Hong Kong’s New World Group introduces four and a half day work week for better work-life balance
- New World Group said it was implementing the Summer Fridays pilot programme to ‘help its employees maintain a healthy work-life balance’
- Some 4,000 staff from across the group will initially benefit from the move, which will run until the end of September
Hong Kong conglomerate New World Group has introduced a four and a half day work week for its employees with immediate effect, making it the first major developer to cut working hours without cutting wages.
The group, one of Hong Kong’s largest employers, will also allow its staff to work one day a week from home, according to its “Summer Fridays” pilot programme announced on Monday.
The group said it was implementing the programme to “help its employees maintain a healthy work-life balance and improve their physical and mental health”.
The measures are being introduced at the group’s flagship property arm New World Development, and business units K11 and NWS Corporate Office up to September. A decision on whether to extend the programme will be taken later.
Hongkongers are the third-most dissatisfied workforce in Asia-Pacific, according to a study released by co-working company by The Instant Group last month. Workers in the city spend an average of 41 hours at work every week, the third-highest in the region, and have annual leave of just seven days, the study found. Only 28 per cent of employees based in the city said they were happy at work.
