From Twitter to Meta, layoffs mount in the tech industry, more than 35,000 tech workers across 72 companies having been laid off this month alone.
But, despite Elon Musk’s decision to ban remote working at Twitter and claim that he would be working and sleeping at Twitter’s San Francisco headquarters until the “org is fixed”, this type of demonstrative dedication to work is not an ideal shared by other business leaders.
New research commissioned by Samsung reveals that gone are the days when burning the midnight oil was the norm
It was found that the average ‘clocking off time’ for business leaders is now 3.06pm.
Further still, one in five business owners (20%) said they only work when they want to, while just 14 percent stick to a traditional 9-5.
What does a normal working day look like?
The research found that 97 percent perform non-work activities during their newly defined ‘working day’.
Also, 47 percent of entrepreneurs have ‘no fixed hours,’ with 9-5 becoming the exception.
Business leaders are spending an average of 1 hour and 12 minutes on household chores and one in five (22%) take daily siestas to help them perform better.
Almost a quarter of business leaders (23%) will let staff come in late if they have been out the night before.
Work is headspace not a physical space
More than ever, work is about focus not location, with the average business owner not having set foot in an office for 148 days, and one in five never having done so at all.
Instead, almost two-fifths (37%) of entrepreneurs have taken a working holiday without telling clients, with the practise far more common amongst those aged 25-34 (48%) compared to just 20 percent of those over 55.
That confidence seems linked to technology, with more than half (51%) upgrading their work phone so they can operate anywhere, on their own terms.
There is, however, a continuing sense of dedication, with 43 percent of small business owners taking less holiday time, preferring to continue to work from wherever they are.
Mental wellbeing is a priority
Mental and emotional wellbeing are major considerations, and there is growing sentiment that work should not be all-encompassing even among business owners.
A staggering 71 percent said they put their family life ahead of their business, with 27 percent saying the same for friends. In a sign of how much the conversation has shifted, half (49%) said they prioritise their emotional health ahead of their business.
Modern entrepreneurs are not just trying to improve their own work/life balance though, they are encouraging their staff to do the same.
Half (49%) let their employees change their working hours to fit in with their lives, a third (35%) are happy to let their staff choose their working hours so long as they get the job done.
That duty of care is being taken seriously, with 36 percent allowing their employees to take “mental health days” if needed.
Joe Walsh, Director of B2B at Samsung UK said:
“UK business owners are the backbone of our economy, and their dedication and commitment inspires me every day. This research reveals, that they are also leading the charge in transforming our preconceived ideas of how we should work. For modern entrepreneurs, work is wherever they find the right headspace. It’s all about finding new ways of working that bring more individual satisfaction and reward.”
“Multi-tasking, multi-screens, multi-priorities; all are now commonplace, with a refreshed focus on quality over quantity. As many of the respondents expressed, if their business can be run effectively from a beach in Greece or after picking up their kids from school, why shouldn’t it be? Technology is at the heart of this change, with the right tools empowering them to juggle what they need to do and what they want to do, without missing a beat, and driving growth.”
Founder of 10×10 Capital, Andy Davis explains:
“The stereotype of how a business owner must work and act is being rewritten. It’s now about what is most effective both personally and professionally. For me, speed is everything, so I need technology that develops alongside my workflow and is easily accessible wherever I go. My Samsung Z Fold4 has helped me grow from being a good communicator to a great one because it literally lets me see the big picture.”
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
Great post! I’m a business owner myself and I know how difficult it can be to manage everything while also trying to maintain a healthy work/life balance. I love the idea of having more flexibility with my hours and being able to adjust my schedule as needed.