More than 30 companies will take part in the six-month trial led by 4 Day Week Global. Also involved are the Autonomy think tank and researchers from Oxford University, Boston College and Cambridge University. The scheme will run from June 2022 to December 2022.
Why do you need a four-day week?
Joe O’Connor, manager of the 4 Day Week Global pilot program, said the reduction in working hours was a remedy for the “big global wave of resignations” after the pandemic.
“In the last six to eight months, with the big resignation, it’s become a lot harder for companies to keep better people and attract more talent,” he told Standard.
“The scheme takes the focus away from time spent at work, and instead allows businesses to focus on actual products. It also reduces hospital and work burnout, and at this time of great resignation it will be good for staff retention. ”
The massive burnout experienced by employees as a result of emotional and mental stress has been cited as a key factor contributing to the high rates of extermination worldwide in 2021.
lower employee turnover
O’Connor says the 4-day week saves money by “reducing the cost of hiring and training new employees” as staff turnover declines.
Atom Bank, based on the Durham mobile app, is the largest company in the UK to have successfully implemented the policy. Employees were reduced their working day with zero salary reduction.
CEO Mark Mullen said the scheme has significantly improved employee business performance as well as employee mental health. “In each top-down dimension after two months, the data we saw shows a positive trend in disease, staff reductions and customer service,” he explained to Standard.
“26 key indicators across the bank improved by 16 and decreased by only two.
Will productivity decline?
“Staff surveys show that 90% of employees believe they can do their job in four days.
“The number of people experiencing stress at work has decreased from 43% to 24%. The number of people looking forward to work is now 88% out of 77%. And then 89% believe that their department has found effectiveness in the way they work together. ”
The global 4-day work week test is also being conducted overseas in the US, Ireland, Canada, Australia and New Zealand.
Andrew Duncan, partner and CEO at UK Infosys Consulting, expressed words of warning. He told Standard: “Without clear recommendations, employers are at risk of declining quality as talents try to squeeze the same amount of work into four days instead of five.
“It also creates risks in terms of managing people, which can lead to burnout or personnel working outside the stipulated hours – the opposite of what was intended.”