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Billions could be added to UK economy with flexible working

New research has found that billions could be added to the UK economy if British businesses offer more flexible working measures, according to workplacelaw.net.

The ‘Flex Factor’ report, which was carried out by Vodafone found that savings of up to £8.1 billion could be made by firms in the UK if they offered their staff the option of working flexibly. This would equate to 0.5 per cent of national gross domestic product (GDP).

The study also found that two-thirds of workers who have worked flexibly before said it enhanced their job satisfaction. Employees questioned also estimated that they would gain an average of five productive hours per week by cutting out things like commuting times. This would work out as a saving of £4,200 per employee per year.

Working from home is also becoming easier than ever, thanks to today’s technology, such as the advancement of smartphones, tablets and external video conference facilities.

Talking about the data, Jeroen Hoencamp, enterprise director of Vodafone UK, told wsandb.co.uk: “The traditional workplace is dead and British business needs to adopt a new mind-set.

“Flexible working isn’t just working from home and these findings reveal that, with an optimised approach, businesses can overcome any downsides and greatly increase efficiency and productivity, as well as boost their bottom line.”