Atom Bank’s Four-Day Working Week Made Permanent After Record-Breaking Year

It’s been over a year since then atom bank became the UK’s largest company and the first bank to switch all employees to a four-day work week and keep salaries unchanged. During that time, Atom not only achieved many significant business milestones during 2022, but also had a significant positive impact on its workforce, customer service and operations.

Contrary to expectations that the new work structure could lead to lower service levels, customer favorability and satisfaction the most important indicators for determining the impact of the four-day work week are rising. increased from 83 in November 2021 to 87 in November this year.

Meanwhile, Atom’s iOS and Android app ratings, which are essential for digital-only banks, hit new highs this year, reaching 4.8/5 with both ratings of 5. Atom also reached a 7.7 on Trustpilot, making it the third highest rated bank in the UK, and its NPS is now +86, its highest ever.

happier and more productive people

Clearly, a four-day work week is an attractive proposition for those looking for a healthier work-life balance. At Atom, his number of job applications increased by a third (33%) this year compared to 2021, and his headcount increased from 451 to 468 for him. Most importantly, given the intense competition for talent in the UK, Atom’s employee turnover has dropped significantly. .

From November 2021 to October 2022, Atom’s turnover rate fell by more than a fifth (22%) from the previous year. The four-day work week has also made employees more motivated and satisfied with their roles. The latest internal survey in October showed his 12% increase in people engagement compared to February 2021.

great year for atom

In addition to these metrics, Atom has also achieved significant business growth with a four-day work week. Total customer numbers are on record growth, with 80,000 people deciding to bank with Atom in 2022, a 77% increase from last year.

Savings balances nearly doubled this year (up 96%) to over 5bn. Atom has launched a 9-month fixed savings account, offering the highest interest rates in decades to help savers facing cost of living crisis.

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Atom recently posted two consecutive months of record operating profit in October and November. Atom has also raised over 100 million of his stake in the last 12 months. This will be used to facilitate further lending and facilitate the Bank’s continued growth and development.

Company transformation

Anne Marie Lister Atom’s Chief People Officer said: 4 days a week It’s not been without its challenges, but it’s one of the most transformative things we’ve done as a company.

Since we launched the trial in November 2021, our employees are not only more productive, healthier and most of all, happier, but our customer service metrics have reached record highs. and more and more people are looking to start their careers with Atom.It took a lot of planning, communication, and listening to make it work, but starting as a pilot has given us a new working structure. It has become part of people’s contracts.

Though skeptics may argue that a business cannot grow on a four-day work week, this year has been one of continued progress and development for Atom. The service we provided remains among the best in the country and our latest funding will allow us to continue to grow and we are confident that 2023 will be a great year for our business and our people as we head into 2023.