Atom Financial institution has launched a four-day week for all its workers because it pursues its purpose of bettering workers wellbeing whereas growing productiveness.
The Durham app-based financial institution, which has 430 staff, launched the brand new coverage originally of this month and the vast majority of its workers have adopted the brand new mannequin. This follows the introduction of versatile working in the course of the pandemic, which was welcomed by Atom’s staff.
The financial institution stated it’s “reshaping the character of labor to take account of longer working lives, the optimistic affect of know-how and versatile working, and the necessity to dwell and work extra sustainably”.
Through the pandemic, workers have shown a preference for flexible working and Atom has reacted with a coverage which means workers can transfer to a 34-hour week over 4 days from 37.5 hours over 5.
Mark Mullen, CEO at Atom, stated that since March final 12 months, the financial institution needed to adapt quickly to new methods of working. “Our expertise has exploded most of the myths of the fashionable office,” he stated. “It has occurred at a time once we all must turn into extra conscious of the affect of labor on each our psychological and bodily wellbeing. We now know that many roles may be finished as effectively and productively from folks’s personal properties as from the workplace. However why cease there? Extra may be finished – extra wants to vary.”
Atom carried out a overview to analyse whether or not the transfer may introduce threat to customer support or operations. It checked out productiveness, effectiveness, obtainable sources, and the affect on exterior companions and stakeholders. “These measures proceed to be captured as a part of a business-wide evaluation of each business and wellbeing advantages of this alteration,” stated the financial institution in a press release.
The choice goes hand in hand with versatile working insurance policies launched in the course of the pandemic.
Atom stated it believes progressive companies will profit by making the five-day week turning into as pointless as everlasting workplace working.
“A four-day week will present our staff with extra alternatives to pursue their passions, spend time with their households and construct a more healthy work-life stability,” stated Mullen. “We firmly consider that it will show helpful for our staff’ wellbeing and happiness and that it’ll have an equally optimistic affect on enterprise productiveness and buyer expertise.
“Whereas we recognize a four-day working week is not going to be proper for all workplaces, the transfer to working from dwelling has proved that working practices which will have appeared years away may be launched quickly.”
Atom Financial institution, which delivers its services via an app for cellular units, received its banking licence in 2015 and opened its doorways to the general public in October 2016 following an invite-only launch.