This company allows its employees a 4-day work week

Michelle Fox – CNCB + Nut

The four day work week is a permanent bonus for Bolt tech unicorn employees.

An e-commerce developer in San Francisco, California, trialled the software last fall, and the results were very positive, according to founder and CEO Ryan Breslow.

“I couldn’t imagine running a company any other way,” he said.

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Productivity increased, work accelerated, employees became happy. A survey conducted at the end of the three-month trial period revealed that 94% of workers and 91% of managers wanted the program to continue.

84% of employees reported being more productive and 86% being more efficient with their time. Furthermore, 84% have improved their work-life balance.

The idea is not necessarily to take more hours of work, but to work more efficiently. According to Breslow, during their working hours, employees become more focused.

“Many companies work with a lot of theater,” he said, “that is, people care more about the look of the work than they care about the actual work.”

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“You have countless meetings, countless documents, countless presentations,” Breslow said. “It is impossible to filter out the noise and get to the heart of the matter.”

Bolt, which has 550 full-time employees, is one of the few companies in the United States to have embraced the abbreviated workweek.

Its proponents hope the idea will spread, especially in an age when attracting and retaining workers is a top priority. Millions of people have quit their jobs as part of the “Great Resignation” in recent months, with a record 4.5 million in November alone. Experts expect the trend to continue.

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“The companies we’ve helped transition to the four-day workweek have dramatically expanded the pool of potential candidates,” said Joe O’Connor, director of the global 4-day-a-week pilot program, which runs four-day trials around the world.

So far, 30 companies from the United States and Canada have signed up for this year’s six-month coordinated trial.Or they focus on fewer hours of work for the same pay. Pilot programs will also be launched in the UK, Australia and New Zealand.

“The four-day week challenges the current business model and helps companies move away from just measuring how long people are ‘on the job’, to focus more on the performance that is produced,” O’Connor said.

there even Legislation in Congress This reduces the standard work week to 32 hours instead of 40 hours. No action has been taken since the bill was introduced in July.

A four-day work week certainly won’t work for all companies or business models. In addition, it must be applied correctly, with careful checking of work flow and the number of meetings in calendars.

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“It should serve as an entry point into a focused and robust business conversation about how to work smarter and more efficiently,” O’Connor said.

Even Bolt made some adjustments along the way before ending his permanent program.

“The elevator was not the easiest to operate. It took some work,” Breslow said.

However, O’Connor hopes the slow push toward a shorter work week will continue.

“The year 2022 will herald this bold future of work,” he said.

This article is part of a series Invest in you ready. Designation. grow (Invest in Yourself: Ready. Done. Grow), an initiative of CNBC and Acorns, a microinvestment app. NBC Universal and Comcast Ventures are investors in oak tree fruit.