The Margin: A new four-day work week experiment is underway in the U.K. — here’s what to know

by | Jul 5, 2022 | Stock Market

Employees at 70 U.K. companies are participating in a revolutionary new pilot program that will test the merits of a work week that’s one day shorter than usual. The program was organized by nonprofit 4 Day Week Global, the 4 Day Week Campaign and research organization Autonomy, and began the week of June 6. Those three groups recruited companies and organizations to apply to the program, and gave them tools to measure factors like productivity and employee well-being before, during, and after the program.

The program will last six months (June to November) and includes 3,300 employees at 70 companies ranging from the financial services industry to local restaurants, organizers informed MarketWatch. It technically began on June 1, but the Queen’s Jubilee created a shorter work week, so the program officially started the week of June 6. See also: 1 in 3 Americans earning $250,000 or more say they live paycheck to paycheck — are they really? As part of the program, employees will work 80% of their normal hours for the week (now 32 hours instead of 40 hours), but receive 100% of their usual pay. One of the goals of the program will be to find out if workers can maintain the same level of productivity while working fewer hours; another goal will be to find out if it will boost employees’ overall quality of life. “As we emerge from the pandemic, more and more companies are recognizing that the new frontier for competition is quality of life, and that reduced-hour, output-focused working is the vehicle to give them a competitive edge,” Joe O’Connor, chief executive of 4 Day Week Global, said in a statement. See also: Suze Orman says this bond is the ‘No. 1 investment’ to make amid rising inflation Researchers at Camb …

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