Kevin O’Leary Critiques the Four-Day Work Week Trend
Canadian entrepreneur Kevin O’Leary has come out strongly against the rising trend of the four-day work week, dismissing it as the "stupidest idea" he’s encountered. This critique comes as many companies globally, including Australia’s Medibank and Bunnings, experiment with this working model.
O’Leary, a prominent figure known for his role on Shark Tank and with a net worth of approximately $US400 million, expressed his views during a recent Fox News segment. His remarks were prompted by discussions surrounding France’s decision to trial four-day work weeks for parents sharing custody of children, a concept that has gained traction since the country established a 35-hour work week in 2000.
He stated, “That’s the stupidest idea I have ever heard. I think we should let the French go to a two-day work week and then kick their ass internationally.” O’Leary’s comments reflect a broader scepticism about the viability of significantly reduced working hours.
As of now, it is estimated that about 10,000 workers in France are already engaged in four-day work weeks. O’Leary has been a vocal opponent of similar regulations, such as Australia’s "right to disconnect" laws, asserting that the conventional work week no longer exists in today’s digital and post-pandemic economy.
He elaborated, “I look at my staff; 40 per cent of them work remotely, all around the world. It’s project-based. Can you get it done by the 15th of June? Yes, I can. I don’t care when you do it—four-day, three-day, five-day.”
Interestingly, O’Leary’s remarks have sparked diverse opinions online, with some agreeing that productivity should take precedence over the specific number of hours worked. One user noted, “It’s not about days or weeks anymore. It’s about productivity in whatever period of time the business decides.” Others, however, support the four-day week, citing personal experiences that highlight its benefits. One commenter mentioned, “I have a four-day work week. I can’t express the difference in how much better my work week is with an extra day to decompress.”
In Australia, the four-day work week continues to gather momentum, with major companies like Medibank expanding their trials. Following a successful pilot, Medibank recently announced it would be increasing its trial size to 500 employees by adding another 250 participants in October. Kylie Bishop, head of people and sustainability at Medibank, stated that the initiative has helped eliminate unnecessary meetings and better manage workloads. “We’ve seen significant and sustained improvements in employee engagement, job satisfaction, and the health and well-being of participants, while maintaining business performance and customer outcomes,” she said.
Data supports the growing desire for shorter work weeks in Australia; a Robert Half survey conducted last year revealed that 65 per cent of 1,000 employees polled preferred a four-day work week with full salary retention. Additionally, a Senate Inquiry into Work and Care in 2023 recommended that the government explore a trial of the four-day work week.
One approach being adopted in some arrangements is the 100:80:100 model, which allows employees to maintain their full salaries while working 80 per cent of their usual hours, provided they deliver 100 per cent productivity.
In summary, as the debate around the four-day work week continues, opinions remain divided. While some, like O’Leary, see the shorter work model as impractical, others highlight its advantages, advocating for a shift towards a more flexible working environment that prioritises productivity over traditional work time frames.
