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UK Enhanced Connectivity could boost Productivity

Infrastructure News - Published on Tue, 15 Oct 2019

Image Source: o1 the blue
UK businesses stand to benefit from GBP 34.1 billion in productivity gains if their workforces had better access to connectivity, according to research released by O2 Business. As the only major advanced economy that is expected to record slowing productivity growth this year (according to data published by think-tank, The Conference Board), investment in connectivity could provide a welcome boost to UK productivity levels, following the Bank of England’s recent warning that Brexit has cut output per worker by up to 5%.

In the second major study of its kind in five years, O2’s report – entitled Business without Boundaries: The role of connectivity in business growth – has found that enhanced connectivity could deliver overall time savings of 3.14 hours per week for each employee – or an extra 18 working days a year, representing a significant advantage for workers and British business. Giving people the ability to work where, when and how they want can reduce time commuting to fixed places of work, enabling a more efficient use of working time.

Since O2’s first Smarter Working Britain report in 2014, good progress has been made in the uptake of tools that enable wider adoption of remote working, with Britain’s biggest businesses already benefiting from a productivity boost of up to GBP 10.5 billion as more workers split their time between office locations and working from home. However, if all employers embraced the potential benefits of offering a range of connectivity tools and technology such as video conferencing and real-time collaboration apps the UK economy could see an additional GBP 14.7 billion in productivity gains for SMEs, and a further GBP 19.4 billion for large companies.

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Posted By : TelecomGuru on Tue, 15 Oct 2019
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