Atom Bank is set to relocate its headquarters from Durham to Newcastle, spearheading a substantial investment in its office space.
The new headquarters will occupy the historic Pattern Shop, a Grade II listed structure in Tyneside, which has roots dating back to the 1800s when Robert Stephenson manufactured steam locomotives for global distribution.
With a workforce of 550 employees, Atom Bank made headlines in November 2021 as the first financial institution to implement a four-day workweek for its staff without any reduction in salary. This initiative has proven to be highly effective, resulting in a remarkable 65% decrease in employee turnover over the past three years, alongside a 9% rise in employee engagement, now at 81%.
Atom Bank’s innovative approach contrasts sharply with many traditional and challenger firms in the financial services industry, which are pushing for more frequent or mandatory office attendance.
Mark Mullen, CEO of Atom Bank, remarked, “Our investment in the iconic Pattern Shop reflects our vision for the future of work. While numerous companies are reverting to past practices and compelling employees to return to physical offices, we are taking the opposite route. We are crafting a social environment designed to inspire collaboration, not simply enforce presence. At Atom, we are fostering a culture of trust, offering flexibility for individuals to work in ways that enhance their happiness and productivity.”