HUNTINGTON BEACH, Calif., Nov. 1, 2016 /PRNewswire/ -- We often hear the phrase, "Work smarter, not harder." These are words to live by, no doubt, but what exactly do they mean, and how does one accomplish this task? Is it by learning more about the industry one works in, in order to be more insightful? Does it entail working with efficiency rather than simply brute determination? Does it mean creating an environment in which employees feel valued, and are thus willing to put forth a greater effort? In the case of, Blue Street Capital, an equipment leasing and financing company based in Huntington Beach, CA the answer is: all of the above.
On August 1st, 2016, on a quest to "work smarter, not harder," Blue Street Capital shook up the way they do business, by adopting a revolutionary new workplace concept: the 5-hour work day. In a bold move, they cut operating hours by nearly 50% without cutting employee pay. Why, one might wonder, would they want to pay their employees the same to work less? The answer is simple: they feel that in allowing their employees to be more connected to their lives outside of work, they will in turn be happier, more rested, and more efficient.
Blue Street is hopeful that this concept will make their company a leader in the next workplace revolution. Now that we are firmly ensconced in the digital age, there is not the same necessity to work on-site from 9-5 in order to get the job done. CEO, David Rhoads, says of the switch, "At Blue Street, we are hyper focused on bringing massive value to our customers, partners, and employees alike, and this is one giant step we can take towards that goal. We're confident that by condensing the hours we work, we will be able to spur innovation, creativity and most importantly have 'stoked employees'. Additionally, we're hopeful this will allow us to both recruit and retain the best and brightest in our field."
The question remains, however, how exactly do you achieve a higher level of efficiency in fewer hours? The answer, again, is simpler than one might think. An average of 40-50% of a typical 8-hour work day is wasted on coffee breaks, water cooler chit-chat, meal breaks, and checking personal emails and social media. This estimate doesn't even factor in additional time-killers such as fantasy football, or office social events. Allow for the afternoon dip in energy, and the tendency to push new projects to the next day, and you are looking at roughly three to four hours with a drastically reduced rate of employee productivity.
The 5-hour workday eliminates all the nonsense by asking employees, quite simply, to put forth a solid five hour block of purposeful, productive activity. In return, they are free to spend the rest of the day doing whatever they wish -- spending time with the family, driving carpool, surfing, golfing, or simply catching a few winks. By reducing office hours, without diminishing the expected productivity, efficiency is actually increased. Rather than limiting the expectation of work output, the concept simply ensures that the same work gets accomplished in less time.
There will of course, be times when customers require extra assistance, or when busier times of the month come around, and during those instances, employees will be expected to forego the 5 hour baseline, and work until the job is done. The hypothesis is, that employees who are made to feel as though their time is valuable will be more than willing to go the extra mile for the company when they are called upon to do so.
Stephan Aarstol, founder and CEO of Tower Paddle Boards, pioneered this concept in 2015 and has seen staggering results within his own company. He says, "Time is like a sponge and work always fills the void of time.If you have eight hours to do something, you take eight hours. If you tell people to get the same work done in five hours, they start working at a faster pace and find creative solutions to stuff."
While the jury is still out on Blue Street's results, they will continue their quest for for achieving the ultimate work-life balance, and expect to offer a 90 day update on the success of the program in the coming weeks.
About Blue Street Capital
Blue Street Capital, LLC is a technology financing and equipment leasing firm based in Huntington Beach, CA. Their mission is to help their customers grow their businesses by providing financing solutions for technological needs.
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SOURCE Blue Street Capital, LLC