Lincoln-based financial firm Almond Financial has announced that it is transitioning to a four-day working week to attract and retain staff, offer a better work-life balance, and improve efficiency.
Following the introduction of the new working hours, staff will not receive a reduction in pay or be required to work extended hours. They will work 32 hours a week, while ensuring they maintain the same level of service.
It expects to introduce the four-day-week in June.
The aim of the initiative is to stand out as a forward-thinking employer, as the number of financial advisors aged 22-25 across the industry has dropped significantly in recent years. It hopes that the three-day-weekend will allow staff to enjoy more time at home with their families, and ensure they feel rested and ready for the week ahead.
Almond Financial has been operating over four and a half days a week for the past three years. During this period, productivity has increased and service levels have remained strong. The firm has also been improving its service levels and reducing its carbon footprint by modernising its practices, as 85% of meetings are conducted online and can be hosted at any time of day to cater to clients’ schedules.
Sam Robinson, director at Almond Financial, said: “The firm has been working hard to implement different systems to help the team become more efficient and productive. There will be no changes to the way the business is run and there will be no changes to the charging structure. I believe Almond Financial operates higher than the industry average in terms of service level.”
Morgan Varlow, head of marketing at Almond Financial, added: “We are looking to retain and attract the best talent to the team. Keeping the team happy will have a positive impact on the work we do for our clients.”
