Lincoln-based financial advice firm Almond Financial has introduced a four-day working week in order to combat a shrinking talent pool within the finance sector.
The permanent change, which will take full effect later this year, will see the firm’s employees work Monday through to Thursday from 9am until 5pm, with no condensed hours or reduction in earnings.
The four-day week is intended to allow all staff to spend more time with their families, to enjoy their hobbies, to show appreciation for their hard work, and attract and retain talented advisors in an increasingly competitive market.
The firm also aims to strengthen relationships by demonstrating focus on sustainability and wellbeing and maintain client service as its top priority. Its goal is to ensure clients receive the same level of service, with no drop in quality or responsiveness.
Sam Robinson, principal financial advisor at Almond Financial, said: “While each organisation is different, we’re seeing that innovative working practices can succeed in finance when properly implemented. The benefits of a motivated team are universal. The research is clear: well-rested employees boost productivity, reduce stress, and take fewer sick days, which ultimately benefits employees and the organisation.
“Financial advice firms may need to modernise their approach to attract new talent, with practices benefiting work-life balance aiming to attract Gen Z and Millennial candidates. This unconventional move in the industry is justified by its expected benefits. These factors will enhance the overall success and sustainability of the organisation and support our modern forward-thinking approach.”
Almond Financial also offers income protection, 4% employer pension contributions and five times death in service cover, access to a company car for advisors, and fully funded private medical insurance, which includes free mental health support and counselling.