By implementing this change:
We provide an option to work 4 days a week @ 8 hours a day.
A 4-day employee receives a 20% pay decrease. All salary bands remain the same, but scaled to 80%. Review cadence should stay the same.
An employee must commit to a 4-day work week for a minimum of 6-months in two yearly cohorts (Jan 1 — May 31 & June 1 — Dec 31). They should give at least 1 month notice if they plan to transition from 5-day to 4-day or vice versa. This is to reduce additional payroll maintenance burden.
A 4-day employee works Monday, Tuesday, Wednesday, Thursday. Clients are less likely to be available on Friday than any other days.
To support this experiment, we will move retro to Thursday and try to make Friday a company-wide no-meeting day.
A 4-day worker forgoes Premium Fridays, as they already don't work on Friday.
A 4-day worker receives 0.8 PSUs / month.
A 4-day worker receives 12 PTO days per year (6 PTO days / 6 months).
This only works if it is available to everybody, especially new hires (this is a great perk!). However, it is purposely designed in a way that it is de-incentivized - enough to ensure that not everybody would want to do it. I think this only works (or is safe to try) if a small number of people do it (< 5 to start).