The employee reimbursement policy is a procedure adopted by companies to control expenses and measure refund expenses with employees.
In this article, we will discuss the importance of the refund policy in companies that bring benefits in the organization of the cash flow and the reimbursement of employees.
Learn the steps to plan a reimbursement policy for employees at your company and measure daily expenses.
The refund policy in the company’s routine
The refund policy of a company is the procedure adopted regarding the refund of amounts spent by the employee in the face of work-related activities. It is as if the company is returning the amount that the employee spent out of his own pocket.
However, if there is no organization and planning for an efficient reimbursement policy, the employee and the company may lose out.
When the HR is strategic, the company correctly outlines a refund policy and manages to bring benefits not only for itself, but also for its employees.
The reimbursement policy for the company can be a tool for controlling expenses, thus being able to reduce and measure expenses.
On the employee’s side, he will be able, through the employee refund policy, to know and have the guarantee that he will get back what he has spent.
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Check out the best tips for planning and creating the perfect refund policy now.
Walkthrough: How to Create a Refund Policy for Employees
1) Assess the size of your company
Creating a reimbursement policy for employees is important, as long as this procedure makes sense for your reality.
Why create a refund policy if employees do not travel, do not even have any expenses with the company?
The first step in creating this type of policy is to assess the reality of the company and the need to adopt a process like this.
2) Pay attention to the law
Be aware of the employee’s rights in relation to CLT law so that your company does not suffer from labor lawsuits in the future.
It is necessary for HR professionals to know the rights of the company and the employee in the face of a refund policy.
Spending on the company, such as travel accommodation, parking and food, for example, are some cases that need reimbursement by the company.
3) Explain the policy to employees
A common mistake in the reality of companies in relation to the employee reimbursement policy is that of not communicate employees about how the rules work.
O HR sector you need to present how this process works, describing each point in detail.
The employee, in order to comply with the policy, needs to know the limit amount to be spent, how long it will be reimbursed and the form of payment.
In addition, it is necessary to place in the flow the requirements regarding the presentation of documents that prove the expenses.
Explain to the employee how the employee refund policy works to avoid future problems, both in terms of reimbursements and in labor claims.
4) Automate processes
The employee reimbursement policy can become a very bureaucratic and manual process in the reality of the company. Manually entering notes, receipts and expenses in thousands of reports can increase the chances of error.
For this reason, many companies automate processes with tools that offer all the necessary support to avoid fraud and errors.
With the use of automation tools, the chances of human error on the part of the company and the employee are reduced.
5) The advance and the refund policy for employees
Many companies still follow a flow of refund policy that deviates a little from the necessary planning of this process. Some still follow the idea of giving money to an employee in advance for spending on an external event.
But imagine the scenario in which you lend R $ 80 to the employee and an expense like Uber and Taxi costs 50 reais more than this amount.
Mandatorily, he will have to take this amount out of his own pocket and if you don’t have a refund policy he will barely know when you should get that amount back.
In fact, this policy of advancing a value is rarely accurate, as it is difficult to measure exactly all expenditures on an external outlet.
With a well-planned reimbursement policy for employees, this problem is solved, since all expenses are measured.
6) Increasing satisfaction
When the employee reimbursement policy has clear rules for the employee regarding external expenses, the chances of any professional dissatisfaction.
The reimbursement policy in companies imposes a feeling of tranquility on the employee.
Moments of embarrassment due to lack of money at certain times, with transportation and food, for example, are avoided. The employee feels secure with a refund policy, because he is sure that all money will be reimbursed.
7) Spending control
The employee reimbursement policy can also offer greater control over spending of the company in relation to corporate travel, etc.
Through this process the company can limit the maximum expenses and make a forecast of what will be spent.
It is also in the control scenario, that the manager can plan expenses, cut expenses, etc., in order to build a good reimbursement policy.
Adopt the refund policy for employees at your company
The reimbursement policy for employees in many companies is considered to be merely bureaucratic and is constantly left out in the planning. In addition, an error in this process can lead to professional dissatisfaction.
Recognizing the refund policy as an important item in the company’s strategic planning can bring numerous benefits, such as cash flow, for example. With spending control routines and expenditure cuts the company can evolve more and more.
In addition to supporting the company’s expense control, the employee refund policy can provide greater security to employees who are at events at all times.
With a well-organized policy, it is possible to offer support to employees in relation to external expenses and future reimbursements.
Knowing when it will be reimbursed does not generate dissatisfaction or leave just in case of lack of money for transportation, food and so on.
Learn more about importance, types and how to organize an organizational culture in our article.
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