“The world’s second richest man thinks you should work only 3 days a week.” This was the headline of an article in Time magazine. Mexican billionaire Carlos Slim thinks that a three day work week would make us all much more efficient and happy.
It seems strange to be so radical in the work place but maybe it’s time that we did change the norm. The working life has changed dramatically over the years; we are now working more efficiently, synergistically, and just plain harder than ever before. With the power of the Internet and digital communication we can now do a task immediately that 50 years ago would have taken two or three months. Yet we still work a 9-5, 5-day week just like they did way back when.
I’m not sure if a three-day week is really the answer. It seems a bit absurd to me. The fact remains however that we should be looking at how we can use our time and our current assets to improve upon our working lives and businesses. If you were to take a good hard look at even your daily routine, I would bet you could find a way to streamline it. Wouldn’t it be wonderful to get out the door faster or back home quicker?
We see it everyday in our business. We find that insurance agency staff tends to work below the national average when it comes to working hours. When looking for ways to improve an agency, just having your core staff work a few extra hours every week can really raise productivity. We often suggest increasing the work week from 35 hours to 37.5. Most other industries work a 40 work week and most employees exceed that amount of time. However, we are always met with resistance when we make this recommendation. Why is the insurance brokerage industry unique? In this respect, we do not believe that it is different.
To do well in the world of business you have to work hard. Putting in the extra hours can make a huge difference to your business and your staff’s working abilities. Mr. Slim’s three day work week may sound nice, but if you read the small print, he includes 11 hour shifts and a retirement age of 75. Ultimately you are the one to decide what’s best for your business, but we will always tell you to go that extra mile. Increasing the hours in your work week is no small feat but it can have a significant impact on productivity and profitability of your business or insurance agency. The key is how the change is communicated and implemented.
