4/16/2023 0 Comments Remotely meaningSo, it’s up to you to decide which one suits you best.īut is it mandatory to pay remote work stipends for your employees? Are Employers Obligated to Pay Remote Work Stipends?Īlthough a remote work stipend isn’t compulsory and you don’t necessarily have to pay them, it would be great if you did it.Īccording to a survey conducted by OwlLabs in 2020, only 20-25% of companies share the cost of remote working expenses like furniture, equipment, and utilities. It can be a weekly or monthly stipend or however your organization sees fit. You can pay this stipend as a lump sum annually or small amounts at regular intervals. But, it’s extremely time-consuming, and you might need an employee to monitor such tasks. Expense Reimbursement: On the other hand, expense reimbursement for individual employee expenses makes sure that you pay for exact costs instead of estimated costs.However, the downside of fixed payment is that you may end up paying more than what the employee spends for work-related expenses. Fixed Stipend: Paying a fixed stipend to each employee rather than reimbursing individual expenses reduces the operational time.You can choose whether to pay a fixed stipend to every employee or reimburse employee expenses individually. This amount is in addition to the employee’s base salary that aims to cover only their necessary expenditures.Īs more and more companies are looking for remote work options post the COVID-19 lockdown, they need to acknowledge the hidden costs of working remotely. Some of these costs are setting up a home office and maintaining it, Internet connectivity, and energy bills. What Does Remote Work Stipend Mean?Ī remote work stipend is a sum of money given to employees to access additional benefits like ergonomic chairs or better Internet connection while working remotely. 4 Tangible Benefits Of Remote Work Stipend.3 Easy Steps to Set Up Remote Work Stipend.Are Employers Obligated to Pay Remote Work Stipends?.(Click on a link below to jump to a specific section) We’ll also cover three easy steps to set up a remote work stipend and some of its tangible benefits. In this article, we’ll take a closer look at what a remote work stipend is, how employees can utilize it, and whether your organization should consider remote work stipends. However, some regions have laws requiring employers to cover their work-related expenses. These stipends are generally optional for employers. Remote work stipends are fixed or varying amounts of money paid to a remote employee in addition to their basic salary for their home office setup, coworking space expenses, or paying electricity bills. That’s why employers should seriously think about remote work stipends. Thanks to the Coronavirus pandemic, people across the globe today have warmed up to the idea of remote working and even prefer it over traditional offices.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |