Survey Finds Three out of Five Business Travelers Had Problems Paying a Personal Bill Due to Expense Reimbursement Delays by Employers
TriNet Survey Finds Bad Expense Reporting Processes Make 73 Percent of Business Travelers "Feel Like a Bank" for Their Companies
(firmenpresse) - SAN LEANDRO, CA -- (Marketwired) -- 06/30/15 -- A new survey released today by (NYSE: TNET) shows business expense reporting can be more than just an irritating time drain -- it can hurt employees' personal finances, reduce professional opportunities and even make employees more likely to look for a new job.
The TriNet Expense study -- which was conducted by Wakefield Research throughout May and June 2015 -- surveyed 1,000 U.S. business travelers ages 23 and over. Results showed that companies' expense reporting processes have caused business travelers to:
Three out of five () have had problems paying a personal bill because they were waiting for an expense reimbursement from their employer. In addition:
The largest business expense employees shouldered themselves before reimbursement averaged -- nearly triple the .(1)
The longest wait time averages five weeks -- exceeding the standard credit card billing cycle of .(2)
More than half () have not participated in one or more professional development opportunities -- such as a training or a conference -- because their employers' expense reimbursement process made it difficult for them to attend.
More than seven out of 10 () would likely look for another job if their employer were constantly late in reimbursing their business expenses.
The survey also found that subpar expense reporting procedures are surprisingly costly for employee morale, millennial workers and company reputation.
Expense reporting can be so odious and complex that business travelers would take extreme measures to avoid the process altogether. Specifically, they would rather:
Pay for expenses themselves: More than half admit to not submitting a business expense for reimbursement to avoid completing an expense report.
Commute an extra hour to work: would rather spend an extra hour commuting to work in the morning than spend an hour filling out expense reports.
Do their taxes: More than half would rather complete their taxes than "fill out hours of expense reports."
From missing out on training opportunities to struggling to pay bills, the survey showed that millennials struggled even more than their older colleagues. For example, millennials are:
more likely than gen Xers or baby boomers to have difficulty paying a personal bill because they were waiting to be reimbursed for business expenses.
more likely than gen Xers or baby boomers to have not submitted a business expense to avoid completing an expense report.
A better approach to expense reports can give business travelers a fresh outlook on their employer:
say they would think more highly of their employer.
say they would be more productive if the expense reporting system was easier to use.
Dan Fritcher, Division Chief Technology Officer, TriNet Cloud
"With U.S. , archaic expense reporting isn't just frustrating managers and annoying employees -- it's lowering morale, hurting productivity and costing businesses time and money. Simple cloud technology solutions can alleviate these concerns."
Millennials are driving the future of work, yet many companies are still in the dark ages when it comes to the basics of expense management. Simple cloud technology solutions can do more than alleviate the burden for employees -- they can be a key factor in retaining great talent and making them more productive."
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For current HR news, visit the TriNet Blog:
The TriNet Expense Report Survey was conducted by Wakefield Research () among 1,000 U.S. business travelers ages 23-plus between May 29 and June 10, 2015, using an email invitation and an online survey. This survey has a margin of error +/- 3.1 percentage points.
TriNet is a leading provider of a comprehensive human resources solution for small to mid-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit .
TriNet, Ambitions Realized and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
(1) Source: U.S. Census Bureau, 2013 American Community Survey
(2) Source:
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Jock Breitwieser
TriNet
(510) 875-7250
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