Businesses are coming under increasing pressure from young employees to start offering flexible working arrangements.
Modern technology has enabled companies to allow their staff to do their jobs remotely, although some organisations are still sceptical about the benefits of letting people work from home.
According to a new study conducted by PricewaterhouseCoopers (PwC) in conjunction with the London Business School and the University of Southern California, many Millennial workers (those born between 1980 and 1995) would prefer to have the option of working from home than a pay rise.
Indeed, one in five women and 15 per cent of men said they would happily give up some of their salary in exchange for flexible working.
Younger workers generally placed greater importance on work/life balance than their older colleagues, while more Millennials relished the chance of taking on an overseas project.
Gaenor Bagley, head of people at PwC, said this group will make up 50 per cent of the workforce by 2020, so it is important that businesses take their demands and preferences very seriously.
"Millennials want more from their jobs than just financial reward. A strong and supportive team, flexibility and work/life balance are far more likely to keep this generation motivated at work and many would be willing to forgo pay rises and promotions for greater flexibility," she remarked.
"Many companies will have to completely re-think how they attract and reward their workers."
While some organisations may not like to admit it, there is no doubt that flexible/remote working is quickly becoming the norm for many UK citizens.
Firms might think that because an employee is working away from the office they are no longer responsible for their wellbeing, but this is not the case.
The Health and Safety Executive has clear guidelines on how employers should ensure all of their workforce is safe and healthy.
Obviously, most work that is completed at home is going to be low-risk, but it is still important to conduct risk assessments to ensure there are no hazards that may cause an occupational injury or illness.