\n<\/p>\n
Shorter working weeks for startups<\/p>\n
<\/fbs-accordion>getty<\/small><\/figcaption><\/figure>\n
Until recently, the prospect of working four days a week was just wishful thinking for most workers. However, since the pandemic and the move to more flexible work patterns, many businesses have transitioned to a shorter working week.<\/p>\n
Last year\u2019s four-day workweek pilot schemes <\/a>in the U.K., U.S., Canada, and Australia proved successful. On a scale of zero to 10, the average rating from companies taking part was nine, with many pledging to continue the new work regime beyond the trials.<\/p>\n A four-day workweek won\u2019t suit every organization. It may only be viable for companies able to adapt to a new way of working, which may be why many naturally agile startups see it as the future.<\/p>\n Web development company Buckeye Innovation<\/a> has seen huge benefits from a four-day week, including an increase in productivity, a 30% revenue growth in 2022, and a boost to morale among the firm\u2019s 16 members of staff.<\/p>\n \u201cAllowing staff more time to spend on personal and professional development, volunteering, and supporting their families has increased team morale,\u201d says President Brad Griffith.<\/p>\n One valuable benefit has been the increase in ideas generated by the team to improve efficiency and reduce wasted time, resulting in increased profitability while reducing hours worked. However, one of Griffith\u2019s biggest concerns is talent acquisition. He says: \u201cA four-day workweek could be an incentive for employees and candidates who aren’t an ideal fit but value a shorter work schedule. With a shorter working week, we need highly focused and productive people, not team members who want to be held to lower expectations.\u201d<\/p>\n Design agency Lyon & Lyon<\/a> employees have been working a four-day week for the last three years. While there have been some bumps in the road, the experience has been mostly positive. Benny Lyon, who cofounded the business with his twin brother, Mat, says: \u201cIf we reverted now, I think our staff would struggle to adjust, which shows how prevalent it has been.\u201d<\/p>\n Turnover has continued to grow by more than 30% year on year since implementing the new working hours, and it has proved a massive draw for talent; most applicants cite it as a key reason for joining the company. The four-day workweek also features in their client pitches, which has found favor with the majority who see it as aligning with their beliefs.<\/p>\n However, Lyon admits that some client relationships have suffered. \u201cWe may have lost some continued relationships with clients because of it. For example, some want a rapid turnaround on the artwork, and we can\u2019t give that on a Friday,\u201d he says. \u201cThe four-day week is here to stay, but we still have a lot to do to make it work for us.\u201d<\/p>\n