Workers are changing. Here are five things your company should know about what your mobile workers want out of their reimbursements

If there is one thing we have learned over the last year, it’s that if you aren’t evolving, you’re devolving. The business world values flexibility and mobility more and more each day, and with the line between work and personal life becoming more blurred, expectations of workers are increasing too. Technology continues to reshape the way we work, pushing organizations to adapt to the evolving needs of their workforce.

While striving to attract and retain top talent, businesses cannot enable their mobile workers without understanding and addressing their needs. In this article, we will highlight five key aspects that businesses must prioritize, stemming from our recently released Driver Data Report, shedding light on what companies need to consider to effectively meet the expectations of their on-the-go workforce.

1. Personalization and Control

Digital natives have entered the workforce, and they’re here to stay. Following the pandemic, they have a deep desire for personalization and control. Whether that’s remote work options, flexible PTO, or even just choosing what car they drive, these employees hold a strong preference for choice in their work environment. Our Driving Employee Report found that nearly 60% of employees prefer roles that allow them the freedom to choose what car they drive for work.

An employee is more than their life at work. Typically the vehicle they own is suited to that life. Allowing employees this flexibility not only positively impacts retention efforts, but also supports larger recruitment initiatives bringing in a wider range of candidates.

2. Daily Business Mileage Tracking

As we continue living through the ‘living cost crisis’ a recent Harris Poll, found that over 65% of working Americans live paycheck-to-paycheck. This means employees no longer have the time to wait until the next month for their expense reimbursement. Accurate mileage tracking and rapid reimbursement directly impact employees’ financial stability. Our report shares that 68% of employees diligently track their business mileage on a daily basis. Seamless expense submissions and reimbursement has become vital to professional lives.

Additionally, failing to document mileage logs accurately can expose companies to IRS audits. Mileage capture apps that enable employees to accurately report trips and employers to run reports make IRS-compliant mileage easier than ever. There is no reason to risk inaccurate, costly mileage reimbursements, especially in the event of an audit.

3. Mobile Expense Submission

We all spend too much time on our smartphones. People have gotten so used to their convenience and speed that even digital wallets have become the next big thing. Not only wallets but nearly 70% of employees prefer to submit their expenses via their mobile phone.

This further signifies the significant shift towards mobile-centric engagement, especially with, you guessed it, the Gen Z workforce. Businesses must evolve to a mobile-centric management process, upgrading app interfaces to streamline the expense submission process, reduce errors and expedite reimbursement.

4. Transparent Reimbursement Policies

Going hand in hand with daily mileage tracking and an emphasis on control, mobile workers greatly value transparency and clarity in their reimbursement policies. It’s like planning a road trip and wanting to know exactly how long it will take to get there and how much gas you’ll need.

Companies must ensure that reimbursement processes are straightforward, with clear guidelines on eligible expenses and reimbursement rates. And just like how you would appreciate GPS updates on your journey, providing real-time visibility into reimbursement status and timelines can enhance trust and satisfaction among mobile workers, keeping them informed every step of the way. After all, clarity and transparency make for smoother rides, whether on the road or in the workplace.

Flexible Reimbursement Options

Today workplaces come in a variety of options, from a completely remote workforce to hybrid to fully in-office. In this gray area lies the secret to the best benefits offered to employees: flexibility. Employers providing a fleet vehicle pay more to put their driving employees in a vehicle they don’t want. Other vehicle programs may reimburse employees for the business use of their personal vehicles but inaccurately.

With a fixed and variable rate (FAVR) program, employees receive reimbursements for both the fixed and variable costs of vehicle ownership. This allows them the flexibility of life with the vehicle of their choice and guarantees the speed and accuracy of the reimbursement amount they receive. While it may not look like a “conventional” benefit, it positively impacts employers and employees.

Today’s mobile workforce craves agility. They want more control over what they drive and how they submit and track expenses. Companies must evaluate the needs and preferences of not only their customers but also employees. By doing so, they can adapt and innovate in ways that best serve their workforce, fostering an environment of trust, satisfaction, and ultimately, success. After all, by putting people first, businesses can pave the way for an environment where both employees and companies thrive in tandem.

Run your company with Motus

Motus empowers companies with comprehensive visibility and control over their vehicle reimbursements and risks, enhancing employee satisfaction through tax-advantaged reimbursement programs. With a superior service and support team, Motus proactively optimizes each program to deliver IRS-compliant savings. Trusted by companies to help them reach their vehicle reimbursement goals and navigate change management, Motus recognizes the evolving landscape where people’s devices and vehicles are crucial to their jobs. Motus tailors reimbursements for the modern workforce, enabling companies to attract top talent.

By fostering equitable workforce solutions, Motus empowers both employees and companies to thrive in the present and future of work.

Sound like the solution you’re looking for? Book a demo today to see how Motus can help you reach your vehicle reimbursement goals and navigate change management. Also, check out our recent Driving Employee Report that fueled the findings in this piece.