Annual Mobile Workforce Benchmark Report Expands Beyond Vehicle Programs to Highlight Trends Associated with Remote Work and Mobile Device Programs
BOSTON--(BUSINESS WIRE)--#expensemanagement--Motus, the definitive leader in solutions for businesses with mobile-enabled workforces, today announced its newly-expanded 2020 Mobile Workforce Benchmark Report. For the first time, the report extends beyond vehicle programs to offer insights surrounding expenses associated with remote work and device programs as well. These additions were made to help business leaders identify targets for cost control, increase liquidity and position their organizations for future success.
“Given the impact of COVID-19, business leaders are shifting their focus toward flexibility and resilience, looking to increase cost control and eliminate wasteful spend. In fact, 81% of CFOs are planning to cut budgets before year end,” said Ken Robinson, Market Research Manager at Motus. “We hope our expanded benchmark report serves as a roadmap for business leaders navigating these new challenges who could use some help identifying where to start. Leveraging the right insights to make adjustments to remote work, vehicle and mobile device programs can have a big impact on the bottom line.”
When it comes to remote work, telecommuting is not going away. The report found that 47% of company leaders plan to let employees work fully remote on a permanent basis, while 82% plan to allow remote work at least part of the time. This is a clear advantage to businesses looking to reallocate office real estate funds by instead reimbursing team members for remote work expenses such as broadband internet, dedicated workspace, utilities and more. Companies that embrace remote work will save approximately $5,000 per employee per year, which would have otherwise been spent on dedicated office space.
By understanding the costs associated with vehicle programs, including fixed costs such as insurance premiums, license and registration fees, taxes and depreciation and variable costs like gas, oil, maintenance and tire wear, business leaders can choose the approach that makes the most sense for their organization when it comes to the type of program that has the best value relative to cost. For instance, organizations utilizing Fixed and Variable Rate (FAVR) programs to reimburse their employees who drive for work spend about 27% less than those that have alternative programs.
As for mobile device programs, the two most popular options are bring your own device (BYOD) and company provided device (CPD) programs. Knowing the value of each and their advantages and challenges will help decision makers choose which makes the most sense for the entire company, departments or even specific roles. For example, the average annual spend per company-provided device is $1,063. In the average company-provided device program, 16% of devices are never used. As a result, 55% of organizations choose to instead reimburse their employees for the use of personal devices for business, but reimbursement amounts vary widely, with most amounts ranging between $31-$90 per month. Adequately reimbursing employees and maintaining labor law compliance requires employers to reimburse employees specific to the costs in each worker’s geographic locations.
“At Motus, we understand the tough choices business leaders of today are facing when it comes to employees and business expenses,” said Craig Powell, President and CEO of Motus. “We’re dedicated to ensuring organizations have the context and tools to make the best possible decisions for their unique situation and feel empowered to address their teams’ remote work, vehicle and mobile device needs as they continue to work forward.”
To download the full Motus 2020 Mobile Workforce Benchmark Report, visit https://resources.motus.com/reports/2020-mobile-workforce-benchmark-report.
Motus is the definitive leader in solutions for businesses with mobile-enabled workforces. Motus simplifies reimbursement and management of mileage, mobile devices and remote work with proprietary software that calculates personalized reimbursements for each employee, while improving employee productivity, reducing overall mobility costs and supporting customers’ tax and labor law compliance programs. The company’s unmatched living cost data, refined over more than 80 years and updated in real time, has made Motus the leading provider of mobile workforce management solutions for top Fortune 500 companies. 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.
fama PR for Motus