Affluent households are on board with a four-hour work week, with women especially keen on the idea, Millionaire Corner research finds
When the world’s richest man floats a trial balloon for a three-hour work week, people listen.
Mexican telecom tycoon Carlos Slim told CNNMoney this week, “You should have more time for you during all of your life, not when you’re 65 and retired. Slim proposes an 11-hour working day as well as raising the retirement age to 75
Slim, 74, is worth $83 billion and currently tops Forbes’ rankings of the world’s richest individuals. Slim said he is “sure” the three-day work week will become a reality, but he cannot say when. But he does believe that people deserve more time for family, entertainment and to train for better jobs, he told CNNMoney.
Affluent households surveyed last summer by Spectrem’s Millionaire Corner are already on board with the notion of a four-day work week. Seven-in-ten respondents considered it a valid idea. Women, especially, are keen on the idea (82 percent vs. 62 percent of men), as were respondents under the age of 40 (84 percent vs three-fourths of those between 41-50 and 51-60, and 62 percent of those 61 and up.
How would a four-day work week work out? The preference among Affluent households surveyed was for four ten-hour days (76 percent) vs. four eight hour days. Women are more amenable to four eight hour day shifts (31 vs. 17 percent of men), while men are more enthusiastic about four 10 hour work days (83 percent vs. 69 percent of women). Business owners (78 percent) and corporate executives (88 percent) are also significantly more in favor of a four ten hour day work week.
The adoption of a four ten hour day work week gains acceptance with age. Fifty-eight percent of Affluent respondents under 40 prefer this scenario compared with 68 percent of those 41-50, 80 percent of those 51-60 and 82 percent of those 61 and up.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.