Moving to a four-day working week could lead to increased stress and burnout among employees, warns a PropTech founder.
In today’s fast-paced world, such a move is seen as a potential solution to help employees maintain a healthy work-life balance. However Eugene Tavyev, who founded Spacepool in London in late 2019, warns against jumping on the bandwagon too quickly.
“This model has been tried and tested, and it has shown some positive outcomes in companies that have implemented it, but the benefits and drawbacks of a four-day working week would depend on the specific circumstances of each business,” he says.
“Any company considering implementing this model should conduct a thorough analysis of their own operations and evaluate the potential impact on their employees and overall business objectives.
“It could lead to increased pressure on employees to complete their work in a shorter amount of time, which could result in working longer hours or outside of regular business hours. This could lead to increased stress and burnout among employees.”
Tavyev says it is possible for businesses to benefit from the four-day working week – but only if it is implemented in a strategic manner. “With an extra day off each week, employees may have more time to rest and recharge, which can lead to increased job satisfaction and motivation, but it could just as easily lead to delays in completing projects and achieving business objectives,” he explains.
Spacepool.com is an online marketplace that aggregates flexible office spaces from various providers. It allows users to search and compare different office spaces based on their location, size, price, and other criteria, as well as make bookings directly on the platform.
Features include secure payment, an in-built messenger for guests to communicate with office providers and online document signing.
Spacepool employs fewer than 10 people – and Tavyev says time is crucial to his startup as well as many others. “As a startup founder, I find that the idea of a four-day working week is quite stressful because there is already a lot to be done and time is a valuable resource,” he says.
“Implementing a four-day workweek would make it even more scarce, as it would lead to rushing against time to complete tasks.
“Additionally, it would also mean that some processes would take longer, leaving me with two options: either hiring more people to keep up or accepting the new timeline, both of which would incur additional costs.
“In the startup environment, the team plays a crucial role in determining success. It’s essential to have shared values and goals to ensure everyone understands the importance of working longer hours than those in traditional 9-5 jobs.
“Realising that their work has a significant impact can be a powerful motivator, even more so than incentives or pay. Having said that, I understand that it may work differently for other businesses.”