New Economic Era: UK Companies Switch To A Four-day Work Week With No Pay Cuts

Over a hundred companies in the United Kingdom have committed to a permanent four-day work week without reducing employee wages.

In the United Kingdom, 100 companies have committed to a permanent four-day working week without cutting employee pay. This campaign aims to bring about a transformative change in the country by improving the working conditions for 100 companies employing more than 2,600 people.

Supporters of the four-day week say the five-day pattern is a remnant of an earlier economic era. According to The Guardian, it would motivate firms to become more productive and work fewer hours by implementing a four-day week. Those who adopted this policy early have also found it to be a great way to attract and retain employees. 

Out of the 100 companies, Atom Bank and global marketing company Awin, each of which has around 450 employees in the UK, are among the two biggest firms to adopt the four-day working week. According to reports, they have been accredited by the Four Day Week Campaign, which means they have demonstrated that they have reduced the number of working hours for their employees rather than condensing them into fewer working days. 

In an interview with The Guardian, Awin’s chief executive Adam Ross described the change as “one of the most transformative initiatives we’ve seen in the history of the campaign”. 

“Over the course of the last year and a half, we have not only seen a tremendous increase in employee wellness and wellbeing but concurrently, our customer service and relations, as well as talent relations and retention also have benefited,” explained Mr. Ross. 

Read: Jeff Bezos Advises Against Expensive Purchases To Avoid Recession

Meanwhile, according to The Guardian, the Four Day Work Week Campaign is also operating a global pilot program for 3,300 employees at 70 companies. In September – during the trial – 88 percent of those companies reported that the four-day week was working “well” for their business and around 95 percent said productivity had either stayed the same or improved. 

As of now, the majority of companies that have officially adopted the new working pattern are in the service sector, such as technology, events, or marketing companies, although the campaign also noted that some manufacturing and construction companies have also joined the campaign.

Read: Is The Ideology of Work-Life Balance Unrealistic?

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