British fintech Atom Bank has announced a new flexible policy where its staff will work four days a week instead of five without cutting wages. The banking app has 430 employees who will see working hours fall to 34 from 37 hours to improve performance, employees’ mental health, and physical well-being.
During these past months, many companies have announced their working policies. Most of them are opting for flexible arrangements such as hybrid or full-time remote work. But in other cases, a shorter workweek is the solution.
Atom Bank Staff Will Work Four Days Per Week
The bank located in Durham, England, is opting to work a four-day a week, working an hour longer on average to compensate for Monday or Friday. According to the new policy, some service and operational staff will work on a different schedule but also with a shorter week to support the bank’s customers.
According to Mark Mullen, Atom’s Chief Executive, the five-day workweek is outdated. Working from home because of the pandemic demonstrated how businesses can be more open-minded about working schedules and structures. He said:
“With Covid-19 causing vast numbers of people to reconsider how they want to live their lives, anything that leads to more productive, healthier, and, crucially, happier colleagues, is a win for everyone.”
Many companies had to create emergency policies that involved working from home. But these new practices also lead to new opportunities. For some, working remotely became the possibility of hiring new talent. For others, to reconsider the entire work structure.
The shift to a shorter working week is one of the most radical changes that has become popular in the UK. For Mullen, a shorter workweek means the possibility of having a healthier lifestyle.