Leading British high-street chain Marks & Spencer is pioneering a four-day week with its new chief executive.
The company announced that it will pay its first female chief executive, Katie Bickerstaffe, a £750,000 ($940,091) salary for working a four-day week.
She was unveiled as its co-chief executive in March alongside Stuart Machin ― who receives £800,000 for a five-day week.
The two new bosses will also be in line for about £5 million each in 2025 if they each hit targets by that year.
Ms Bickerstaffe, who has two children, previously led Dixons Carphone’s UK and Ireland business and was a champion of four-day working weeks in her previous career roles.
This week more than 3,300 workers at 70 UK companies started working a four-day week in the world's biggest trial of the new working pattern.
The pilot will run for six months and is being organised by 4 Day Week Global in partnership with the think tank Autonomy, the 4 Day Week Campaign, and researchers at the universities of Cambridge and Oxford, and Boston College.
A report released on Thursday revealed the number of jobs offering a four-day week has increased over the past year.
Jobs site CV-Library said adverts for four-day week positions have jumped by about 90 per cent, especially for work in sectors such as charities, sales, distribution and catering.
Locations with the biggest increase in four-day week jobs include the South West, Wales, the South East and London, said CV-Library.
“We are seeing a huge increase in the number of four-day week jobs being posted," chief executive of CV-Library Lee Biggins said.
“A year ago, these types of jobs were negligible.
“A lot has changed in both the economy and the job market over the last 12 months and employers are having to seek new ways of attracting new staff, over and above competitive pay and a pension.
“Time will tell if this draws in job seekers, and we’ll be keeping a close eye on application numbers.
“It’s also crucial to see the results of the trials in place and if a four-day working week is viable and sustainable for businesses and not just a short-term solution to attract and retain top talent.”
The UAE has already reduced its working week to 4.5 days, and Belgium was the first country in Europe to offer the option.
