenever it happens, I’m sure the hospitality industry will also thrive from it, it’s proven itself to be adaptable in recent years, and will continue to do so, but we need to make sure that sufficient staff can be recruited, trained and motivated by inspiring leaders, and that the rewards are attractive enough for young adults, who often have their first work experience in the hospitality sector, to see it as a long term career option. 

Read article on Colliers website


Discover more real estate services and properties on The Landsite, the leading hub for the real estate sector.


Enquiries Team

Global leader in real estate services and investment management.

Link to Colliers business profile

26th April 2024
Goodman Purchases Last Browns Lane Opportunity
Colliers, on behalf of vendors JLR, has disposed of the final plot at Browns Lane Coventry.
Read more
25th April 2024
How to Finance an Auction Purchase
How can I finance a property purchased at auction?
Read more
16th April 2024
European Living Snapshot | April 2024
Our latest living sector report provides insights into the various factors shaping investment decisions and activity across European markets.
Read more