# Productivity and the four-day working week in financial services
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-09-07
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: The Truth About the Four-Day Working Week in UK Finance Sector
Meta Description: Discover the effects of a four-day working week on UK financial services, as highlighted by Atom Bank's trial and the challenges it poses for productivity
URL: https://financedigest.com/productivity-and-the-four-day-working-week-in-financial-serviceshtml

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_![Andrew Jones, is CEO of agile management consultancy](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/098-1736815271877-compressed.jpg)_

_By **Andrew Jones,** is CEO of agile management consultancy, Agility in Mind_

Nearly a year ago, Atom Bank became one of the first UK financial services firms to move its workforce to a four-day working week without reducing their pay. A survey which measured the trial’s success six months in found that 92% of Atom Bank’s workforce reported starting to work more efficiently due to their reduced hours. As workers’ expectations of flexibility grew, [managers across the sector were paying](https://www.financedigest.com/with-the-right-active-manager-you-really-do-get-what-you-pay-for.html "With the Right Active Manager, You Really Do Get What You Pay For") attention to see whether this might be a viable path for their own business to consider.

However, the results Atom Bank recorded are in contrast to some of those from a UK-wide four-day [working week](https://www.financedigest.com/spain-offers-to-pay-companies-testing-a-4-day-work-week.html "Spain offers to pay companies testing a 4-day work week") trial run by campaign group ‘4 Day Week Global’, a think tank and academics from Oxford, Cambridge and Boston College, which is currently being undertaken by 73 companies. Reports of ‘deep chaos’, difficulties, and hindrance when it [comes to hiring](https://www.financedigest.com/why-is-accounting-coming-up-short-when-it-comes-to-new-hires.html "Why is Accounting Coming Up Short When It Comes To New Hires?") have been rife in the media since the scheme’s inception.

Although many organisations in sectors such as [retail and manufacturing have long operated](https://www.financedigest.com/iveco-to-transfer-nordic-retail-and-commercial-operations-to-hedin.html "Iveco to transfer Nordic retail and commercial operations to Hedin") with a model which allows much of their workforce to work less than five days a week, the focus on promoting healthy work/life balances has led companies across all sectors – including finance – to evaluate whether this could be an optimal model for their staff.

Simply put, it’s often not. There are two main drawbacks to this type of intense focus on a four-day working week as the only means of initiating a healthier work/life balance; the loss of flexibility for employees and the possibility of unintentional exploitation of [workers unable to free themselves from others’ conflicting work](https://www.financedigest.com/1-in-5-uk-workers-believe-there-is-a-gender-divide-with-work-uniforms.html " 1 in 5 UK workers believe there is a gender divide with work uniforms") schedules. When it comes to the loss of flexibility for workers, take the example of working parents. If they are expected to [work longer hours](https://www.financedigest.com/low-use-of-shortened-work-hours-points-to-mild-german-recession-ifo.html "Low use of shortened work hours points to mild German recession – Ifo"), what will procedure be when they need to pick their children up from school or provide childcare in the early evening?

For those who [work within a financial](https://www.financedigest.com/turning-a-blind-eye-wont-work-for-financial-firms-as-the-fca-tightens-its-grip.html "TURNING A BLIND EYE WON’T WORK FOR FINANCIAL FIRMS AS THE FCA TIGHTENS ITS GRIP") services provider, the opportunity to be unintentionally exploited is thrown wide open by conflicts in schedule between the team and their clients. Finance sector stakeholders, managers and clients often demand premium [services](https://www.financedigest.com/brand-metrics-bolsters-client-services-team-as-brand-lift-measurement-booms.html "Brand Metrics bolsters client services team as brand lift measurement booms") in an ‘always-on’ culture which sees many companies regularly working with clients overseas. As has so often been the case for those [returning to work](https://www.financedigest.com/despite-return-to-work-virtual-meetings-will-continue-to-disrupt-business-as-usual-in-finance.html "Despite Return to Work, Virtual Meetings Will Continue to Disrupt Business as Usual in Finance") part-time, they may find themselves working more than their contracted hours for no extra pay. The temptation to respond to emails on a weekly day off or attend an [event may lead](https://www.financedigest.com/easy-steal-blame-management-not-hackers-cyber-events-lead-losses.html "Too easy to steal: blame management, not hackers, when cyber events lead to losses.") to a less healthy work/life balance than to begin with.

**Challenges to productivity – and how to address them**

Businesses across the [financial services sector](https://www.financedigest.com/iot-for-the-financial-sector.html "IoT for the Financial Sector") are facing plethora of challenges ranging from supply chain delays to rising operational costs. Focusing on productivity through volatile times is often easier said than done, but there are three core actions [managers can take to help this process](https://www.financedigest.com/how-ai-will-transform-financial-management-processes.html "How AI Will Transform Financial Management Processes").

**Move into the mindset of seeing things from a value perspective.** Managers should be focussing in on the services and products the company already offers as well as existing [processes to assess where efficiencies](https://www.financedigest.com/1-easy-tip-to-make-a-key-e-commerce-process-more-efficient.html "1 easy tip to make a key e-commerce process more efficient") can be made. By listening to those [close to the processes](https://www.financedigest.com/can-digital-labour-displace-cfos-in-the-close-process.html "CAN ‘DIGITAL LABOUR’ DISPLACE CFOS IN THE CLOSE PROCESS?") they largely oversee, or on ‘the shop floor’, who might have simple yet effective ways of streamlining their processes, they can foster a culture of finding a better way of doing things.

**Be extra vigilant of how teams are faring.** With so much disruption to the [way we work and live](https://www.financedigest.com/redefining-renting-tipi-launches-the-best-way-to-live-in-london.html "REDEFINING RENTING: TIPI LAUNCHES ‘THE BEST WAY TO LIVE IN LONDON’"), coupled with the growing cost-of-living crisis, managers should be extra vigilant of how their teams are faring. By treating their [teams as individuals with different motivations and needs](https://www.financedigest.com/why-finance-teams-need-to-go-beyond-numbers-to-an-active-relationship-with-data.html "Why finance teams need to go beyond numbers to an active relationship with data "), they can work to keep as many of their team as happy as possible, in turn inspiring their loyalty.

**Make sure your workforce is aligned with the company’s vision and has a sense of purpose.** [Key](https://www.financedigest.com/6-keys-to-managing-a-remote-first-workforce.html "6 Keys to Managing a Remote-First Workforce") to ensuring that their workforce remains productive despite pressures outside of work is to talk to them about what’s important to them and what gives them a sense of purpose. By understanding what makes someone happy at work, leaders can empower employees and [build a working culture](https://www.financedigest.com/7-tips-for-building-a-positive-remote-work-culture.html "7 tips for building a positive remote work culture") that tackles the difficult business climate head on.

While the motivation behind initiating a four-day working week might be a noble one, [employers must be wary of letting rigorous schedules define flexibility for employees](https://www.financedigest.com/neyber-brings-on-board-james-malia-to-leadership-team-to-support-employers-success-in-driving-employee-financial-resilience-goals.html "Neyber brings on board James Malia to leadership team to support employers’ success in driving employee financial resilience goals"). It may work for some, but it is not a catch all [solution to improving](https://www.financedigest.com/finance-transformation-cloud-solutions-can-catalyst-process-improvement-well-driver-business-transformation.html "Finance Transformation: How cloud solutions can be a catalyst for process improvement as well as a driver of business transformation.") work/life balance for all. [Recognition that each employee](https://www.financedigest.com/why-is-employee-reward-and-recognition-so-important.html "Why is employee reward and recognition so important?") is an individual with their own life outside of work will go a lot further in establishing good working practises.


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