UK Bank Adopts Four-Day Work Week While Maintaining Salary: Notable Developments in the Global Workplace
In the wake of the pandemic, women have increasingly turned to gig work for flexibility, driven by the need to balance work with family and other responsibilities. This trend has accelerated young women’s participation in temporary and gig jobs, particularly in lower-skilled service sectors.
According to Elizabeth Jarvis-Shean, DoorDash's vice president of communications and policy, more women than men are joining DoorDash to make up for lost income and cover expenses. This shift is evident across OECD countries, where temporary work among women under 25 rose sharply between 1990 and 2021—by about 30%, more than doubling the rate for all workers [1].
Gig work offers flexibility, but it often comes with lower job quality. Limited skill development opportunities, job insecurity, and reduced job satisfaction are common drawbacks [1][3][4]. Studies reveal a complex dynamic: women with permanent contracts sometimes reduce work intensity due to family obligations, reinforcing the appeal of flexible gig work even if it lacks stability [1].
The pandemic further pushed many to start freelancing primarily for financial stability. However, over half of global gig workers faced job losses or reduced hours during COVID-19, highlighting insecurity in gig roles [3]. Despite this, the gig economy continues to expand rapidly worldwide, with projections anticipating global valuation to exceed $2 trillion by 2033 [3].
In the U.S., about 70 million freelancers and gig workers exist as of 2023, with women prominently opting for independent contracting because it allows them control over working hours and conditions [4]. However, despite rising earnings among full-time wage workers, women still earn less than men overall, underscoring persistent pay gaps that also affect gig work participants [2].
Cosmetics retailer Lush is quitting social media, raising questions about the impact of digital detachment on societal trends. If the gig economy is to offer protections and job quality that workers rightfully expect, all stakeholders must embrace certain responsibilities to address the challenges of flexibility and job quality.
A case in point is Atom Bank, a UK bank, which has introduced a four-day work week without reducing employee pay. The CEO of Atom Bank believes the five-day work week is no longer suitable for 21st century businesses. Meanwhile, Apple is rumored to be entering the self-driving car industry, potentially creating real jobs while meeting consumer needs efficiently.
In conclusion, while gig work offers critical flexibility for women during and post-pandemic, it often comes at the cost of lower job quality and insecure employment conditions. To bridge this gap, a New Social Contract is needed to meet workers' expectations for protections and job quality in the gig economy.
[1] The Gig Economy and Women’s Employment [2] Women and the Gig Economy [3] The Rise of the Gig Economy: A Global Perspective [4] The State of Independent Work: United States
- The increasing participation of women in the gig economy, such as DoorDash, is driven by the need for financial stability, underscoring the importance of workplace wellness and health-and-wellness when considering the long-term impacts on these workers.
- In the growth of the gig economy, businesses and finance sectors play significant roles, with a New Social Contract necessary to address job quality concerns and ensure that this expansion benefits all workers, including women, on an equitable basis.
