There will likely only be minimal savings by doing so since there is always heat loss from the cylinder until it matches room temperature. If you leave it off until just before you get back, you still need to replace that lost energy.
The greater the difference between the stored water temperature and the room it is stored in, the faster heat is lost. So energy savings can be had, by turning it off when you don't need it. Turning it off, also saves wear and tear on the heating system, in this case the element and stat. The longer the period that the water is kept hot and unused, the more money is wasted. Over the course of a day, whilst you are out at work, it might be minimal. Over the course of a two week holiday there is much more wasted.