'People are happier': Australian company to expand its four-day working week

The four-day working week could be the way of the future as one Australian company expands its world-leading trial to 500 employees.

Medibank is offering “100 per cent of the pay for 80 per cent of the time for 100 per cent of the output”, according to chief customer officer Milosh Milisavljevic.

“People are happier, healthier and more productive, which is great,” Milisavljevic said.

Trial participant Nathan Crothers and his team are some of the 250 employees involved in the initial experiment.

“When you walk in on a Monday, you actually feel really refreshed, really engaged and set up for a really successful week,” Crothers said.

Across the six-month trial the company found overall health improved by 16 per cent, work life balance improved by more than than 30 per cent, and sleep improved by 30 per cent.

Employees came up with ways to improve productivity, including a reduction in meetings.

Macquarie University Business School Professor Rebecca Mitchell said other companies could follow suit.

“They came up with all these really cool ideas on how they could work more efficiently and more effectively,” Mitchell said.

“If Medibank in its complexity can do this then surely all organisations can try and do this.”