Motus has been in the reimbursement game for a long time. While the majority of that has been spent in the vehicle space, we got into asset reimbursement three years ago. As mobile workforces continue to grow, more and more employees are using their personal phones, tablets and potentially broadband for business reasons. But what does providing an accurate reimbursement for employees look like? Well, we’d be happy to show you how we do it. First, we’ll share a quick definition of bring your own (BYO).
BYO, or bring your own, is a customizable program companies use to reimburse their employees for a combination of personal assets. Those assets include phones, tablets, internet and home office. It’s simple: employees bring their own assets to work with and their employer reimburses them for the business use of those assets. Some companies may choose to only reimburse employees for phone usage or their at home internet usage. The biggest question from most companies is: what gets reimbursed?
This depends entirely on how your company wants to enable its employees. As listed above, the three possibilities are devices, broadband and home office. Motus being a remote company, we reimburse for devices and broadband. We’ll explore each of them more in depth, beginning with devices.
We live in a time when employees comfortably use their personal devices for business reasons. Calls to make meetings, quick emails to coworkers, sometimes a phone is more convenient than a computer. But smart phones aren’t the only personal devices that see business use. Employees with tablets may also have a reason to use them for work. And when employees use these assets for business purposes, they should be reimbursed for that usage.
Almost more than their personal assets, employees who spend time working at home need the internet. It doesn’t matter if they’re fully remote or commute to the office a couple times each week, the business use of their personal internet should be compensated.
Finally, there’s the home office. An employee who works from home might not need to purchase a desk or a chair. They may even have extra space for a home office setup. Companies can provide reimbursement to help with the purchase of a desk or chair. More than that, employees working from home use their utilities during business hours, when people in offices wouldn’t. Companies might consider this cost when reimbursing their employees.
A good reimbursement begins by considering the costs. Looking at each piece of a BYO program—phones and tablets, internet and home office. Each has its own associated costs. For phones and tablets, there are hardware and carrier fees. For internet, there are bills and taxes. And, for the home office, those costs can include insurance, utilities and mortgage or rent.
With all these costs to consider, we leverage the Motus Platform. The platform holds numerous factors and data points from across the country, and with geographic-sensitivity. Considering these costs specific to location of operation, Motus calculates fair and accurate rates. These rates are also updated with the costs and taxes associated with each reimbursement, given that they change often annually.
For many companies, the biggest concern of enabling employees to use their personal assets for work is security. Which makes sense. Any phone, tablet, computer or other device an employee uses to access possibly sensitive company information is an access point for potential cybercrime. A company provided-device program may cost more, but security seems to be much less concerning. Fortunately, there are secure ways to roll out BYO programs.
At Motus, we’ve established a BYO policy that regularly updates software, educates employees on security best practices and enforces authentication. Employees logging into business-related apps must use their password and provide a one-time login code in order to gain access. If an employee loses their phone, this makes stealing data considerably more difficult.
We’ve shared what Motus reimburses through a BYO program, how Motus calculates rates for employees and the security present in a BYO program. One area we did not touch on was the benefits a BYO program provides its employees. Employers can make administration much easier, gain insight and potentially control costs. But what about the people using their personal assets for work?
There are a number of ways employees benefit from a BYO program. That goes beyond being reimbursed fairly and accurately for the business use of their personal devices. Employees are already familiar with their own phones and tablets. This simply makes their job a little easier. It also provides flexibility. It’s the employee’s personal phone, not their phone and a company-provided phone. Finally, employees don’t have to submit an expense report to receive their reimbursement. They simply set up their Motus account, enter in their information and get reimbursed each month.
Now you know how we do our own Bring Your Own program. So what comes next? If you think you’re ready to roll out a program customized to your company’s needs, you can always reach out. We’ll connect you with someone who can help you determine how to best fit your company’s needs. But, if you want a better understanding of the offering and the implementation process, we have you covered. Learn more about our BYO solution today!
Contact us today or take a virtual tour of the Motus Platform.