February 8, 2023

Market and Financial News

Market and Financial News Aggregator

UK companies trial four-day working week with same pay

2 min read

Scores of companies across the UK are adopting a four-day working week with no loss of pay for staff after the pandemic caused managers to rethink their approach to work.

About 70 UK companies with more than 3,300 workers will this week start a six-month trial to test whether a four-day week can be adopted without a corresponding loss of productivity.

Several companies such as Aim-listed tech firm WANdisco and online bank Atom have already implemented similar schemes in the hope that fewer working days will boost productivity in the time when people are at work, as well as raise staff morale.

The pilot, which bills itself as the biggest flexible working experiment of its kind, has been launched by the 4 Day Week Global campaign group, alongside think-tank Autonomy and researchers at Cambridge university, Oxford university and Boston College.

The launch of the trial comes after a backlash by some bosses against flexible working. Tesla chief executive Elon Musk last week told staff to return to the office for a minimum of 40 hours a week, according to an email first reported by Reuters. Civil servants have also been urged to return to offices in Whitehall by senior ministers.

Companies that have signed up for the scheme range from education and consultancy businesses to banking, IT, retail and recruitment groups. Each has agreed to allow researchers to measure the impact on productivity and wellbeing, as well as on the environment and gender equality. Four-day week trials are also expected to begin later this year in Scotland and Spain.

Joe O’Connor, chief executive of 4 Day Week Global, said that the UK was “at the crest of a wave of global momentum behind the four-day week”. He added that more companies recognised that the “new frontier for competition is quality of life, and that reduced-hour, output-focused working is the vehicle to give them a competitive edge”.

Researchers will look at how employees respond to having an extra day off, including…

2022-06-05 19:01:40

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator

Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.