A digital bank has become the UK’s largest employer to move to a four-day working week with no change in employees’ salary.
Atom Bank, a challenger bank founded in 2013, introduced the 34-hour working week option spread over four days this month.
The majority of the bank’s 430 staff have opted for the four-day week, as opposed to the old working week of 37.5 hours spread over five days.
Atom Bank chief executive Mark Mullen said the move would allow employees to spend more time on their passions, and will increase productivity.
“We believe the 20th century concept of a five day week is, in many cases, no longer fit for purpose for 21st century businesses,” he said.
“Its introduction originally allowed for the establishment of the weekend, with all the benefits for employees this entailed.
“At Atom, we feel the time is right for the next evolution in the world of work.”
Mondays or Fridays are expected to be the default days off for the majority of employees, said the business.
The move comes as the pandemic continues to shape the workplace, with many workers continuing to work from home and not in the office.
“While we appreciate a four-day working week will not be right for all workplaces, the move to working from home has proved that working practices that may have seemed years away can be introduced rapidly,” added Mr Mullen.
Earlier this year, a review chief looking into the government workplace said a four-day working week could become the new normal after Covid.
Flexible Working Taskforce chairman Peter Cheese said that if one thing was going to change after the pandemic, it could be the standard five-day week.
“And it could emerge in lots of different forms, one of which could be a four-day working week,” he said.
