Company cultures are definitely changing in businesses around the world. Whether this is a result of social trends or simply a recognition that best practices in business are moving with the demands of the general and working population, it is also resulting in a transition that can provide exponentially higher returns.
Interestingly, much of this change is towards the humanization of business, although technology also plays a large part in allowing for this perspective shift. The ability to initiate contact and interactions in a very personal manner over digital channels has led to corporations being viewed as the sum of all employees, instead of just an inorganic entity.
For business owners, the observations have been varied and can provide a range of rationale. In humanizing the workplace and focusing on people as resources, many companies have been able to cut employee expenses simply through lack of need for these funds, as workplace cultures that are conducive to wellness also see higher productivity.
From another angle, employee expense in a workplace that provides greater freedom and stronger empowerment for individuals can also result in a lack of clarity for parameters of professional conduct. The trade-off is that while owners can see better efficiency from these changes, it may also require a closer monitoring of individual practices to define the bounds of employee expenses versus personal ones.
Managing expense reports is not just about considering the numbers, but also what those numbers represent. Spending on resources that are necessary for operational function are valid, but proper decision making and weighing the pros and cons on specific resources is also a necessary step before making the investment.
For this reason, managing employee expenses and reports can be greatly facilitated by real time access to transaction information. This provides for the stronger clarity that can lead to greater empowerment of the staff, without the concern that unnecessary costs are being bled out.