According to statistics these workers spend an average of £159 of their own money every month on behalf of their employer and for one in five unclaimed expenses add up to as much as £270 a year.
When asked the reasons why they didn’t expense everything, nearly half of those questioned admitted they often don’t claim money back because it’s not ‘worth the hassle’, indicating how time consuming and tedious is it to claim for expenses.
Over twenty per cent of people said they were ‘too embarrassed’ to claim back small amounts of money from an employer and five per cent felt ‘guilty’ about expensing money even though it is rightfully owed to them.
Isabel Montesdeoca, VP at Concur, who commissioned the research, commented, “With worries about job cuts and inflation, people are tightening their purse strings and trying to make their money go further. Expenses should be on the personal finance radar as even small amounts add up over the course of a year.
People should not feel embarrassed or guilty about claiming money they have spent on behalf of their company when they have very tight budgets to stick to at home.
Fortunately, technology now makes it easy for both employers and their employees to manage, reconcile and reimburse legitimate expenses quickly and accurately even when you’re out of the office.”
Lawrence Gold, personal finance expert added, “It’s common practice for people to look for bargains online and to use comparison sites to save money on energy bills and get cheap holiday deals but unfortunately they are forgetting about getting money back that’s owed to them by employers.”