How to use stipends to ensure BYOD success
Stipends are a way for businesses to reimburse employees for a portion of their wireless costs and, if implemented properly, address these common issues: cost, eligibility, control and taxes. Here’s how:
* Costs. When businesses talk about costs, they generally are referring to either time or money. And companies opting to use expense reports for stipends will find the task occupies a good bit of both. It’s time-consuming for accounting departments to sort through individual expense reports and issue payments only after an employee’s usage has been verified. It’s no surprise, then, that an Aberdeen Group study suggests each expense report costs $18 to process. Compounding those costs, companies opting for this method will issue hundreds or even thousands of payments each month, so the benefits that attend stipends can be quickly outweighed.
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