[Jjinbit] "A Work System That Finds Meaning in Work Is Important... AI Could Help Introduce a 3-Day Workweek" [Office Shift] (37)

Alex Sujeong Kim Bang Podayweek Global Partner Interview
"Changed Views on Work Due to COVID-19... Redesigning Time and Space"
"Within 10 Years, 50 of the Fortune 500 Companies Will Adopt a 4-Day Workweek"

Editor's Note[Jjinbit] is a shortened form of 'Jung Hyunjin's Business Trend' and 'Real Business Trend,' a segment that showcases trends in changes in work. The segment within Jjinbit called 'Office Shift' closely examines changes in offices triggered by the COVID-19 pandemic and aims to lay the groundwork for exploring answers to new work styles through experiments we have conducted together. It will be delivered to you every Saturday or Sunday. After 40 installments, it will also be available as a book.

The American weekly magazine Time selected the nonprofit organization '4 Day Week Global' as one of the '100 Most Influential Companies in the World in 2023' last June. This nonprofit, with only 10 employees, was listed alongside global giants such as Apple, Microsoft (MS), and Disney. The reason this organization attracted attention was clear: it is conducting the world's largest experiment related to the introduction of a four-day workweek.

Alex Soojung-Kim Pang, partner and global program director of 4 Day Week Global, evaluated in an interview with Asia Economy on the 15th (local time) that the COVID-19 pandemic made people realize that a 'different world' is possible regarding work environments. He explained, "It means redesigning working hours and spaces to make work more satisfying, humane, and productive than before." The four-day workweek he is experimenting with is a representative work style that helps create a better future.

Alex Soojung-Kim Pang, Partner and Global Program Director at Four Day Week Global

Partner Pang is a technology futurist and consultant active in Silicon Valley who has emphasized the importance of reducing working hours. He gained attention domestically as the author of books such as Shorter: The Era of Working Only Four Hours a Day Is Coming, We Don't Just Work, and Why Have I Become So Distracted? Now that various work styles have become easily accessible due to the pandemic, we asked him about how our work will change in the future, as he has been leading experiments on new work styles.

◆ "A Major Change in How Work Fits into Our Lives"

As we enter the endemic era, it seems that workers in Korea, the U.S., and Europe have returned to previous work styles. However, Partner Pang firmly stated that we will not return to the pre-COVID-19 work world. He emphasized that only some managers who are attached to the old system want to revert. His assertion reflects the belief that the pandemic has significantly changed workers' perceptions of work and careers.

"The most important thing is that our assumptions about work and how quickly these assumptions can change have been completely overturned. COVID-19 showed many companies that they could work faster and more deeply than they thought. They introduced new collaboration tools, improved internal processes, moved some tasks online, and experimented with new work schedules and spaces. More broadly, the pandemic raised awareness of the need to address inequalities, structural problems, burnout, and work-life balance issues faced by workers."

"Also, we are creating new perceptions about how work fits into our lives and identities. Workers now know that 'work won't love you back.' Overworking is no longer a badge of honor, burning out for your employer is not proof of professionalism, and your passion for work does not mean you must overwork or constantly prioritize work above all else."

Partner Pang emphasized that this change is on a different level than simply changes in office spaces. When asked how our offices have changed compared to 10 years ago, he responded:

"More important than how our workplaces, offices, HR managers, or executives' concerns have changed in the last 10 years is the major change in how we think about work and how work fits into our lives."

So, based on this changed perception, what should companies and employees focus on to build a new work system that satisfies both? Partner Pang answered:

"The most important element of a work system that benefits everyone is enabling people to find meaning in their work. People should have autonomy to choose how they work or organize their time, independence to find solutions when problems arise, and smooth communication about daily tasks, workflows, and what matters to others regarding individual work."

◆ "Within 10 Years, 50 of the Fortune 500 Will Adopt a Four-Day Workweek"

The four-day workweek was a future work style Partner Pang identified even before the pandemic. He believed that reducing working hours in the digital age is a system that allows efficient and creative work while protecting personal life. In an interview with Asia Economy last year, he emphasized that "reducing working hours is no longer a utopian ideal but a matter of implementation."

(Reference: "Four-Day Workweek Is Not a Utopian Ideal... Just a Matter of Implementation" [Jjinbit])

In this interview, he predicted that within the next 10 years, at least 50 of the Fortune 500 companies selected by Fortune magazine in the U.S. will adopt a four-day workweek. He also expected some countries to implement the four-day workweek.

"(The industries most likely to adopt the four-day workweek) will probably be professional or creative service sectors. Companies in these sectors in the U.S. and Europe have developed business models during times when the labor market expanded and universities steadily produced many graduates, allowing them to continuously secure young and easily exploitable talent. The next 10 years will see a decrease in such talent, forcing companies to shift strategies toward developing and retaining these workers."

Alex Soojung-Kim Pang, Partner and Global Program Director at Four Day Week Global

4 Day Week Global has been conducting the world's largest four-day workweek experiment since last year, starting in the UK and expanding to the U.S., Canada, Ireland, Australia, and New Zealand. The experiment's core is to reduce working hours to 80% to enable a four-day workweek while maintaining 100% of wages and productivity. The organization explains that most participating companies have seen increased work-life satisfaction as a result.

In Korea, experiments with the four-day workweek have also emerged since the pandemic. Even if not a full four-day workweek with fewer workdays per week, experiments to reduce working hours are ongoing domestically and internationally. For example, Woowa Brothers, operator of 'Baedal Minjok,' introduced a 32-hour workweek last year, and Samsung Electronics declared it would partially implement a four-day workweek starting June this year.

◆ AI Boosts Productivity... Is a Three-Day Workweek Possible?

The four-day workweek has gained even more attention this year. With the surge of generative artificial intelligence (AI), there is speculation that increased work productivity could allow work to be completed in a shorter time, enabling the adoption of a four-day workweek. We asked Partner Pang, who has planned and executed four-day workweek experiments, for his opinion.

"It depends on who owns the AI (or other new technologies) and how they decide to deploy it in workplaces and markets. If large corporations use AI to replace employees and managers decide to use technology instead of staff, many people will be pushed out of jobs. Also, we should not underestimate that AI will enable companies to produce an enormous amount of products at virtually no cost."

"But if workers decide how to use AI in the market, they will likely use it more to automate relatively uninteresting tasks. This will allow them to focus on more interesting and high-value work. In a well-educated system where employees understand their strengths and limitations, these AI-driven changes could help transition to a three-day workweek."

I actually met a CEO of a company implementing a four-day workweek and asked what they would do if other competitors also adopted the four-day workweek, negating it as a competitive advantage. The CEO replied, 'The answer is clear. We will switch to a three-day workweek.'"