APRIL 2019HR TECH OUTLOOK8In My OpinionWhen it comes to expenses reconciliation, SME employers need to understand the potential consequences of festive frivolity.December can be a month filled with more business expenses than most. Weeks of travelling to end-of-year meetings, taking clients out for lunch and attending Christmas parties makes the festive period a financially demanding time, which can quickly take its toll on employee expense bills. It is employees, however, who are regularly bearing the brunt of these increased expenses, whilst awaiting a tidal wave of reconciliation in January and February. But do employers realise the potential impact the far too common "pay and reclaim" process can have on their staff members' pockets, and in turn, morale? Paying the price for ineffective expense policies Our recent research at Allstar Business Solutions has highlighted that more than half (57 percent) of employees said they faced financial difficulties as a result of regularly being out of pocket in 2018. Those that travel as part of their job also said they would like their employer to take more responsibility for paying expenses before or during business road trips. Managing Expenses when Ringing in the New YearThore Vestergaard, SVP and MD, Commercial Cards, FLEETCORByThore Vestergaard
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