The three day work week

The three day work week

The three day work week One of the world's richest men is proposing a new work structure that would have people work longer, but take more time off throughout their lives.
 
According to Mexican telecommunications magnate Carlos Slim, the world needs a "radical change" in the way we approach our working lives.
 
"This means that people do not retire at 50 or 60 years old," Slim said at a business conference in Uruguay. "People will have to work longer, to 70 or 75 years old, and only work three days a week." 
 
The concept of retirement comes from the Industrial Revolution, when life expectancy was less than 75 years. Now, people in the developed world regularly live to 86, 90 or beyond and Slim would like to see working life adjust to recognize the change. While many countries are delaying the retirement age to 67, he would like to see the changes go further.
 
Slim’s company Telemaz is also putting its money where his mouth is. The company recently offered long-tenured employees the option to work well past the traditional retirement age, but on a reduced workload of four days a week.
 
 
6 Comments
  • Joanne 2014-07-28 11:47:43 AM
    3 day week. It would be great if employers did look at offering this in the near future. Individuals after the age of 65+ get a few days off to revitalize. Employers do not suffer the brain drain.
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  • Sarah Gayer 2014-07-28 12:07:57 PM
    I was interviewed last week by GlobalTVNews on this topic. Carlos Slim is referring to the older worker and offering them a shorter workweek to keep them in the workforce longer. The State of Utah implemented a 4 day workweek for its public employees and in 2011 went back to the 5 day workweek. The Productivity improvements and savings they had anticipated never happened and their customers were not very happy. Can it work, yes but not in all industries and not for all kinds of jobs...it sounds nice but I it reality right now???
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  • Asha 2014-07-28 12:34:31 PM
    I think this is a brilliant idea and would phase out the long-tenure employees while training the
    new ones to take the reign. It would solve the brain drain of the older workers and also help with the retirement funds as well as work/life balance for seniors.
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