Voluntary Reduced Worktime definition
Voluntary reduced worktime, also known as V-time, refers to arrangements between employers and staff that allow employees to work fewer hours in exchange for reduced salary and benefits. These are often set for a certain amount of time, often corresponding to changes in the employee’s personal circumstances, and then revert back to standard contractual hours.
Voluntary reduced worktime differs from flexible working in that V-time arrangements acknowledge that less work will be done as a result, recognised by a salary reduction. In flexible working arrangements, there is an understanding that the same amount of work will be undertaken, but to different timeframes.