Kevin O’Leary: I don’t hire workaholics

Over the past few decades, overworking has become pervasive. Being the first one in the office – and the last one to leave – has traditionally been seen as a marker of who is working the hardest.

This so-called presenteeism has not been destroyed by the pandemic and remote working. Instead, now people are showing they are working all hours by replying to emails or Microsoft Teams messages in the middle of the night.

This can cause other employees to feel they cannot disconnect from the work outside of their contracted hours – therefore, many feel they are not just working at home, but living at work.

Of course, having no work-life balance is not good for employees’ mental health, but studies show it is also affecting their physical health, and often shortening their lives.

Research by the World Health Organization and International Labor Organization found that overworking caused one in three work-related illnesses and was the biggest disease risk factor in the workplace.

In fact, working more than 55 hours was associated with a 35% higher risk of stroke and 17% higher risk of dying from heart disease, compared to working up to 40 hours a week.

The tide is turning

Although overworking and presenteeism has often influenced who gets promoted, mindsets are starting to change. The pandemic may have encouraged people to work all hours, but they are not necessarily happy about it and the burnout they experienced.

Now employees want to work for employers that help them find the right balance between their work and personal lives. Employers are also changing their tune on boundaries at work.

While the financial sector has often led the way with overworking – Goldman Sachs, for instance, got in hot water over the working conditions of its junior staff members – entrepreneur and investment firm O’Shares ETFs chairman Kevin O’Leary is clear that he has no interest in hiring those who overwork.

He told CNBC: “If all you do is worry about your job and where you are in the pecking order and just spend 25 hours a day working, you will be a less productive person.

“When I see a workaholic, I don’t want to hire that person.”

Instead, O’Leary wants to recruit those with hobbies, and spend around half of their time not working.

“As someone who wants to be focused on work, what would make you better is to actually spend half of your time not doing that so that you come up with the best ideas,” he told CNBC.

“Really good outcomes in terms of how I’ve ended up in business and as an investor came from ideas I had while I was playing my guitar, or polishing my watch. It lets your mind drift, and it lets you become more productive”.

He concluded: “Great entrepreneurs, great managers, great employees have balance in their life. Those are the people I want to hire.”

Setting boundaries at work

Of course, finding the right balance between your work and personal lives is much easier said than done.

The best way to do it is to set clear boundaries about when you are working, and when you are not. This includes around your finish time – so your working day doesn’t creep into your evening – and also around lunch breaks.

It is, however, hard for individual employees to be strict about their working hours. Therefore, it is important for leaders and managers to lead by example and take lunch breaks, as well as switch off from work in the evenings.

Managers should then make sure their team isn’t overworking – and if they do so, make sure they take the time off in lieu later on.

Ultimately, having employees with a work-life balance, and properly rested, is good their productivity, and therefore the business.