Earlier this month, San Francisco-based unicorn Bolt permanently switched to a four-day work week, a decision that it says it will never go back on. The online checkout platform allowed all staff to reduce their working week for good after doing a test-run for three months.
Calling it a “selfish” move, Breslow, 27, said he found that his employees were found to be “overwhelmingly more productive” while working for four days a week, as compared to five days a week.“This is a selfish thing that we’re doing. Because our hypothesis was that not only would employees be more engaged and healthier, but they’ll be more productive at work. And that’s what we found. We found that the four days that they’re here, they are overwhelmingly more productive than your traditional five days a week,” he told CNN.
Before we dive in, a point on the nature of work.
Many companies are plagued with “theatre work”… ie work designed to “look” good vs actually move the needle.
Countless meetings, confusing presentations, constant banter
We reject theatre work at Bolt.— Ryan Breslow (@theryanking) January 5, 2022
Here’s why the company, founded in 2014, is convinced that a four-day work week is the future of workplaces:
Breslow says the format has done wonders not just the employees, but also for the company.
94 per of employees who participated in a survey after the three-month pilot said they are in favour of continuing with a four-day work week. 86 per cent workers were more efficient with their time. 85 per cent of managers at Bolt were able to hit their objectives and key results. 80 per cent of employees could eliminate unnecessary meetings.The CEO listed his five key learnings from the new approach: