100 UK firms switch to four-day working week: How the new policy is useful to attract employees

New Delhi: As many as 100 companies in the UK have signed up for permanent four-day working week for their employees and that too without any pay cut. One would then believe that the current working hours would go up so as to compensate for a day’s work lost in the week. However, the proponents of four-day week say that the move will drive companies to improve their productivity, effectively meaning that they can create the same output using fewer hours, even less than the normal shifts of 8-9 hours. These 100 companies employ 2,600 staff, which is  a tiny fraction of the UK’s working population. However, the move is being seen as the vanguard of a major shift in the times to come. Atom Bank and global marketing company Awin are among the biggest companies that have signed up for the policy. Both the companies have about 450 staff each in the UK. They have been accredited by the 4 Day Week Campaign as the companies demonstrated how they have genuinely reduced working hours rather than forcing longer days on their employees. For some early adopters the policy has also proven a useful way of attracting and retaining employees as it gives employees more me-time and relief from the prolonged routine grind. Calling five-day working week a hangover from an earlier economic age, proponents of the four-day week say that this is one of the most transformative initiatives which is aimed at well-being of the employees.

“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,” The Guardian report quoted Adam Ross, Awin’s chief executive, as saying.

According to the report, 88 per cent the companies surveyed in September and that were in the middle of the four-day week trial said the concept was working “well” for their business. About 95 per cent of the companies surveyed said productivity had either stayed the same or improved since the introduction. Benefits for employees and employers The campaign outlines plenty of benefits to this new model - for employees and employers. For workers, a four-day week reportedly helps with a better work-life balance which will encourage ‘happier and more fulfilled lives’. It allows more time for neglected aspects of life, such as rest, spending time with friends and family, hobbies, exercise, and admin tasks such as cleaning, shopping, running errands. The 4 Day Week Campaign also says it will help with the cost of living, as it reduces the money spent on things such as childcare and commuting - and is accompanied by no loss of pay. For employers, a key argument is that studies suggest a four-day week will increase productivity and encourage better performance, and as a pull-factor for staff, companies should be able to attract and retain greater talent amongst employees. Others point out that it will boost industries which rely on customers having free time, such as hospitality and tourism. What is a four-day working week? A four-day work week is pretty much how it sounds - staff would work for four days and get a three-day weekend. But what’s worth noting is that this doesn’t mean employers have to enforce the same working hours in a shorter period of time. The 4 Day Week Campaign is instead calling for a 32 hour working week, which for most, would take the form of 8 hour days. Is India ready for four-day week? Experts believe that India is not ready for a four-day work week, given the layered labour market and massive diversity of employers. “It’s largely because the labour market is layered, and there is a massive diversity of employers,” Kamal Karanth, co-founder of specialist staffing firm Xpheno, had told Moneycontrol in an interview in June. “A broad brush look at four-day week is tentative right no,” he had said. John Poulose, the founder of career consulting and corporate training firm Eclatmax, said that the Indian market was not mature like those in Europe and the US. “While it (four-day work culture) cannot be done across sectors and across roles; even where it is possible, it will need a mindset change from the employer,” he told Moneycontrol. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.