Greece introduced a six-day work week for some on July 1 in an attempt to tackle the so-called "ticking economic time bomb," a mix of skilled labor shortages and a shrinking population.

While some Canadian companies are considering offering a four-day work week for employees, experts are closely watching Greece's move and suggest it could happen in Canada.

Mark Colgate, associate dean of the Gustavson School of Business at the University of Victoria, said, "It could be a good idea."

The new legislation by the Greek government is partly a response to the debt crisis of 2009, which led to hundreds of thousands of people leaving the country. But Canada is facing many of the same issues, according to Colgate.

"Every country is facing a productivity issue. I think Greece and Canada are at the top of the list of countries facing this problem more than others. How to respond is a critical issue. Greece has decided this is the path it will take," he said. "We will do it."

How does it work?

The new legislation currently in effect gives workers the option to work on the sixth day of their work week or to work an additional two hours each day. It only applies to employees who work in private businesses operating 24 hours a day.

Greeks who choose this will receive a 40 percent increase on their usual pay for the extra hours worked.

Colgate said the biggest potential issue is worker exploitation, if the optional extra hours become just an expectation. If a worker doesn’t want to work 48 hours, the employer might say, "You have to, or I won’t hire you; I will hire someone else who is willing."

Could it happen in Canada?

The short answer from Colgate - not any time soon.

"But we will have to come up with creative solutions, and this is Greece's creative solution. And while some people resist, if they don't, they will become less competitive as a nation, and that is exactly the problem we are facing in Canada as well."

Recently, Bank of Canada Governor Tiff Macklem echoed Colgate's concerns.

Macklem said last month, "Our weakness is productivity. We have been very good at growing our economy by adding workers. We have been much less successful at increasing output per worker."

"Our message is if you want more non-inflationary growth, we will need a coordinated discussion between businesses, governments, academics, and civil society, about how to achieve productivity growth in Canada."