This Tech Firm Just Switched To A 4-Day Workweek & They Are 'Never Going Back'
"More days doesn’t mean more done."
The evidence is piling up and we should really make Thursday the new Friday.
San Francisco-based tech company Bolt has decided to permanently switch to a four-day workweek immediately after an immensely successful trial run.
Bolt, a payment processing company, first tested the initiative back in the fall of 2021, and after three months, they found that the results were overwhelmingly positive.
The company CEO, Ryan Breslow, shared the news via a tweet.
"It's official: Bolt is now the first tech unicorn to permanently switch to a 4 day work week," said the tweet. "Our 3 month experiment proved every core thesis: Heightened 1/ Productivity 2/ Engagement 3/ Wellness."
It\u2019s official:\n\nBolt is now the first tech unicorn to permanently switch to a 4 day work week \n\nOur 3 month experiment proved every core thesis:\n\nHeightened \n1/ Productivity\n2/ Engagement \n3/ Wellness\n\nWe\u2019re never going back and here\u2019s why— Ryan Breslow \ud83d\udd7a (@Ryan Breslow \ud83d\udd7a) 1641352103
Breslow also shared more details about how they measured their success.
The company surveyed its 550 employees and found that 94% were in favour of continuing the four-day workweek.
The survey found that 86% of the employees felt they used their time more efficiently, while 84% also claimed that they were more productive during work and saw an improvement in their work-life balance.
"I couldn't imagine running a company any other way," Breslow told CNBC News.
According to Breslow, employees are more laser-focused during their work hours since they have fewer hours to do their job.
This was demonstrated by 84% of the managers reporting that they hit their goals during the trial period.
The initiative also cut out unnecessary meetings and presentations.
Breslow pointed out that when employees are too exhausted, they don’t have room to be creative, which in turn kills new ideas and insights that otherwise would be good for the business.
But most importantly, he noted that "we are happier."
Bolt is one of many companies to recently adopt the four-day workweek after noticing the improvements in the quality of work amongst its employees.
Iceland tried it out for a year and dozens of other companies have also made the switch. Most if not all of them have reported equal or better job performance along with a better work-life balance for employees.
We're already in pandemic that's forced many people to find new ways of working. Maybe the four-day workweek is just the next natural move?