Employee Perspective on Transition to Five Day Work Week in the Banking Sector

Abstract

Purpose: It explores factors influencing employee preferences for a condensed work schedule, such as satisfaction with shortened work weeks, willingness to adapt, and socio-economic considerations. Design/Methodology: The research utilized purposive convenience sampling to collect relevant data from employees across various banks in the state of Uttar Pradesh. Data was gathered through visits to bank branches and personal interviews with operational employees, resulting in 300 appropriate respondents. The analysis was conducted using the partial least squares structural equation modeling (PLS-SEM) method, which is noted for its effectiveness in estimating complex path models containing latent variables and their relationships. PLS-SEM has garnered considerable attention for its reliability in assessing and refining theoretical concepts, demonstrating robust outcomes in this study. Findings: The findings underscore the positive ramifications of transitioning to a five-day work week, including increased job satisfaction and potential productivity gains. The study recommends banking institutions to recognize the importance of this transition in their strategic planning to enhance employee retention and organizational performance. Research Implications: Future research avenues include exploring long-term impacts and demographic variables on employee well-being and organizational dynamics. Overall, the shift to a five- day work week presents promising prospects for increasing job satisfaction and operational efficiency in the banking sector. Originality/Value:  This study adds to the existing literature on the five-day work week in banks by exploring the relationship between employee willingness, the social and economic factors and implementation of five day work week. It aims to illuminate how these elements interact and influence the adoption process. The research examines employees' willingness to embrace a five-day work week, the effects of such an implementation on productivity and customer service, and the broader social and economic consequences. By addressing these variables, which have not been extensively covered in previous studies, this research provides a comprehensive and original analysis of the five-day work week in the banking sector.