Australia’s largest health insurer will double the number of employees who can work four days a week without taking a pay cut.
Medibank, which employs almost 4,000 people, made the announcement following a successful six-month trial in which 250 employees received the reduced working week.
The health insurer adopted the new work trend at the end of October and moved employees to a 100:80:100 model, that is, 100 percent of salary, 80 percent of the time, with 100 productivity. percent.
Participants, including people who worked part-time and in customer service positions, were “happier, healthier and more efficient.” The Australian reported.
The program will be expanded to include 250 additional workers, bringing the total number of employees working a four-day week to 500.
Medibank head of people and sustainability Kylie Bishop said working fewer hours had reaped a number of rewards.
“We have seen significant and sustained improvements in employee engagement, job satisfaction and participant health and wellbeing, while maintaining business performance and customer outcomes,” Ms Bishop said.
“The shortened week drove a focused effort on planning and clearer alignment and agreement on outcomes and how work is done.”
Australia’s largest health insurer to double the number of employees who can work four days a week without taking a pay cut
Medibank said staff who worked four days were 4.5 per cent more satisfied with their jobs and 6.7 per cent more engaged.
Ms Bishop said the deal led to less “low-value work”, including unnecessary meetings and “double manipulation”.
The biggest benefit for employees was the reduction in stress over time allocation in “work-family conflict,” which was reduced by 31.4 percent.
Staff also reported a 29.9 percent decrease in sleep disorders, a 17.5 percent drop in unhealthy eating, and a 16.3 percent increase in overall health.
People also said they were better able to psychologically disengage from work and were more resilient.
The trial was part of the 4 Day Week Global movement, founded by New Zealand entrepreneur Andrew Barnes after his financial services company Perpetual Guardian began working fewer hours in 2018.
Wesfarmers-owned Bunnings has also been trialling different working models, such as a four-day week or a nine-day fortnight, for the first time in the Australian retail industry.
The program will be expanded to include 250 additional workers, bringing the total number of employees working four days a week to 500.
Anti-poverty organization Oxfam Australia is believed to be the first company in the country to trial a 30-hour week in March.
Oxfam Australia CEO Lyn Morgain said “human capital is a scarce commodity” and businesses need to explore different models that promote a good workplace culture.”
Unilever, Australian maker of Dove, Rexona, Surf, Omo, TRESemmé, Continental and Streets household essentials, announced it would extend the 4-day workweek trial to its Australian business in 2022.
In December 2020, Unilever New Zealand adopted a four-day working week in a successful trial that lasted 18 months.
The New Zealand pilot found that 67 percent of employees reported better work-life balance, while stress fell by 33 percent and absenteeism fell by 34 percent, all while meeting the business and income objectives.
