Bizay, the Lisbon-based tech platform offering customisable products for more than 1.5M clients across Europe – has today announced it will be adopting a four-day working week for all employees, commencing mid-October 2022. The move to a shortened working week follows the company’s decision to close all offices and become a 100 percent remote company.
- After adopting the 100% remote work model, the tech start-up implemented the 4-day working week model
- The restructure will be continually monitored, with its results published in a quarterly report
- Bizay intends to pioneer the way we work, with greater harmony between work and personal life for its 180 employees
The four-day working week model, comprising 36 standard working hours, will be implemented on a trial basis with an initial two-year experimental pilot period. 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 1672 hours. Together with Deloitte, the strategic partner that designed the four-day model, Bizay will monitor the impact of these measures on a quarterly basis.
This continual monitoring will allow Bizay to adequately assess the impact of the four-day working week, and analyse the effects of the approach within a wider business context. Insights will demonstrate how the move affects business decision-makers and employees in areas such as: well-being, employee satisfaction, productivity, talent retention and attraction. These metrics will be published quarterly in the form of a detailed and transparent report, with insights which will enable other businesses to assess the impact of the approach.
With this new and radical working structure model, Bizay is uniquely positioned as a future of work pioneer adopting a bold and progressive approach to remote working structures. The insights from the pilot period will be particularly useful to other companies considering a similar change for their organisations.
“Bizay’s decision to move to a 100 percent remote form of working last September, coupled with the implementation of a four-day working week from October, demonstrates our commitment to employee wellbeing. We believe the benefits of both policies will lead to supe-rcharged employee productivity, wellbeing, and happiness, without compromising on our productivity and company goals.
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’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,” says José Salgado, co-founder and Chief Growth Officer of Bizay.
Bizay also switched to a 100% remote working model
Last September, Bizay adopted 100% remote working, in order to optimise the motivation and work-life balance of its employees. The vast majority of professionals preferred to maintain this model after it was implemented during the pandemic.
The company’s shift to a fully remote working model saw savings in installation and office costs, which were subsequently passed onto Bizay employees via an allowance for expenses with teleworking, as well as the development of cultural activities to promote the physical and mental well-being of team members.
“We are convinced that all these measures will have a huge positive impact in the organisation, marking a turning point in the work paradigm in Europe. We want to attract more talent and show that it is possible to balance work and personal life, and at the same time, increase the productivity of the business”, concludes José Salgado.
About Bizay Group
Bizay is the global Operating System for Product Customisation, enabling the world’s largest catalogue of customisable products. The technology platform operates across Europe, South and North America, and digitalizes the booming and huge industry of product customization by empowering brands’, people’s and society’s to self-express. The software platform enables local manufacturers, brands and wholesalers to offer customisation on any product in the world and reduces the cost of production by half through batching and supply-chain optimization technologies. Bizay is one of the most promising European tech companies, growing 60% over the previous year and with an annual turnover of more than 40 million euros.
