Paying employees is the easy part. Maintaining the transparency and accuracy of financial data coupled with leveraging data insights to help your business save time and money is more challenging. Invest in a cloud-based platform to help automate insurance, payroll & HR administration today.
Expenses that are clearly related to the business or a service rendered by an employee classify as work expenses. In the UAE, employees ask for reimbursement 12-23 times a year, which leads to a heavy backlog of work and complex calculations for finance teams on a monthly basis. It’s also clear that most work expenses are incurred for fuel, indicating that most employees use their own vehicle for business-related purposes.
Top 5 most requested reimbursements
Number of reimbursements per employee per year
Forecast your budget
Understanding workplace reimbursements trends can help you create a company-wide standard by comparing your business to the industry average for expense policies.
Average amount reimbursed per employee per year
Total amount of reimbursements submitted per year by company size
Invest in your people
Salary allocation data lets you assign and divide salary expenditures across your company for precise reporting into how salaries are paid. It helps organizations figure out how much each department spends on payroll and the cost of labor, in turn enabling them to more effectively plan their budgets. This data can be used to analyze compensation and incentives in relation to industry averages and competitors, to ensure that employees are on the appropriate packages.
Percent of salaries allocated to each department
The UAE is considered a global hotspot for generous salaries. With new policies coming into place, it has become even more attractive to employers. Some of these new policies include opening business sectors to 100% foreign ownership, flexible freelance visas, and providing golden visas for business owners.