- 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.co.uk intends to pioneer the way we work, with greater harmony between work and personal life for its 180 employees
LISBON , Portugal, Oct. 12, 2022 /PRNewswire/-- Bizay.co.uk, the 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.
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.co.uk will monitor the impact of these measures on a quarterly basis.
This continual monitoring will allow Bizay.co.uk 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 barometer, with insights which will enable other businesses to assess the impact of the approach.
With this new and radical working structure model, Bizay.co.uk 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.co.uk'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.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," says Sérgio Vieira, CEO of Bizay.co.uk.
About Bizay Group
The technology firm, established in 2014, was created with the aim of democratising access to PMEs and Individuals to any personalised product. The group that is in 21 markets, holds the largest online catalogue for customised products, calling itself the "Amazon for personalised products". Bizay.co.uk is one of the most promising European technologies, growing 60% over the previous year and with an annual turnover of more than 40 million euros.
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