Companies that incorporate flexible working practices, including home-based working, into their operations tend to perform better as a business, according to a new report.

Figures compiled by Dynamic Markets on behalf of telecoms firm Cisco show that high-growth businesses in the UK are twice as likely to have flexible working practices in place than those that are making slower progress.

However, companies of all sizes are currently failing to focus IT spending on enabling home-based and remote working, despite the related productivity and recruitment benefits, the recent research suggests.

Nick Watson, vice president for enterprise business for Cisco in the UK and Ireland, said: "The IT network can provide the platform for new and productive working experiences, but the bottom-line growth is only really guaranteed when executives show leadership and support in their organisation."

The latest figures also show that smaller businesses are lagging behind larger organisations when it comes to enabling staff to work from home.

A report from the Equal Opportunities Commission last month claimed the UK is behind other European countries when it comes to implementing flexible working practices.