A company boss has given all of his staff a four day week - without docking any pay. Martyn King, managing director of marketing firm Fuel, started the four-day week trial this month.
Fuel provides market insights into major businesses such as Google and Meta and plans to operate under their new model until March 2023 as part of a six-month trial which has already seen their revenues grow by 107%. Thanks to a new scheduling system they still operate five days a week.
The only trade-off is that staff now have to start work at 8am, working until the usual 5pm - an extension of their working hours but a net loss of 3 hours per week for staff. With the new hours, staff have essentially received the equivalent of a 9% pay rise in their hourly rate, introduced alongside payrises to combat the cost of living crisis.
