ReportWire

Tag: workweek

  • GIFS to Get Your Week Going!

    [ad_1]

    GIFS to Get the Week Going!

    Mondays hit different for everyone. Some of us are rolling into the week with a fresh coffee and good intentions, others are already one email away from losing it. Whether you’re clocking in at the office, grinding on a job site, wrangling kids, serving tables, editing videos, or just trying to make it through another batch of “urgent” Slack messages, the start of the week always brings its own kind of chaos.

    That’s where these GIFs come in for a little bit of motivation, a little bit of sarcasm, and a lot of “yeah, same.” From caffeine-fueled starts to slow-motion meltdowns, this collection is here to remind you that we’re all just doing our best to make it to Friday.

    Whatever stage you’re starting your work week in – enjoy the little things, help others, smile over frowning, and overall – enjoy yourself. Nobody gets out alive.

    [ad_2]

    Ryder

    Source link

  • JPMorgan, Bank of America Set 80 Hour Week Limit: Overwork | Entrepreneur

    JPMorgan, Bank of America Set 80 Hour Week Limit: Overwork | Entrepreneur

    [ad_1]

    An 80-hour workweek means working from 8:30 a.m. to 10 p.m. six days a week — not the norm for most Americans, who log an average of 34 hours per week.

    But for some junior bankers on Wall Street, an 80-hour week maximum workweek will be a relief.

    JPMorgan Chase is now instituting a limit to working hours after new investigations showed that junior investment bankers are putting in more than 100 hours per week.

    Bank of America is also trying to enforce an 80-hours per week cap with a new time reporting tool, the Wall Street Journal reported on Wednesday, citing anonymous sources. The tool will reportedly roll out next week and ask junior bankers to log daily hours instead of weekly hours. It also asks for more detail about what the bankers are working on and which senior employees are managing them on each assignment.

    The changes come after the death of 35-year-old Bank of America junior banker Leo Lukenas III earlier this year. Lukenas joined Bank of America in 2023 as an associate and passed away in May 2024 from a blood clot in his heart. Though the coroner’s report didn’t link the death to overwork, Lukenas had reportedly been working 110-hour weeks on a $2 billion acquisition for the bank and indicated before his death that he wanted to leave because of the long hours.

    Related: JPMorgan Says Its AI Cash Flow Software Cut Human Work By Almost 90%

    A WSJ investigation in August reported that Bank of America bosses routinely pressured junior bankers to lie about the number of hours they worked, circumventing policies implemented a decade ago after the death of an investment banking intern in Bank of America’s London office.

    The 21-year-old intern, Moritz Erhardt, had epilepsy and died from an epileptic seizure. He had been working until 6 a.m. for three days in a row. Bank of America subsequently asked junior bankers to take at least four weekend days off per month and to take their yearly vacation time.

    After the investigation, Bank of America asked junior bankers to go to higher-ups or human resources if managers overworked them. The new time reporting tool is also intended to make it harder for junior bankers to downplay how many hours they spend in the office and keep managers more accountable to the bank’s limits.

    Related: Bank of America Threatens Workers Who Won’t Return to the Office With ‘Disciplinary Action’ — Read What the Letters Said

    Goldman Sachs and Morgan Stanley still have no policy limits on how many hours analysts and associates can work, but Goldman has a “protected Saturday” policy that blocks out Friday from 9 p.m. to Sunday at 9 a.m. as time off.

    [ad_2]

    Sherin Shibu

    Source link

  • 77 Percent of Employees Want a 4-Day Workweek | Entrepreneur

    77 Percent of Employees Want a 4-Day Workweek | Entrepreneur

    [ad_1]

    The five-day workweek has been the U.S. law for 80 years, but a majority of Americans want to switch over to a four-day workweek, according to a new Bentley-Gallup Business in Society Report.

    Seventy-seven percent of U.S. workers surveyed say a four-day, 40-hour workweek would have an extremely or somewhat positive effect on their well-being. Employees also said they wanted their companies to offer mental health days (74%) and limit the work they’re expected to perform outside of work hours (73%).

    Some companies, including Amazon, Basecamp, Microsoft, and Panasonic, offer four-day workweek options, but most businesses are sticking with the tried-and-true five-day model. Why? Experts say it’s a combination of lower productivity (although studies show this not to be the case), staffing issues, increased costs, and complex changes to operations.

    Plus, there’s just an overall resistance to change.

    “It’s been almost 100 years we’ve operated with the current workweek,” Juliet Schor, an economist and sociologist at Boston College who has researched the four-day workweek, told The Washington Post. “I don’t think we can expect it [to change] overnight.”

    A brief history of the five-day workweek

    Responding to pressure from labor unions, Henry Ford was one of the first employers to standardize a five-day, 40-hour workweek in 1926. Ford also saw that minimizing hours would lead to a prosperous middle class, the backbone of his factory workers. In the early days of the Industrial Revolution, Americans worked like dogs, averaging 100 hours per week, six-days a week—something needed to change. In 1938, President Franklin D. Roosevelt passed the Fair Labor Standards Act, which made the 40-hour workweek the law of the land.

    How a 4-day workweek works

    But in recent years, many companies have adopted a four-day workweek in which employees are allowed to work 10-hour workdays, four days a week, instead of eight-hour workdays, five days a week. The pay remains the same, but the schedule changes, allowing workers to enjoy an extra free day each week.

    Four-day workweeks are popular among millennials and Gen Z, who put a strong value on work-life balance. In fact, 92% of young people say that they would work longer hours in exchange for a four-day workweek, according to a Bankrate survey.

    Last year, more than 33 companies in the UK did a four-day workweek trial run for six months. Afterward, most of the companies said they would not go back to the five-day workweek, reporting that productivity and employee happiness were up.

    Slow to adopt

    Despite the enthusiasm many employees have for a four-day workweek, their employers are not as jazzed. Only 15% of U.S. workers say their companies offer four-day weekweeks, according to a 2023 survey by ADP.

    Change is hard, especially in a volatile economy where businesses don’t want to take chances. But industry analysts say that ultimately, the more workers demand four-day workweeks the more their bosses will bend to their will. It’s all a matter of supply and demand, something companies know all about.

    “Once some companies start offering [four-day workweeks] and once many workers start to apply for those positions … it might actually end up putting more pressure on companies to introduce this non-traditional perk,” Sarah Foster, a Bankrate analyst, told CNBC.

    [ad_2]

    Jonathan Small

    Source link

  • The 4-Day Workweek Could Make Burnout Worse

    The 4-Day Workweek Could Make Burnout Worse

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The clamor for a shorter workweek is probably something you’ve read about in countless articles by now. There’s even a running list of companies provided by Newsweek that have incorporated this as part of their work model.

    “With staff wellbeing at the forefront of our minds, we have been experimenting with a more modern approach to work focusing entirely on outcomes rather than a more traditional input measurement,” Adam Ross, Awin’s chief operating officer, explained in 2021.

    [ad_2]

    Aytekin Tank

    Source link