Lincoln firm moving to four-day week 'to attract the best staff'

A company located in Lincoln recently announced the implementation of a four-day work week, aiming to attract top talent in a highly competitive industry. This move reflects the challenges companies face in recruitment and the trend of seeking innovative ways to enhance employee appeal. The company hopes this change will improve their ability to attract and retain talent.

Sam Robinson, head of Almond Financial, likened the benefit to "semi-retirement." Last month, the 4 Day Week Campaign stated that over 200 companies nationwide have committed to the concept, believing it will increase productivity. However, Bells Tea Shop, another business in the city, indicated that shortening the work week would require hiring more staff, thereby increasing wage expenses. This difference in opinion highlights the varied impacts of such a policy.

Mr. Robinson, 39, stated that employees at the financial advisory firm will work from 09:00 to 17:00 (GMT) Monday through Thursday, with no reduction in pay. He added, "Recruitment is incredibly difficult in the competitive market we're in, and we want to make sure we stand out. A happy workforce is a strong workforce." This decision was made after evaluating Almond Financial's existing four-and-a-half-day work week, which has been in place for three years. The firm believes this will further enhance employee satisfaction.

The 4 Day Week Campaign has long advocated for change, claiming that the five-day work week is outdated and no longer suitable. Joe Ryle of the campaign described the change as a "win-win" for employees and employers, with employees enjoying more leisure time and companies benefiting from higher productivity and fewer sick days. Last week, a dozen MPs called on ministers to consider incorporating the idea into a new set of workers' rights rules, but a government spokesperson said there are no current plans to do so. Labour MP Peter Dowd stated, "A four-day, 32-hour working week is the future of work." The campaign is actively pushing for broader adoption of this model.

Not all business owners are convinced that this model is suitable for them. Nicola Lockwood, owner of Bells Tea Shop, said the idea is good in theory, but she would have to hire more staff to maintain opening hours, which would have a "huge" impact on her wage expenses. "We all want to work less hours for the same pay," she said. "But ultimately the prices have to go up." This highlights the practical challenges faced by some businesses in implementing such a change.