By default multi-day jobs were displayed as individual blocks on the calendar in their respective time slots. For example, if a job was scheduled to last four days from 9/18 to 9/21 then it would be displayed as follows.
With the new preference, you can configure your calendar to display it as a single block spanning across four days.
To configure this preference, go to My Office > Company Preferences and look for the "Display Multi-day Jobs On Calendar As" preference on the right side of the screen.