Increased use of flexible working allowances could add £11.5bn to UK GDP and improve the work-life balance of individuals around the country, according to research.
A report by the Centre for Economics and Business Research (Cebr), and commissioned by technology specialist Citrix, suggests that an extension in the use of remote working technology could provide significant benefits to employers and employees.
"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," said Jacqueline de Rojas, vice president at Citrix.
The research suggests an improved flexible working culture has the potential to get economically inactive individuals back to work, boosting GDP by up to 4.7 per cent equal to £78.5bn.
The increased use of flexible working, enabled by technology, could save UK workers £7.1bn annually in reduced commuting costs and more than half a billion in hours spent travelling.
The research also revealed there is a high demand from employees to work flexibly and that 94 per cent of UK knowledge workers would opt to work from home on average two days per working week.
