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(Bloomberg) – By 2030, people will probably work only 15 hours a week.
It seems clear now that the famous prediction, made by John Maynard Keynes in 1930, is unlikely to come true. But the cult of excessive work may also have had its day.
In Scandinavia, where people are currently enjoying uninterrupted, legally protected and protected summer holidays, many of the largest companies in the region say they are prepared to protect their employees from excessive employment. Companies contacted by Bloomberg warned of the danger to productivity if staff were not allowed to leave the group and stressed how important it was for management teams to set the tone by taking a long break.
Skanska AB, one of Sweden's largest construction companies, says staff must be "disconnected from work" during the summer holidays. There is a "close connection" between well-being and performance, said spokesman Jacob Birkeland. And this "consists mainly in being able to relax away from work".
In SEB AB, one of the largest Nordic banks and one of the leading shopping centers of the Swedish krona, managers should play a "key role" in supporting holiday culture by "giving the good example "taking the days allocated, said spokeswoman Veronika Osmund said.
Set the minimum
Sweden, Scandinavia's largest economy, requires companies to leave at least five weeks of paid leave a year for their employees, although many industries are governed by collective agreements, which often result in more free time. Similar arrangements exist in the rest of the region. The average European annual holiday allowance is four weeks.
In the United States, companies that offer paid vacations tend to follow a progressive format in which new employees earn days off if they work longer. A report published in 2018 by the Bureau of Labor Statistics showed that private sector workers in the United States had an average of 15 days of paid vacation a year, after half a decade of service.
Scandinavian lawmakers have decided that 15 days a year is not enough to keep the employed workforce healthy and productive. This attitude prevails in all spheres of business and all large companies contacted by Bloomberg have expressed the idea that overwork is detrimental to a healthy business environment. This is supported by studies showing that employees who feel overworked are less productive.
At Sandvik AB, an engineering group, management does not want people to take less than four weeks of paid time off a year. "We believe that it is important to facilitate work-life balance for all employees, including management," said spokesman Martin Blomgren.
Six weeks
Executives and others working for GN Store Nord A / S, a Danish hearing aid manufacturer whose stock has tripled in the last three years, benefit from six weeks of leave per year and are encouraged to take the time it takes, according to their spokesperson. Steen Frentz Laursen.
SSAB AB, which manufactures steel plates, says that in addition to decent breaks, it is also important to make sure that staff do not work too much. Even taking a long vacation "can not compensate for an unreasonably high workload for the rest of the year," spokeswoman Mia Widell said.
Most of the top executives that Bloomberg tried to contact for comments were not available, due to the summer break. And in most cases, companies have insisted that their managers not be disturbed during their holidays. Veli-Matti Mattila, chief executive of Finnish telecommunications company Elisa Oyj, is just one of the leaders who did not answer the questions in the middle of her four-week leave.
"We think that executives should also take a break," said Elisa spokeswoman, Katiye Vuorela. "And have a vacation to relax."
Or, as Keynes says in his 1930 essay Economic Opportunities for our Grandchildren: "We have been trained too long to strive and not enjoy it."
– With the help of Christian Wienberg and Kati Pohjanpalo.
To contact the reporters on this story: Hanna Hoikkala in Stockholm at [email protected], Niclas Rolander in Stockholm at [email protected], Leo Laikola in Helsinki at [email protected]
To contact the makers of this story: Tasneem Hanfi Brögger at [email protected], Niklas Magnusson at [email protected]
For more articles like this, go to bloomberg.com
© 2019 Bloomberg L.P.
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