Advice firm invests $1.9m in 9-day fortnight

Invest Blue has announced the adoption of a nine-day fortnight pilot as part of an objective to foster employee wellbeing, productivity, and growth, according to the firm.

Commenting on the shift in working conditions, Invest Blue COO Lexi Glover said that “business growth should never come at the cost of employee wellbeing”.

“We have the right technology and infrastructure to support our people but most importantly we have the right culture.”

According to Ms Grover, 194 employees spread across Australia put the firm in a strong position to offer the renewed working-fortnight while ensuring no disruption for clients and minimal impact on day-to-day operations.

“Geographically, our people are spread out in many different locations so trust and transparency are critical. It is not uncommon to have teams that work together operating from different offices or from home.

“We have established operational rhythms, data analytics tools, and clear communications including daily team huddles, which can be done physically or virtually,” she said. 

The COO admitted that there is still plenty of work to do for employees, and compressing the working week may seem like a counterintuitive solution. However, she said research has shown that this approach can lift productivity while increasing employee satisfaction.

Expounding on this, Invest Blue head of people and culture Kasey Patterson said the central philosophy to this decision was: “If we look after our people, they will look after our clients”.

“Our mission is to have a recognisable presence across the country, which depends on our ability to attract, develop, and retain advice professionals who are able to consistently deliver excellent advice and service to our clients,” she said.

Ms Patterson added that initiatives like the nine-day fortnight demonstrate the firm’s commitment to employee health and wellbeing, which she said is a critical element of its recruitment strategy. 

National accounting firm Grant Thornton also earlier announced nine-day working fortnight in the form of a six-month trial commencing 1 March 2023.

At the time of the announcement, Grant Thornton CEO Greg Keith believed that the current working system was “broken” in light of high volumes of reported increases in stress and health issues from the professional services workforce. 

Similarly to Invest Blue, the accounting firm expected the reviewed nine-day fortnight to improve wellbeing outcomes, in addition to attracting and retaining talent.