You still may not want to be Facebook friends with your boss, but there is good news for workers who are constantly checking Twitter or emailing YouTube videos around the office: A new study has found that using social networking sites during office hours may actually be good for businesses.

According to the British think-tank Demos, encouraging employees to network and build relationships with their colleagues via social networking can be more beneficial than detrimental for a company. The study found that social networks help foster productivity, innovation and a democratic work environment.

"The answer is not to close down staff access to social network platforms, nor is it investing blindly in collaborative platforms," researcher Peter Bradwell told Reuters. "Rather, we argue that we need to understand how, once we accept the implications of social networks, we can manage the new challenges and trade-offs."

While the use of social networking websites like Facebook, MySpace and YouTube may not be work related, Bradwell found that limiting or preventing access to these sites could actually harm a business. "Allowing workers to have more freedom and flexibility might seem counterintuitive, but it appears to create business more capable of maintaining stability," he said.