Burnout from work-related stress is at an all-time high with more than 40% of full-time, desk-based workers having experienced it at least once in the past two years, according to a global study by independent think tank Future Forum.
And while the same study shows that 70% of professionals feel that employers aren’t doing enough to prevent burnout, Samsung Electronics differentiates itself by taking a bold step towards prioritizing the well-being of its employees through its innovative 'One Friday Off' policy.
Implemented last June 24, Samsung’s policy allows its non-factory, full-time employees in South Korea to take one Friday off every month. Some Samsung employees have started calling the management-mandated holiday "Family Day," while others are calling it "Development Day”.
Beyond encouraging a healthy work-life balance among its employees, Samsung also hopes the new policy will boost its employer brand and recruitment. In an interview with local media, Samsung Electronics Chairman Lee Jae-yong said, "Through this policy, we hope to bring in good talent and create a flexible work culture for the company so that we can easily adapt to changes."
A step in the right direction: longer working hours do not necessarily equate to higher productivity
A study from Stanford University found that productivity per hour declines sharply when a person works more than 50 hours a week. After 55 hours, productivity drops so much that putting in more hours would be pointless.
By giving its employees an additional day off each month, Samsung demonstrates a deep understanding of the importance of rest to promote productivity, boost innovation, and cultivate a happier and more fulfilled workforce.
With its 'One Friday Off' policy, Samsung is the latest advocate to introduce a four-day work in South Korea. Fellow chip maker SK Hynix also started offering employees a Friday off once a month provided they average 40 hours a week. Meanwhile, CJ ENM, one of South Korea’s largest content companies, gives its workers every other Friday off.
Other companies would do well to learn from these South Korean companies’ progressive actions regarding the value of downtime.