The Hunger Games

Reducing the timer is definitely not a good idea! If it were a 1v1 game, then yes, players who enjoy fast-paced games could use a shorter timer, but this is 1v1v1v1. You might come up with a plan, but in 3 turns, your opponents can change everything very quickly, and you'll need some time to adjust!!!
16:8:1 is a tried and tested, comfortable timer!