In what could be a breakthrough move, a multi-billion dollar fintech company embarks on a four-day work week
It may sound politically incorrect, but the pandemic has prompted Corporate America to make powerful workplace changes that empower employees to empower employees, which has improved the lives of millions of people.
Just two years ago, it would have been unimaginable to believe that we could successfully work remotely on a large scale. Now remote, hybrid, flexible (you can choose when and where you work), digital nomads and offshoring to lower cost locations at the same pay have all become acceptable and mainstream.
In this tight and competitive job market, with millions of unfilled jobs and large numbers of people leaving, looking for better opportunities, leaders recognize that they must offer incentives and incentives to attract, recruit and retain the best talent. Money is clearly important, but having a healthy work-life balance is also crucial for people, especially in this stressful and anxious environment. The four day work week is a great way to show workers that they are valued and appreciated.
In a radical and revolutionary movement, Ryan Breslow, the young founder and dynamic CEO of Bolt, a fast growing fintech unicorn, with a mission to “change the world of e-commerce by fixing one place with the most headaches: the caisse âillustrates this new emerging trend. Breslow, the head of a multi-billion dollar tech company, has made a big bet on the belief that by taking good care of his team, they will happily outperform. The pilot program has been tremendously successful and the company has now moved to a permanent four-day work week.
Other big companies have shortened work weeks in place, but sometimes you need a reputable organization to get mass attention to a movement, which will inspire other business leaders to embrace a move. shortened work week.
For decades, we have been crammed into crowded buses and trains, commuting over two hours a day to get to the office. Once there, you’re stuck in a skyscraper with hermetically sealed windows, blinded by staring at a computer screen for over eight hours under intense fluorescent lighting. Your micromanaging boss is constantly looking over your shoulder to make sure you are working. It is a question of face time and not of productivity. To feel important, bosses schedule a lot of meetings. There is a meeting to discuss the upcoming meeting, the meeting itself, and then the debriefing meeting after the meeting. This old-fashioned style of working is punitive and exhausting.
A two-day weekend is not enough to recharge your batteries after a long and tedious week of work. A day is all about shopping, grocery shopping, doing laundry, looking after your kids, doing chores around the house or yard and the endless list of household chores. You’re probably checking Slack and your emails and doing some catch-up work on Sunday nights. Monday morning arrives and you are still exhausted.
Breslow says that by allowing time away from the office to rest and recuperate, people will return to work with more energy and enthusiasm. They won’t be like the “zombies” you see in the office or on Zoom video calls, dragging themselves around the workday with great fatigue.
Breslow believes that “an increased balance leads to an increase in production.” He said: “The biggest problem with remote working was not that people were working less, it was people who were working too much.” The founder of the technology “reversed the scenario”, rationally emphasizing that “when your team is healthy, your organization is healthy”.
With a truncated work week, employees are more aware of how they allocate their time. Each meeting is reviewed to determine if it is an appropriate use of everyone’s precious time. Much like a sporting event that involves a clock, workers, like athletes, need to intentionally and wisely devote their precious time. By reducing meeting time, by not feeling the pressure to be present just to impress the boss, it improves people’s mental health and well-being and dramatically increases productivity.
Breslow asked the question “What if we work like lions?” Like the King of the Jungle, people can operate with “short bursts of energy, high intensity, then rest and recover for the next sprint.” With a four-day work week, he believes employees will have more energy and become much more productive. âWith a four-day work week, we can feel confident during those four days. We can really give it our all.
Instead of playing the game, watching the clock go by until 5 p.m., when you might rush out of the building or log out of the computer at home, the results are more important than the time spent in front of you. He says of this business philosophy: âHigh performance is not about investing; that’s how much you get out of it.
A number of countries and companies have experimented with four-day work weeks. The governments of Iceland, Spain, Scotland and Japan have instituted shortened work weeks. Companies, such as Kickstarter, Unexplored, Microsoft Japan, Unilever, Perpetual guardian, the Wanderlust Group, Elephant Ventures, Tower Paddle Boards, and Digital Enabler are some of the companies that have launched or plan to pilot a four-day work week. Congressman Mark Takano (D-Calif.) Has proposed legislation for a three-day weekend.
- Here are some of the results of the Bolt pilot program:4% of employees and 91% of managers are in favor of maintaining the four-day week
- 86% were more efficient with their time
- 85% of managers said their teams are capable of achieving their goals and key results
- 84% say their work-life balance has improved
- 84% were more productive at work
- 80% succeeded in eliminating unnecessary meetings
Jennifer Christie, director of human resources at Bolt, gave her advice on companies looking to try a four-day work week. Christie said management should start slowly with a pilot program. You don’t have to go all-in right away. Make sure this type of program is appropriate for the corporate culture. Start with a two to three month experience. Have clear goals for what you want to achieve with the Short Work Week. Train leaders to manage this new type of working style. Ask for employee feedback. Be understanding and empathetic, as people will need time to acclimatize to this new culture. Listen, learn, and make adjustments as needed.