Prenups, Gen Z, and Iceland’s experiment

Spoiler alert: 40-hour weeks are out

Author

The Female Quotient
November 26, 2024

Welcome to the second edition of The FQ Newsletter! Thank you for the overwhelming response to our new outlet for real workplace conversation. There’s good news for all our fellow troublemakers: we’re just getting started.

WHAT’S ON DECK

  • Tell Me More: Iceland’s Shorter Workweek Experiment

  • Troublemaker Spotlight: Libby Leffler, Founder & CEO at First

  • Dear FQ: How to Effectively Lead and Connect With Gen Z

  • Poll the Pack: To Stay or Leave, That Is the Question

TELL ME MORE

Shorter work weeks win in Iceland — but is there more to the story?

Did you know that almost 90% of Iceland’s population works less than 40-hour weeks, or have the right to shorten their working week? It all started in 2015 when Iceland ran a headline-making trial with workers across various industries to test one thing: Can a shorter workweek really be as productive as the traditional 40-hour workweek?

Spoiler alert: the results were undeniable. Researchers said productivity remained the same or improved in almost all workplaces. You read that right. Improved!

But before you walk in and tell your boss you’re reclaiming your Mondays, here’s what else you should know about the study. Instead of comparing four versus five-day workweeks, the study in Iceland focused on the hours worked within the week. Instead of the traditional 40-hour (plus a few, for some of us…) workweek, the participants in Iceland’s study worked 35 or 36-hour weeks. 

The good news? The results were consistent across a range of industries, like preschools, offices, social service providers, and hospitals. Googles real estate in Reykjavík

But the 4-day workweek movement doesn’t end there. In 2022, the UK conducted a largest-of-its-kind pilot in the world to see how 4-day workweeks work. The conclusion? 92% of participating companies stuck to the 4-day schedule after the pilot was over. So what swayed them? These numbers, for starters:

  • Average revenue (vs. last year): +35%

  • Number of staff leaving their jobs: -57%

  • Improved physical health: +37%

  • Improved mental health: +43%

  • Absenteeism: decreased

  • Burnout: -71%

  • Stress: -39%

  • Hiring: easier

One in six employees in the study said no amount of money would convince them to return to five days a week… and we can see why.

TROUBLEMAKER SPOTLIGHT

Libby Leffler, Founder & CEO at First, gets real with us

What do Sheryl Sandberg’s first chief of staff at Facebook, the founder of a headline-grabbing legal software, and a graduate in the top 5% of Harvard Business School all have in common? They’re the same person. Libby Leffler. The definition of a “woman to watch” for all the right reasons, Libby spent 7 years at Facebook (plus one at Google) before going on to found First, a startup that makes it easy to complete prenuptial agreements online. Known as ”The TurboTax for prenups,” First makes it easier for women to protect their financial future when they get married, all without stigma, judgment, or a hefty price tag.

FQ: What’s the worst career advice you’ve gotten?

LL: Anything having to do with changing myself to make someone else more comfortable. I mistakenly took that "advice" before I knew any better. It always led me down the wrong path. Stay true to who you are – and run from any suggestion that you question it. Remember: you are one of one.

What’s the best piece of non-obvious career advice you’ve gotten?

Work for and with the smartest people you can, on things you are not yet ready to do. Jump into the deep end. You'll figure it out faster than you think.

What was a “heartbeat moment” for you in your career?

Stepping into the world as a founder every day is my "heartbeat moment.” Creating something from 0 to 1 is a soulful, sometimes heart-wrenching, experience, requiring deep focus and unwavering conviction. Refuse to let other people project their fears onto your vision.

You just received the marketing version of an Emmy award. Who are the three people you’re thanking that aren’t at your current gig?

My Husband – for always believing in me

My Sister – for keeping it real

My Mom – for blazing the trail (I can never thank you enough)

Where have you caused trouble?

I can't think of a moment in my career where I haven't been causing good trouble…

A note from Libby:

P.S. If you’re newly engaged and want help with a prenup, shoot me an email at [email protected], and I’ll look out for your best interests. Cheers, Libby

DEAR FQ

Your burning career questions answered

“Gen Z has entered the workforce in a major way, and while I admire their focus on boundaries and work-life balance, their approach to work feels quite different from those of other generations I’ve led. Honestly, I find it challenging to fully understand what drives and motivates them. How can I better connect as a leader with younger generations on my team?”
Lorena Castano of The Female Quotient weighs in:

As a member of Gen Z, I can say that I value transparency and honesty when communicating with leadership. I want to understand the reasoning behind their decisions so I can learn and grow in the company. Clear communication allows me to understand the whole picture and make better decisions. What motivates me, specifically, as a Gen Zer?

  • A company that aligns with my values and whose mission I support, because I want to make a difference in any way I can.

  • Two-way communication, because that’s when I feel that I’m truly contributing to the team. Yes, I love to yap, but I think that’s the super power of Gen Z (we talk everything out).

  • When my manager respects my time off work (unless there is an emergency that I need to attend to), because I can perform best when I have time to prioritize my personal needs.

  • Working in a diverse and inclusive environment is also crucial to me.

P.S. Got a burning career question? Serve it up here to Dear FQ to score advice from a powerhouse leader in our network.

POLL THE PACK

The “Nos” pulled a bit ahead on this one, signaling that 54% of you are looking to make a change in the coming years. Gone are the days of staying at one company for far too many years in order to prove your loyalty when the work doesn’t light you up. You deserve to have a motivating and fulfilling career, like Libby and so many others. We’re here to help you get there.

Thanks for being part of our pack. We’ll be back and ready to help you cause some good trouble next week. Same time. Same place.

Xo

The FQ