WalkMe Survey Shows Half of Workers Don’t File Expense Reports, Leaving Billions of Dollars on the Table
December 20 2023 - 11:00AM
WalkMe Inc. (NASDAQ: WKME), a leading provider of digital adoption
solutions, today announced new survey results that show half of
workers (49.7%) around the world are not filing an expense report
for money due back to them, leaving billions of dollars on the
table. With employees leaving an average of $26.25* behind in
unreimbursed expenses, 48% say that work expenses create job stress
with another 28% claiming unreimbursed expenses are negatively
impacting their financial situation this holiday season.
Reasons for not filing expense reports vary across regions and
age; a vast majority (79%) of workers experienced challenges when
filing work-related expenses, the top issue being time-consuming
paperwork. Adding to the obstacles, one-third blamed their
company’s cumbersome expense reimbursement process as a reason for
not filing.
The findings come at a time when 63% of workers are unable to
pay a $500 emergency expense, and employees lean on employers for
additional options for support. Creating a frictionless experience
for employees to reduce paperwork and time spent on expense
reporting is a key part of the reimbursement process. While many
may believe employees are the sole beneficiary of accurate and
timely expense reporting, it is an imperative for employers
for:
- Compliance: organizations have policies in
place to ensure compliance with tax laws. and regulations,
including keeping track of company spending. Proper expense
reporting is part of these policies.
- Budgeting: expense reports provide valuable
insight to make informed budget decisions.
- Accountability: reporting promotes
transparency and accountability to ensure that employees –and the
company –are spending money responsibly.
- Employee experience: companies must provide
ideal means for employees to file accurate and timely expense
reports to make the employee “whole,” thus driving positive
employee experience.
“When expense reporting is so cumbersome or the process doesn’t
feel worth the effort, employees will feel dissatisfaction with
their jobs and more work stress, and that’s a problem for
business,” said Chelsea Pyrzenski, Chief People Officer at
WalkMe. “Enterprises can experience compliance and
end-of-year fiscal reporting issues as a result of the expense
reporting mess, which makes them vulnerable. It’s in everyone’s
interest to ensure the process is very easy, efficient and
seamless, to eliminate the time-wasting shuffling of receipts and
the guesswork around software and policies. When used with leading
expense management systems, Digital Adoption Platforms like WalkMe
have proven to ease expense report frustration and radically
improve both the employee and employer experience.”
Other stats of note:
- 32% of workers are still submitting paper receipts to
finance
- Germany claims the most stress from work expenses at 55.7%
- Respondents in the 35-44-year-old age group were most likely to
leave money on the table (58%), while the majority (63%) of those
55+ always filed an expense report for money due back to them
- The U.S. leaves the most money on the table at an average of
$31.04** while Singapore leaves the least with $20.35**
- 18-35-year-olds were most likely (31.6%) to have unreimbursed
expenses negatively impact their financial situation during the
2023 holiday season, more than twice as likely as 55+ (15.2%)
- Australia is the most forgetful about filing expense reports
(45.2%), 7% more than the next most forgetful region, U.K.
- 59% agreed or strongly agreed that AI and productivity tools
have made expensing easier
About the SurveyConducted in November 2023 in
the U.S., U.K., Germany, Singapore, and Australia, the
multinational survey polled more than 2,400 workers across a wide
array of industries and working ages. The research, conducted by
Propeller Insights and sponsored by WalkMe, surveyed those who
incur reimbursable work-related expenses as part of their job and
all worked full-time with three-quarters in a self-identified
managerial or supervisory role. Access the report here and
infographic/summary here.
About WalkMeWalkMe's cloud-based digital
adoption platform enables organizations to measure, drive and act
to ultimately accelerate their digital transformations and better
realize the value of their software investments. Our platform
leverages proprietary technology to provide visibility to an
organization's Chief Information Officer and business leaders,
while improving user experience, productivity and efficiency for
employees and customers. Alongside walkthroughs and third-party
integration capabilities, our platform can be customized to fit an
organization's needs.
*Calculated by multiplying the total number of respondents by
one of eight monetary amounts, adding the total monetary amount
then dividing by the total number of respondents (#28 in
report).
**Calculated by multiplying the total number of respondents in
each country by one of eight monetary amounts, adding the total
monetary amount, then dividing by the number of respondents in each
country (#28 in report).
$2B total calculated by taking the U.S.'s average left behind,
$31.06, and multiplying it by the estimated number of white collar
workers in the U.S. according to the Department for Professional
Employees (64M).
Special Note
Regarding Forward-Looking
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of unanticipated events.
Media Contact:Christina
Knittelpress@walkme.com
Investor Contact:John
Streppainvestors@walkme.com
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