Atom Bank adopts a four-day workweek without reducing pay

Atom Bank announced on Tuesday it had reduced its weekly hours for its 430 staff from 37.5 to 34. It expected that most workers would take Monday off or Friday off. Staff would be required to work slightly more days if the change is voluntary.

The company stated that the policy was in place to improve productivity and support Atom’s employees “mental and physically well-being.” Most of the company’s workers have now switched to the new workweek.

Atom CEO Mark Mullen released a statement saying that a week of four days will give our employees more opportunities for their passions, time with their family, and a better work/life mix.

Mullen claimed that Atom’s experience with the pandemic “exploded many of today’s workplace myths,” including the need for people to work in offices.

Atom was founded in 2016 as a mobile banking platform. Through its mobile app, it offers mortgages, business loans, and savings accounts.

CNN Business spoke to Mullen, stating that Atom didn’t test the new schedule in smaller groups before implementing it.

He said, “Everyone had the opportunity to try it to see if it worked.”

He stated that so far he hasn’t noticed a decrease in productivity or levels customer service but that it would “take people time to adjust.”

“If you have spent 20 years in one type of car and suddenly you are thrown into another, then you get up Friday morning wondering ‘what’s the point?’ Mullen said.

Workers have long desired a better balance between work and life. Between 2015 and 2019, two studies were conducted in Iceland. Try a 4-day work weekAt the same rate, participants did not experience a drop in productivity. However, there was a dramatic rise in employee well-being.
As the pandemic drove millions to remote work, Calls for greater flexibilityThese voices have only grown more louder.
Elephant Ventures, New York City-based software and data engineering company, announced that it had Permanently transferred to a weekly work week of four daysIt was successfully tested in August 2020.

Mullen stated that the five-day workweek was a relic from the 20th century and that he believed more companies would follow Atom’s lead.