Flexible working could add billions to UK economy -- Report

A report has found that flexible working schemes could cut 533m hours a year in commuting time, saving British employees an annual £3.8bn, which rises to £7.1bn when the full commuter value of time is taken into account

by the commentator on 9 December 2014 09:45

Flexible_working

British businesses could help deliver an extra £11.5 billion annually to the UK economy by embracing flexible working policies, according to a new report from the Centre for Economic and Business Research (Cebr) and IT provider Citrix.

The research found that seven in 10 people who are currently unemployed because they are retired, disabled, a carer or a stay-at-home parent said they would be inclined to start working if they could do so flexibly, such as working from home or clocking in outside of usual office hours.

This workforce reshuffle could add £78.5bn to the economy, adding 4.7pc to GDP.

Jacqueline de Rojas, VP at Citrix said, “Over recent years many organisations have become firm advocates of the benefits of flexible working and this study verifies the impact such a culture can bring to the wider UK economy.

“Technology now enables us to work from anywhere, at any time. It is time to move on from judging workers on how long they spend at their desks to evaluating them on the work they actually deliver.

"By realising that employees do not have to be in the office from nine to five, employers will reap the benefits of an even more productive, contented workforce – and as illustrated here, reaching a new, untapped pool of talent in the process.”

The report found that flexible working schemes could cut 533m hours a year in commuting time, saving British employees an annual £3.8bn, which rises to £7.1bn when the full commuter value of time is taken into account.

The news comes following George’s Osborne’s Autumn Statement announcement where he pledged an extra £40million funding for small businesses to adopt high speed broadband which would be made available in cities such as Manchester, York and Derby.

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