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It’s now greater than a yr since Atom financial institution turned the biggest UK enterprise, and the primary financial institution, to maneuver all workers to a 4 day working week, with no change in wage. In that point, Atom has seen a big constructive impression on workers, customer support, and operations – in addition to hitting quite a lot of vital enterprise milestones throughout 2022.
Buyer goodwill and satisfaction, a very powerful metric by which the impression of the four-day week was judged, has risen, opposite to expectations that the brand new working construction may result in a decline in service ranges. Buyer goodwill rose from 83 in November 2021, to 87 in November this yr.
In the meantime the scores of Atom’s iOS and Android apps, very important for a digital solely financial institution, are at new highs, with each now rated 5 having hit 4.8/5 this yr. Atom has additionally reached 7.7 on Trustpilot, making it the third greatest rated financial institution within the UK and its NPS is now +86, the best it’s ever been.
Happier and extra productive individuals
It’s clear that the four-day week is a gorgeous proposition for individuals in search of a more healthy work life stability. Atom has seen functions for roles enhance by a 3rd (33 per cent) this yr, in comparison with 2021, with headcount growing from 451 to 468. Most importantly, given the fierce warfare for expertise within the UK, Atom’s worker attrition fee has declined massively.
From November 2021 to October 2022, Atom’s attrition fee decreased by over a fifth (22 per cent) on the earlier yr. The four-day week has additionally resulted in individuals changing into extra motivated and happy of their roles. There was a 12 per cent rise in individuals engagement in the course of the newest inner survey in October in comparison with February 2021.
A implausible yr for Atom
Alongside these metrics, Atom has additionally achieved vital enterprise progress underneath a four-day working week. Whole buyer numbers have had a file enhance, with 80,000 individuals deciding to financial institution with Atom in 2022, up 77 per cent on final yr.
Financial savings balances practically doubled this yr (up 96 per cent) to over £5billion, with Atom launching a 9-month Fastened Saver and providing a few of the greatest charges in many years to help savers throughout the price of residing disaster.
Atom not too long ago noticed two consecutive months of file working revenue in October then November, a constructive step because the financial institution seeks to achieve profitability. Atom has additionally raised greater than £100million in fairness within the final 12 months, which might be used to gasoline additional lending and drive the continuing progress and improvement of the financial institution.
Firm transformation
Anne-Marie Lister, chief individuals officer at Atom, stated: “Shifting to a four-day week has not been with out its difficulties, nevertheless it is without doubt one of the most transformative issues we’ve achieved as an organization.
“Since we launched our trial in November 2021, we now have not solely seen a extra productive, more healthy, and, crucially, happier workforce, however our customer support metrics are at file highs and extra individuals need to begin a profession with Atom. It took plenty of planning, communication and listening to make it work, however having began out as a pilot we now have now confirmed the brand new working construction into individuals’s contracts.
“Sceptics could argue {that a} enterprise couldn’t develop underneath a four-day week, nevertheless this yr has been one in every of continued progress and improvement at Atom. Prospects have flocked to the financial institution in file numbers and the service we now have supplied them stays among the many greatest within the nation. With our newest capital elevate permitting us to gasoline additional progress, we’re assured that we’ll see one other implausible yr for the enterprise and our individuals as we transfer into 2023.”
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