Medibank expands four-day trial
Medibank says it will offer four-day work weeks to more staff after a successful trial.
Up to 500 employees will be offered an extra day off, doubling the initial trial participants.
It comes after a six-month experiment that analysts say demonstrated improvements in employee wellbeing, productivity, and overall job satisfaction.
It is growing to become one of the largest trials of its kind in the country and is being independently monitored by the Health and Wellbeing Research Unit of Macquarie University’s Business School.
The trial is based on the 100:80:100 model, meaning employees receive 100 per cent of their pay while working 80 per cent of their previous hours, maintaining 100 per cent of their productivity.
Medibank’s Group Lead - People, Spaces & Sustainability, Kylie Bishop, highlighted the positive results from the trial, saying; “We’ve seen significant and sustained improvements in employee engagement, job satisfaction and the health and wellbeing of participants, while maintaining business performance and customer outcomes”.
Key outcomes from the trial include stable productivity levels and improvements in employee engagement, with a 6.7 per cent increase in willingness to go beyond their regular duties.
Participants also reported a 31.4 per cent reduction in work-to-family conflict and significant improvements in resilience and psychological wellbeing, including a 10.4 per cent increase in the ability to switch off from work.
In addition, health outcomes improved, with a 16.3 per cent overall increase in self-reported health and reductions in sleep disturbances and unhealthy eating habits.
The trial also led to more efficient work practices, reducing time spent on low-value tasks such as unnecessary meetings, and implementing better workflow systems.
Ms Bishop noted that these changes helped teams maintain performance while benefiting from the extra day off.
Medibank says its experiment aims to redefine workplace norms, enhancing flexibility while maintaining high performance.
“Australia is undergoing a health transition and Medibank has an enormous role to play. Our health system needs innovation, and we all need to move faster to respond. The key to this is transforming how we work,” Bishop stated.
The company says it continues to work closely with Macquarie University and Four Day Week Global to select teams that are suited to join the next phase of the experiment.