Billionaire's brainwave would see employees work longer hours and fewer days for more years – but would they gain?

When the world's second richest person has a brainwave he believes could make everyone better off, the world listens. Earlier this week Carlos Slim, a Mexican telecoms billionaire worth $72bn (£42bn), called for a global three-day working week. The upside is twice as much leisure time; the downside is longer days and workers carrying on into their 70s.

It is a work-hard, play-hard ethic that many of the world's billionaires might subscribe to, but it would be a huge change for most workers and their employers.

Yet there are shifts going on in the UK labour market that show Slim might be on to something – such as more flexible working and more part-timers.

Unions might be wary, but technology, increases in life expectancy, and cost pressures from commuting and soaring house prices are all encouraging a more flexible approach to work.

Mexican telecoms billionaire Carlos Slim has proposed working a three-day week of longer hours and then retiring later. Photograph: David Livingston/Getty Images

We asked experts to tell us whether Slim's vision for a three-day working week could work – and what its impact would be.

David Kern

Chief economist, BCC



It's a very interesting idea. In many professions it would be possible – in creative businesses, among consultants and accountants for example. But it could be damaging in those areas where you have a lot of people working with the public, for example local authorities and the civil service. Some workers would be happier and more productive, but for others, working 11 hours a day would not appeal.

A working week of 33 hours would be a major decline in the number of hours worked, creating a big hole, and I don't think productivity would increase enough to compensate. It's too extreme to jump from the current situation to a three-day working week. It is worth exploring how people's working time might be reorganised, but small businesses would find it very difficult to organise themselves in such a way.

Sir Ian Cheshire

Chief executive, Kingfisher

The idea of a three-day week is in principle interesting as part of a wider trend in the workplace to much more flexible patterns of working to suit lifestyles, older workers, multiple job holders and career re-entry.

Companies should look at this as a way of tapping into talent pools that they can't attract with old-style five-day weeks, and technology has facilitated this massively.

The only issue for businesses like ours will be maintaining teamwork and consistent customer service when teams are not always together, but leadership businesses that adapt to this new reality will get the best talent.

Paul Sellers

Policy officer, TUC

It chimes with what people want in the UK – not necessarily a three-day week but more flexibility in where and when they work. While there are many people underemployed, some people are overemployed and would prefer to work fewer hours.

For us, the big question is what do people want, and the idea that we'd all go to a three-day week is perhaps not what most people would want. Working anything more than 12 hours a day on a regular basis is getting into unhealthy territory. For some people it would mean moving to a shift pattern which could have a social impact, cutting people off from their circle, including family.

Mike Emmott

Chartered Institute of Personnel and Development

Carlos Slim is right that people should carry on working into their 70s. It can be a positive development for many people, especially if they are interested in their work and want to maintain their work-related social life.

Long days are not necessarily bad. It depends on the scheduling and how people work, like when they take breaks and the support they receive. There are already lots of people working five days [worth of hours] in only four [days]. It saves travelling every day.

There is the risk that people will work three long days but still monitor their emails and smartphones on the other days, stretching their working week.

Philip Booth

Institute of Economic Affairs

Work patterns are incredibly varied compared with 30 years ago. Ultimately, such things are an outcome of the diverse and subjective preferences of employees and of the benefits to employers of different approaches to organising work. If employees would prefer to work 12 hours a day for three days rather than seven hours for five days, employers would offer that option. If it doesn't affect productivity they would get better employees for a given level of wages.

But it is not clear why employees should want their leisure in bigger chunks. It sounds like a childcare nightmare. Many of the 4.5 million self-employed can already decide how to organise their time. For the rest, let's leave it to employers and employees to sort it out.

John Philpott

thejobseconomist.org

Carlos Slim obviously thinks a slim working week suits his businesses, but not everyone will agree. Lots of people are already working overtime for free, and this could make that situation worse.

If an employee can reorder their work and cram their productivity into three days then it would be fine, but if they can't their wages would go down and they would be effectively paying for the extra leisure time.

It could suit a professional or a researcher who can get their job done over 12 hours without additional pressures, but in blue-collar jobs extending the day may not be feasible. And a worker who deals with customers all day is going to be exhausted by the end of their shift.