SJD Accountancy

Flexible working could add billions to the UK economy

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UK employers and workers could very much benefit from enhanced flexible working, reveals a new report.

The latest research, carried out by Vodafone UK and RSA, revealed that the increased use of flexible working arrangements could in fact result in UK employers enjoying huge productivity gains and cost savings up to £8.1 billion.

The Flex Factor report, which surveyed 2,828 employees and employers across the country, found that employees estimate they could gain on average five productive hours per week (for instance from commuting) through better ways of working – this equates to around £4,200 per employee per year.

The report reveals that better ways of working are a key driver of productivity, performance and organisational innovation, as well as employee satisfaction and wellbeing.

Of those with experience in flexible working, 64% said that it has enhanced their job satisfaction.

Jeroen Hoencamp, Vodafone UK enterprise director, said, “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.

“We want to see organisations and their employees work well and live well. In the global race for growth, organisations should embrace better ways of working consciously as a strategy for success as opposed to ignoring them. Companies can see real, tangible benefits by taking this approach, as this research demonstrates.”

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