IS A FOUR-DAY WORKING WEEK GOOD FOR BUSINESS? COUNTRY: UK SCHOOL: Henley Business School, University of Reading
DO GREEN ENTREPRENEURS HAVE SPECIFIC PERSONALITY TRAITS? COUNTRY: Germany SCHOOL: TUM School of Management, Technische Universität München Startup leaders with sustainability and the reduction of climate change at heart are more likely to be extroverted and open to new experiences, according to results of a study from Hanna Hottenrott, a Professor of the Economics of Innovation at TUM School of Management. Hottenrott, together with co-author Gary Chapman of De Montfort University’s Leicester Castle Business School, wanted to find out whether specific personality traits define ‘green’ entrepreneurs – given a general assumption that founders’ personalities often inform the values of their companies. They looked for evidence of the so-called ‘big five’ of personality psychology – openness to new experiences, conscientiousness, extraversion, agreeableness, and neuroticism – among the founders of 3,053 companies from different sectors that were established between 2011 and 2016. Only 37% of these companies, Hottenrott noted, offer products with significant environmental benefits. ‘Above all, openness and extroversion significantly increase the probability that the topic of sustainability in products and processes will play a major role in the company, while the personal expression of neuroticism tends to inhibit this,’ said Hottenrott. Due to its perceived importance in the startup space, the study also looked for founders’ risk tolerance. Here, however, the results suggest that an entrepreneur’s willingness to take risks does not have a major influence on the sustainability of the startup. Given the findings, the TUM Professor believes more people could be encouraged to found green(er) companies through exposure to relevant role models. – ‘for example, by bringing potential founders with low extraversion or openness scores into contact with those who are already successful with green startups,’ Hottenrott explained. ‘Positive role models can encourage founders to develop sustainable ideas that they would not otherwise have dared to approach.’ There is also a recommendation for further research into the impact of more personality traits of potential interest, such as altruism, narcissism or a willingness to cooperate. / Tim Banerjee Dhoul (TBD)
The pandemic has demonstrated just how well flexible working arrangements can work, but is a four-day week pushing flexibility too far? What would the knock-on effects be for society? Businesses that have introduced a four-day week claimed to have saved an estimated £104 billion GBP, according to a study from Henley Business School’s James Walker, Director of Research and Rita Fontinha, Associate Professor in Strategic, Human Resource Management, entitled The four-day week: The pandemic and the evolution of flexible-working. The study surveyed 2,000 employees and 500 business leader, of the businesses surveyed, 65% were implementing a four-day week – a rise of 15 percentage points since 2019. Other benefits reported by companies operating four-day weeks include 78% saying that their employees are less stressed at work, 68% saying they have been able to attract and retain the right talent, and 64% stating that the quality of work they produce has improved. From the employees’ perspective, 69% said that working four days for the same pay, while being able to choose the day they took off, is the best option. The key benefit among respondents here is the perception that their personal life would improve, cited by 68%. When asked how they would spend their extra day off, 51% said they would pick up a new hobby. Notably, 58% said they would do more shopping, and 48% said they would eat out at restaurants, indicating the potential boost a four-day week could provide to the economy. In addition, 32% of respondents said they would use the extra day for work outside of their primary employment – either setting up their own business or working in another sector. While a four-day working week was seen as a positive move by most, 45% of employees were concerned that taking the option of a four- day week would be perceived as ‘lazy’ by their colleagues and 35% were worried about handing over their work to their colleagues. / Ellen Buchan (EB)
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