With Rising Expectations for Flexibility Among Hybrid and Remote Workers, Insights Reveal that Reimbursement is on the Rise for Expenses Such as Internet and Dedicated Workspaces
BOSTON, November 18, 2021--(BUSINESS WIRE)--Motus, the definitive leader in solutions for businesses with anywhere workforces, today released its 2021 WorkAnywhere Benchmark Report. With the pandemic accelerating the implementation of remote work, hybrid office spaces and mixed-use assets, this is the second year the report has taken an expanded view of remote work, device and vehicle programs. Motus gathered these insights to help organizations adopt flexible and cost-effective mobility and work policies that better align with the evolving business landscape.
With elevated demand for talent and growing remote work options solidified by the pandemic, workplace flexibility is now key to employee happiness and retention. The report found that for 75% of hybrid or remote workers, expectations for working flexibly have increased since the start of the pandemic. These expectations include remote work strategies, benefits, flex hours and other work/life support. Furthermore, employees that perceive flexibility from their employer are 86% more productive.
"WorkAnywhere programs are no longer optional in today’s competitive business landscape," said Ken Robinson, market research manager at Motus. "As mandates come and go, companies must be nimble enough to optimize policies and overhead costs. Hybrid approaches to remote work, device and vehicle programs provide companies with the agility they need to reduce overhead costs, while also creating work environments that attract and retain top talent."
In an effort to maximize productivity in remote office environments, organizations have started reimbursing for assets such as broadband internet and dedicated workspaces. Some have opted to pay each employee a stipend to cover remote work expenses. This averaged $122 per month per employee for home office spaces. However, the report found significant geographic cost differences between each employee, with costs ranging between $39 and $217.
"As organizations adopt more permanent remote work reimbursement solutions, CFOs and finance teams looking to control costs should formulate stipends that reflect the specific role of each employee, as well as the nuances associated with local living costs," said Robinson. "This approach creates a fair and accurate way of reimbursing workers that satisfies each employee’s personal needs while delivering on their desire for flexible policies."
Beyond remote work strategies, the importance of flexibility to today’s employees extends to freedom of choice when selecting the tools and equipment they use for work, such as mobile devices. With cost control remaining a high priority across all device programs, bring-your-own-device (BYOD) programs have become a proven option in the wake of the rapid shift to decentralized work. This is especially true when paired with mobile device management solutions to mitigate security risks. Compared to company-provided-device (CPD) programs, which range from $48 - $60 per month per employee, the average cost for BYOD is $44 per month per employee. However, the report notes that both programs have advantages and challenges. Knowing the value of each program will help decision makers choose which makes the most sense for the entire company, or if a hybrid approach is the best fit.
Vehicle programs offer another way to provide flexibility while containing costs. Many employees utilize their car for both business and personal use. Properly administered vehicle programs enable them to choose vehicles that match their lifestyle while satisfying work requirements. Driving costs like insurance and fuel vary from city to city. A Fixed and Variable Rate (FAVR) program, in which employees are reimbursed for their individual fixed and variable driving costs, provides employees with choice while being compensated fairly and accurately based on location-specific driving costs.
To download the full Motus 2021 WorkAnywhere Benchmark Report, visit: https://resources.motus.com/reports/2021-workanywhere-benchmark-report.
Motus is the definitive expert in anywhere workforce solutions. Its platform and proprietary software simplify the reimbursement and management of vehicle, device, work and living costs through personalized calculations. Powered by an unmatched pool of data, refined over more than 80 years, and updated in real time, Motus is the platform of choice for top Fortune 500 companies and organizations committed to workplace agility. Motus automotive data, captured and analyzed across the world’s largest retained pool of drivers, also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses. For more information please visit www.motus.com or connect with us on Twitter, Facebook, Instagram or LinkedIn.
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