‘Workcation’ plans rising: What it means for your company
Due to the rise in remote work, a new trend for employees is the “workcation.” And it may need to be addressed in your company’s T&E policy.
It typically hasn’t been all that uncommon for employees to add a few extra vacation days onto a business trip to decompress and explore a new city.
But with the added work flexibility created by the pandemic, people are considering more long-term getaways without unplugging from the office.
What to watch for with a workcation
Workcations allow employees to combine business with pleasure. Then, they don’t have to take separate trips and risk repeated exposure to COVID.
Since many people can theoretically work from anywhere, employees are opting to travel to destinations across the world. And they’re remaining on the clock.
They’re taking their laptops and devices with them. That way, they can sign to Zoom meetings from Miami or access spreadsheets in France.
This option especially appeals to younger employees. In fact, per data from Kayak, 40% of Gen Z employees plan to take a workcation this year.
Workcations can have immediate implications for your Payroll team since employees may be establishing nexus by working outside of the state or country.
Your A/P team is affected as well. It’s tricky enough to draw lines when employees use their personal time during a normal business trip.
Since the employee is traveling with no intention of taking time off during a workcation, how much of their expenses are reimbursable after the trip? Is the company liable for covering business lunch expenses?
It’s smart to ensure your current T&E policy has provisions for allowed expenses during workcations.
And if there are any reimbursable expenses, have A/P remind employees about what can be included on expense reports.
Free Training & Resources
Further Reading
Businesses are looking for competent number-crunchers. Some are even desperate to find talent. But the next wave of finance professionals i...
Finance leaders monitor workforce conditions because managing workforce risk is essential for controlling labor costs and maintaining produ...
Excel financial formulas allow users to process accounting data quickly and easily. To use a financial formula in Excel, click on the ...
Even the best finance pros — whom leaders love and employees revere — get their share of complainers. You know the ones: The...
Some payroll staffers may assume that complying with IRS regulations is enough to keep their companies out of trouble. That’s not ...
Inflation fears and shrinking credit availability are prompting many companies to limit spending on areas like corporate travel. If your or...