Finance Magnates has learned that TIOMarkets, a forex and CFDs broker with global operations, is implementing a 4-day working week structure for the staff in its Cyprus office, effective from September 2021.
By doing this, TIOMarkets has become probably the only broker to allow its staff to work only four days a week. Only a few other tech companies are offering a 4-day work week scheme, while a few developed countries are mulling to make it mainstream.
Additionally, the broker clarified that there will be no change or reduction in compensation or annual leave of the staff.
“A motivated staff-base is what enables our company to grow,” TIOMarkets Group CEO said.
“Whilst it may seem counter-intuitive, actually by motivating our team and by helping to encourage a healthy work-life balance, we believe that the benefits will ultimately feed into our overall company performance and trajectory.”
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A Progressive Broker in All Aspects
TIOMarkets is a relatively new broker in the industry, offering trading services with forex and CFDs of stocks, indices and commodities. Earlier, Finance Magnates reported that the FCA-regulated UK unit of the broker turned a marginal profit for 2019, which was impressive as it broke even only within a year of commencing operations.
Now, it is to be seen how the reduction of a day in the working weekly will impact the broker’s business.
“By giving so many days back to our team, we believe that we can be a positive case study for greater productivity, increased performance, as well as improved professional care that is given to the company’s clientele,” the Group CEO added.
“We want our employees to enjoy their lives outside the company just as much as their time working in the company and we believe the most efficient and effective employees are those who love where they work rather than work for the highest bidder.”