Charity Bank, which provides specialist financial services to the voluntary sector, is trialling a four-day week for staff.
The pilot programme, which begins today and will run for six months, will be part of a “meaningful redesign of how we work”, the bank said.
Under the scheme, staff will receive the same pay but their standard working week will be reduced from 35 hours to 28 hours.
Charity Bank described this as a 100:80:100 model, with employees getting 100 per cent of their pay and working 80 per cent of their previous hours, while committing to maintaining “at least 100 per cent productivity”.
Charity Bank has loaned more than £300m to charities, social enterprises and housing associations since it was founded in 2002, according to its most recent impact report.
Ed Siegel, the chief executive of Charity Bank, said the pandemic had “really moved the goalposts” on its approach to flexible working, adding that “the move to a four-day work week seems a natural next step”.
Siegal said: “With a meaningful redesign of the way we work, we expect to improve efficiency without affecting productivity, whilst enhancing the physical and mental health of our colleagues.
“In essence, a happier and healthier workforce is more productive and delivers superior customer service, which enables us to do more for the charities and social enterprises we exist to serve.”
The shift will put Charity Bank “on the right side of history”, he said.
