FinTech Futures Jobs: Can a four-day week succeed in fintech?
In 2022, 4 Day Week Global, in conjunction with the 4 Day Week Campaign UK and think tank Autonomy, conducted its biggest four-day working week programme to date. Around 2,900 workers at 61 companies took part in the UK trial from June to December of last year.
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The results of the trail have recently been released, and they are overwhelmingly positive, with 92% of organisations saying they will continue with a four-day working week. Of the five companies which are not set to continue, two have opted to extend their trials and three are pausing for the moment.
But could this ever work in the fintech sector? The fast-paced and rapidly evolving nature of the fintech scene is surely a deterrent to any company considering reducing its hours while continuing to pay its staff the same amount of money – a basic premise of the model.
However, change is already happening. UK-based Everledger, Evolution Money in Manchester, Kent-located Charity Bank and Liverpool’s Stellar Asset Management all participated in the most recent trial.
Meanwhile, Atom Bank was, at the time, the largest UK business and the first UK bank to trial a four-day week in 2021 as part of a previous study. The move saw Atom’s team switch to working 34 hours with no loss of pay. So how did it go?
“It’s clear that it has been a huge success for our business and our people. We are extremely proud of how our employees have adapted and the benefit it has brought to many,” says Anne-Marie Lister, chief people officer at Atom Bank.
“We believe most organisations can move to a four-day week and we hope Atom’s experiences will encourage more businesses to make the shift permanently.”
Key metrics
Precisely how successful Atom’s trial was can be measured by a series of key metrics. The bank looked at the impact on employees, customer service and operations. In all areas, it saw improvements.
Atom found that 92% of workers looked forward to work, with a year-on-year increase in employee engagement, which was up 13%. It also noted a 49% increase in applications for roles at the bank.
When it came to customer satisfaction, Atom tracked Trustpilot scores, which rose from 4.54 (out of 5) in November 2021 to 4.82 in June 2022. Its customer goodwill score went from 83.1% to 85.8% in the same period.
Perhaps most crucially though, 91% of Atom’s workers said they were able to get everything done within four days, and the bank also noticed that its operational productivity increased.
Positive impacts
With the 2022 trial, results are broadly similar. Companies rated their overall experience
of the trial as an 8.3/10 and business performance and productivity both scored an average of 7.5/10 on two separate scales. On average, revenue rose by 1.4%, and when compared to a similar period from previous years, participating companies reported revenue increases of 35% on average.
Employee happiness was positively impacted too, with the number of staff leaving falling by 57% over the trial period, and 55% of workers reporting an increase in their ability at work.
If you’d like to make a move to a company offering more flexibility––whether that’s four days a week, more WFH options or the ability to work abroad for part of the year––there are plenty of options to discover on the Fintech Futures Job Board. Discover three below.
Program Manager, GoCardless, London
A global leader in account-to-account payments, GoCardless is also leading when it comes to work modes, allowing both flexible working or the ability to work away from your normal country of residence for up to 90 days.
The firm is looking for a Program Manager who will help to develop and manage a detailed program plan, predict resources needed to reach objectives and prepare a budget based on scope of work and resource requirements.
You’ll need experience in running cross-functional, multi-dimensional programs, and you’ll need to be tech savvy, with the ability to pick up new tools easily.
If this sounds like you, then you can apply here.
Senior Full Stack Engineer (Widget Team), MoonPay, London
Unlimited holidays and a remote-first policy are the key draw at MoonPay for those looking for a better work-life balance. The company builds payments infrastructure for cryptocurrencies and is seeking a Senior Full Stack Engineer.
You’ll work in the widget team, helping build a core set of products. You should apply if you have extensive engineering experience with the ability to develop, release and maintain web applications in a fast-paced, iterative environment.
Director, HRBP, Ripple, London
Ripple, which provides transformative crypto solutions, is looking for a Director, HR Business Partner to collaborate closely with leaders across the business to align people and strategy.
You will drive significant business growth and make an immediate impact through your expertise in organisational design, talent management strategy and leadership coaching. You will need 12-plus years of experience, with deep and progressive experience as a strategic HR business partner, plus prior team management experience.
For hundreds more opportunities across fintech, visit the Fintech Futures Job Board today.
