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Challenger financial institution Atom has made a four-day working week everlasting after a profitable trial over the previous 12 months.
In November 2021, the app-based financial institution introduced a four-day working week for its then 430 workers, with no change on salaries. This got here after versatile working, launched throughout the Covid-19 lockdown, proved successful.
Now, the financial institution has made the brand new working association an organization coverage after a profitable 12 months the place it hit its enterprise targets.
Anne-Marie Lister, chief folks officer at Durham-based Atom, stated: “Transferring to a four-day week has not been with out its difficulties, nevertheless, it is without doubt one of the most transformative issues we’ve executed as an organization.
“Since we launched our trial in November 2021, we now have not solely seen a extra productive, more healthy, and – crucially – happier workforce, however our customer support metrics are at report highs and extra folks wish to begin a profession with Atom. It took numerous planning, communication and listening to make it work, however having began out as a pilot, we now have now confirmed the brand new working construction into folks’s contracts.
“Sceptics might argue {that a} enterprise couldn’t develop below a four-day week – nevertheless, this 12 months has been one among continued progress and growth at Atom. Clients have flocked to the financial institution in report numbers and the service we now have provided them stays among the many greatest within the nation. With our newest capital elevate permitting us to gas additional development, we’re assured that we’ll see one other incredible 12 months for the enterprise and our folks as we transfer into 2023.”
Up to now 12 months, Atom has grown its whole buyer base by 80,000 in 2022, up 77% on 2021. The financial institution stated financial savings balances are up 96% to over £5bn.
Atom Financial institution, which delivers its services by means of an app for cell gadgets, obtained its banking licence in 2015 and opened its doorways to the general public in October 2016 following an invite-only launch.
In June this 12 months, greater than 3,000 staff at 60 firms started a coordinated, six-month trial of a four-day working week within the UK, marking the world’s largest pilot scheme for a shorter work week up to now.
Organised by 4-Day Week International in partnership with assume tank Autonomy and the 4-Day Week UK Marketing campaign, the trial has seen companies – together with various expertise firms – undertake a decreased working week with no lack of pay from June to December 2022.
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