MONEY & LIFE

Lowe’s Four-Day Work Week Is Working

By: Krystal Etienne · April 03, 2023 · Reading Time: 3 minutes

The Four-Day Work Week

In August of last year, Lowe’s (LOW) began offering its employees more flexibility by allowing them to work four 10-hour days a week, instead of the traditional five 8-hour days. This decision was made after employees complained about the company’s “chaotic” scheduling system.

Now, Lowe’s associates have the option of working only weekdays, adding a three-day weekend, or breaking up their work week with a day off. The change allows workers to net the same amount of hours, as well as some extra freedom.

Employees’ responses to this increased flexibility has been overwhelmingly positive. In fact, the company vaunted its highest staffing levels seen in three years on its most recent earnings call.

The 100-80-100 Model

While not yet common, the four-day work week is gaining popularity as more and more businesses explore it as an option. Many companies that have experimented with the four-day work week believe that it can actually increase employee productivity and efficiency.

Another similar approach, tested by 33 businesses over a six-month period last year, is the 100-80-100 model. By this principle, employees are paid 100% of their usual pay for working 80% of the time, so long as they complete 100% of their tasks.

This, too, was deemed a success. 97% of the employees who participated wished to continue with the new schedule.

Happy Employees, Happy Business

The four-day work week hasn’t worked for everyone. Under the traditional five-day work week, the occasional day off could be taken more easily, while at least one Lowe’s employee found the new system left less wiggle room. Fortunately, the flexibility goes both ways — the worker was able to revert to the five-day work week just as easily.

The four-day work week has been studied extensively in recent years, with a notable experiment conducted from June to December 2022 involving almost 3,000 workers at 61 companies. The results of this study showed that companies reported an increase in productivity, team culture, and morale, while employees reported improvements in their health, finances, and relationships.

In other words, this transition can positively serve workers and businesses alike. There is no guarantee which companies, if any, will ultimately adopt this new approach. But with such strong benefits, Lowe’s could very well be a microcosm of a workplace trend headed your way.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS23040301

TLS 1.2 Encrypted
Equal Housing Lender