Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Four-day working taking place of pay increases to keep staff happy

by November 29, 2022
November 29, 2022
Four-day working taking place of pay increases to keep staff happy

Working a four-day week with no loss of pay is becoming more prevalent as employers offer alternative solutions to meet demands for salary increases to match soaring inflation.

More than a hundred British companies and organisations have become permanently accredited four-day working week employers since the pandemic. Companies in sectors including manufacturing, architecture, technology, retail, housing, marketing, construction and events have been accredited in the past 18 months through the 4 Day Week Campaign’s employer accreditation scheme.

The two biggest companies to sign up are the global marketing company Awin and Atom Bank, each of which has about 450 employees in the UK.

The accreditation scheme cites a four-day working week of 32 hours with no loss as the gold standard and a 35-hour week as silver standard. Organisations can gain accreditation only if they are able to demonstrate a genuine reduction in working hours.

Further evidence of a move beyond the traditional 9am to 6pm Monday to Friday working week was also provided yesterday in a new report.

According to the report from Women in Banking and Finance and the London School of Economics (LSE), financial and professional services are moving towards more bespoke working models that boost efficiency and give workers more autonomy.

The result has been a move away from presenteeism as a marker of productivity. The 100 workers interviewed insisted that a “remote first” move either had no impact on productivity or had a positive impact.

The report, which covered workers at companies including BlackRock, Goldman Sachs and Schroders, said the financial sector was going far beyond the four-day work week that is being trialled in many firms in the UK.

Grace Lordan, 42, at the LSE, said: “Firms that are adopting a ‘remote first’ approach, expecting their workers to be in the office only to collaborate or fulfil operational needs, are those that can attract and retain the most diverse talent, particularly women.

“Firms that demand their employees are in the office for no reason will lose out on diverse talent pools. These demands are also ego-driven rather than having the best interests of the business in mind.”

The four-day week accreditation scheme is separate from the biggest four-day week pilot taking place in the UK, involving more than 70 companies and 3,300 workers.It is due to end at the beginning of next month, after running for six months.

Also running pilots early next year will be the Scottish government and a local authority trial run by South Cambridgeshire district council.

Joe Ryle, 31, director of the 4 Day Week Campaign, said that accrediting a hundred employers demonstrated the momentum gathering behind a four-day week and he wanted it to become the normal way of working by the end of the decade.

“With many businesses struggling to afford 10 per cent inflation pay rises, we’re starting to see increasing evidence that a four-day week with no loss of pay is being offered as an alternative solution,” he said.

Adam Ross, 41, chief executive of Awin, described the six-month trial as “one of the most transformative initiatives we’ve seen in the history of the company”. Staff wellness and wellbeing had been boosted and its customer service had also benefited.

Read more:
Four-day working taking place of pay increases to keep staff happy

0
FacebookTwitterGoogle +Pinterest
previous post
Fall in mortgage borrowing after mini-budget turmoil
next post
Advantages and Disadvantages for E-Commerce Business

You may also like

Royal Mint opens pioneering facility in south Wales...

August 7, 2024

National Apprenticeship Week: Using apprenticeships as a workforce...

February 2, 2024

Only a third of hospitality firms optimistic about...

May 30, 2023

Rising rental costs and lack of choice forcing...

November 29, 2023

Land Rover and Range Rover hybrid sales surge...

October 31, 2024

Wazamba Casino Revealed: Our Honest Review on Games...

November 27, 2023

UK fines 10 carmakers and two trade bodies...

April 1, 2025

A “spontaneous act of colossal stupidity” – why...

August 30, 2022

Thierry Bolloré steps down as CEO of UK’s...

November 17, 2022

Interpath Advisory Faces Losses as Middleton Family Business...

April 2, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Disabling Trump’s “Tariff Button”

      June 5, 2025
    • ‘Sick puppy’ Tim Walz should never have been on Dems’ 2024 ticket, Trump says

      June 5, 2025
    • Federal judge orders Trump to restore funding to Clinton-era agency gutted by DOGE

      June 5, 2025
    • Musk says Trump would have lost 2024 election without him as ‘Big Beautiful Bill’ feud continues

      June 5, 2025
    • Ex-Biden adviser calls Jean-Pierre ‘kinda dumb,’ deletes tweet, says she’s not a ‘genius-level Black woman’

      June 5, 2025
    • ‘Coming for us’: Expert sounds alarm on CCP’s mission to ‘kill Americans’ after FBI makes shocking arrests

      June 5, 2025

    Categories

    • Business (8,148)
    • Investing (2,010)
    • Politics (15,535)
    • Stocks (3,128)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved