personal finance

Richard Branson: Why Virgin boss argued in favour of overturning five-day working week


Mr Branson founded Virgin Group in the early Seventies and is now worth approximately £4billion. The business magnate is one of the wealthiest British billionaires through Virgin Media Limited, a telephone service company which has become a household name. It has more than 53 million customers with almost 70,000 employees spread across 53 countries. He also has a charitable endeavour which he works on on the side called Virgin Unite.

However, Mr Branson has long since been an advocate for a flexible working week, and he wants to encourage his employees to lead a balanced life.

The Labour Party recently argued in favour of cutting down the five-day working week, specifically to four days rather than Mr Branson’s call for flexibility. 

The Shadow Chancellor John McDonnell said “watch this space” when asked if his party might back such an idea. Back in November 2018, he reportedly teamed up with some economists to discuss starting an independent inquiry as to whether it was possible to cut the working week.

In 2018 CNBC article, reporter Barbara Booth explained how Mr Branson is “pushing business leaders to embrace the idea of flexible work arrangements” because he thinks “with today’s cutting-edge technology, there is no reason people can’t work less hours and be equally – if not more – effective”.

The article included a quote from Mr Branson himself which said: “Fun is one of the most important – and underrated – ingredient in any successful venture.”

Reportedly, Virgin provides unlimited leave and a work from home alternative. 

In 2015, Mr Branson published an article on Virgin.com stating “flexible working is smart working” and urged people to reconsider the five-day model.

He reportedly pushes for his staff to recharge their batteries more frequently. The entrepreneur claimed: “Through this balance they become happier and more productive.”

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He added: “I have never worked from an office, preferring to combine working hard with spending time with my family.

By embracing modern technologies our staff are able to spend more time away from their desks interacting with a broad range of people, while always being accessible. If standard work hours no longer apply, then why should strict annual leave policies?

“It’s not effective or productive to force them to behave in a conventional way. There are commercial benefits to smart working too, including the potential reduction of real estate costs.”

He did concede that “flexible working may not be for every industry, organisation or person” but “it has been smart for Virgin”.

In 2018, he suggested the idea was taking off and published another article on Virgin’s website claiming “the idea of a five-day working week is fast becoming outdated” as Mr Branson believes “the way we all work is going to change in the coming years”.

However, Labour’s four-day working week was rejected in September by economist Lord Skidelsky following the party’s commissioned review. He suggested a gradual move towards a 35-hour week instead.



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