Not only that but I think this is the key to fix the economy! Think about it: if people could accept salary cuts for less work we would have more jobs and could transition to an eventual post-scarcity economy smoothly.
Creative workers don't output more than 25 quality hours a week anyway.
If I am willing to work 3/5 days a week for 3/5 of the pay, do I also only get 3/5 of the health care coverage and 3/5 of the vacation time of my 5/5 peers?
We obviously don't have the same healthcare situation as you, but surely it's just part of the negotiation? If 5 days a week is worth a $100k salary and $10k healthcare (don't ask me if that healthcare cost is 10x too high or 10x too low... but that doesn't matter) then 3 days a week is work $60k salary plus $6k healthcare. So offer that person $54k and healthcare. Or $66k and no healthcare. Simple enough, surely?
This is key. Most employers don't realise what a great deal this is. They are paying much less for probably the same amount of output. The person might even be more productive because they are more rested and can think better.
Arranging part-time conditions can be a slightly bumpy process: as stated above, management is often initially offended that you don't want to dedicate your life to their company, but framing your request correctly can smooth over most bumps.
When requesting a part-time arrangement I usually present it quite honestly: referring to a need for work/life balance, but also referring to the learning outcomes from pursuing challenging projects and the positive impacts they will have on my experience and capacity at work.
At the end of the day most managers realise that they are faced with either agreeing or facing the inevitable lose of an employee, but the decision can be made easier for them if you highlight the positive outcomes for your performance at work.
Incidentally, when I've described my part-time work schedule to friends and family, the universal response has been amazement and jealousy. The desire for a better work/life balance is such a common thing that I'm curious as to why so few people pursue better arrangements...?
But working with a few of these guys I found they are usually the best employees. They tend to bring energy and innovation to everything they do and generally better than a corporate drone who really does just want to cash paychecks for the rest of their life. At least in my area of marketing where one needs to look for innovation. Also they didn't exit after 6 months as building side businesses takes time and don't all succeed. For me know I'd take side projects as a plus on a CV but I suspect many people will hold to that first instinct I felt.
Unfortunately leadership didn’t like the idea; were afraid of others doing the same. So instead of biting the bullet they lost me.
My one day off is for my own projects, and it has also become special time I can spend with my wife (I was able to convince her to do the same thing at her job).
I can't imagine going back to a full work week. All I can imagine doing is taking another day for my own projects when I can support it financially.
I said "pay me 3/5ths of the salary you just offered me and I'll work 3 days a week". I also offered to keep this arrangement flexible so that I could work in stretches of varying lengths if needed.
This did not go over well. People were actually offended by this proposition and it went nowhere.
As a founder myself, I understand the desire to only hire people that will give you their full heart and soul. But, I'm also a practical person and if someone's skills are valuable to me, then they are very likely still valuable in part.
In fact, when it comes to a product/engineering position, I think the employer would come out on top in such a scenario. They still get access to the person's brain and all of their knowledge and ideas. For someone that's being offered high compensation, their knowledge and ideas are probably a big part of the reason why.