SASKATOON, SK, March 08, 2022 (GLOBE NEWSWIRE) -- Coconut Software, the leading appointment scheduling, lobby management, and video banking solution for financial institutions, is proud to announce that it is implementing its version of a four-day workweek.
Coconut’s ‘Cabana Day’ program allows employees to take Fridays off to focus on things that matter to them. They work regular, eight-hour days Monday to Thursday, and their compensation does not change (despite only working 32 hours each week). To ensure full coverage for clients every day of the week, Coconut’s Customer Service teams alternate taking off Mondays instead of Fridays.
Coconut’s leadership has always been focused on the well-being of its employees. But after seeing the stress the pandemic had put on employees, they decided to do more. In August of 2021, with full support from its Board of Directors, Coconut launched a pilot of its four-day workweek program.
“We believe that if we take care of our people, they will, in turn, take great care of our customers and business,” says Katherine Regnier, Coconut Software CEO. “That’s why it’s so critical we ensure our employees have time to rest, recharge, and be ready to tackle the week's challenges. Coconut is very results-driven. Based on the data, performance has remained strong and, in some cases, the team’s productivity has increased.”
Leadership surveyed employees about their experience with the ‘Cabana Day’ program, which ran between August and October of 2021. The survey found that the large majority of employees felt they were more engaged at work and that the balance between home and work life was better. People managers also observed that their teams were more productive and better able to prioritize their work.
“Coconut Software has historically had high employee engagement scores, quality of work, and levels of productivity,” said Regnier. “And I believe that’s because we’ve always focused on our employee’s outputs rather than when they punch in and out each day. It might not be for all companies, but it works for us—and it has been a game changer.”
Coconut’s leadership announced to employees that the program would be officially adopted moving forward in an internal meeting in November of 2021.
“I am thrilled to see Coconut Software at the forefront of the four-day workweek movement, and I hope more companies across Canada and the U.S. embrace new opportunities to promote balance and employee well-being,” said Neal Dempsey, Coconut’s Chairman of the Board. "The organizations that step up to nurture the whole employee are the ones who will attract the best talent and keep their people productive, healthy, and happy."
Coconut was named one of Canada’s Top Growing Companies by the Globe and Mail, a “Company to Watch” on Deloitte’s Technology Fast 50™ list, and a Great Place to Work for Technology, Inclusion, Today’s Youth, and Mental Wellbeing.
To learn more about Coconut Software’s ‘Cabana Day’ program, read this blog from its CEO.
About Coconut Software
Coconut Software makes it effortless for customers to connect with their financial institution. Our enterprise appointment scheduling and lobby management solutions are used by leading banks and credit unions across North America, including RBC Royal Bank, Arvest Bank, Vancity, and Rogue Credit Union. The result? A seamless customer experience that’s improved NPS scores, reduced wait times, and increased conversion rates for the organizations who use it. Founded in 2011, Coconut Software is headquartered in Saskatoon, Saskatchewan with offices in Toronto, Ontario. For more information, please visit www.coconutsoftware.com
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