LONDON–Is a shorter work week ahead for employees of some credit unions? Perhaps, should CUs follow the lead of at least one bank.
In London, Atom Bank has become the latest to move to a four-day work week for all of its 430 employees. The objective is to reduce workers' stress while keeping productivity up.
Atom Bank, a digital-only bank founded in 2014, announced the policy by saying the truncated work week is voluntary and will have no impact on salaries.
“While a number of well-known firms have trialed shorter weekly hours in specific departments or regional offices, Atom has extended the option to everyone in the company,” reported Business Insider.
According to the report, employees have to clock in 34 hours now instead of 37.5, meaning that they'll have to work slightly longer days if they want to grab the extra day off. Atom expects most workers to take Monday or Friday off, the firm told The Financial Times.
Atom said that “if anyone at the firm prefers not to stay late in the office, they can continue working five days a week, but will still benefit from the reduced hours,” according to Business Insider.
Improving Work/Life Balance
The firm said it made the move to improve work-life balance, focus on employees' mental health and wellbeing, and reduce environmental impact, the report added.
"It's said that absence makes the heart grow fonder, but the past two years have taught us how important it is that we're able to spend quality time with our loved ones," Atom Bank said in a statement. "On top of this, the extra stress brought on by working through a pandemic has forced many of us to re-evaluate the relationship between our jobs and our personal lives."
Atom CEO Mark Mullen told CNN Business the firm hasn't seen a drop in productivity or customer service quality yet, but that it would "take time for people to adjust.”