A tech firm has announced it is adopting a four-day working week for all its 180 employees. Bizay.co.uk made the bold move following a decision to close all offices and become a 100 percent remote company.
Comprising 36 standard working hours, the four-day working week model will have an initial two-year trial period. And impacts and effects of the measures will be monitored on a quarterly basis.
In practice, the new approach will lead to a 17% reduction of the working days per year - down to 186 days. And a reduction in the working hours by 7%, down to 1,672 hours.
The firm, based in Portugal, was established in 2014 and calls itself the "Amazon for personalised products". It grew 60% over the previous year with an annual turnover of more than 40 million euros, offering customisable products for more than 1.5M clients across Europe.
Sérgio Vieira, CEO of Bizay.co.uk said he move demonstrates their commitment to employee wellbeing. "We believe the benefits of both policies will lead to super-charged employee productivity, wellbeing and happiness, without compromising on our productivity and company goals," he said. "This decision comes after months of careful analysis, resulting in a meticulously-designed approach which will ensure all parties' interests are upheld.
"We believe that transparently sharing information on how Bizay.co.uk's four-day working model is working each quarter will help other managers and employees to accelerate what we believe to be the future model of work."
