business news

Four-day trial week with no loss of pay begins across firms in the UK

Date: June 06, 2022 Meghna Singh Meghna Singh
Four-day trial week with no loss of pay begins across firms in the UK 
Dozens of firms throughout the UK are reportedly piloting a four-day week with no reduction in pay as part of a trial to assess its impact on productivity.



As per reports, hospitality, banking, health care, as well as animation studios are among the variety of industries participating in the trial.



Despite having employees working for just four days, participating companies will continue to pay their employees 100% of their wages as long as they maintain optimal production.



The initiative is being touted as the world's biggest four-day week pilot, with organizers working alongside university researchers who will review the impact on productivity as well as employee well-being. They will also evaluate the impact on gender equality and the environment.



Juliet Schor, the trial's lead researcher and a professor of sociology at Boston College, stated that the four-day week is typically thought to be a triple dividend policy, benefitting people, employers, and the environment.



The organizers, 4 Day Week Global, are working alongside independent think tank, Autonomy, as well as the 4 Day Week UK Campaign. Other universities participating in the campaign include Cambridge and Oxford.



According to Joe O'Connor, CEO of 4 Day Week Global, because people had become used to not coming to the office during the pandemic, the UK found itself at the top of a wave of a global impetus behind the four-day week.



However, speculation of a four-day week in the UK precedes Covid-19, with Labour promising to implement it within a decade if Jeremy Corbyn's party won the general election in 2019.



Charity Bank, one of the firms participating in the six-month study, has more than 3,000 employees.



Ed Siegel, Charity Bank’s CEO remarked that following the pandemic, switching to a four-day week seems like a logical next step.



Siegel further added that the five-day working week of the twentieth century is no longer a great fit for a 21st-century company. A four-day workweek, with no reduction in pay or benefits, will result in happier staff, as well as good effects on customer experience, business efficiency, as well as the social mission.



Source credit: https://news.sky.com/story/uk-firms-begin-worlds-biggest-four-day-week-trial-with-no-loss-of-pay-12628545

About the author

View All Posts

Meghna Singh

An English Literature graduate, Meghna Singh ventured into the profession of content development to incorporate her knack for writing articles across verticals including technology, healthcare, business, and alike for News Origins and Newsorigins. She has also completed her MBA in Tourism and worked as a content creator in the field of product development.