The Cashflow Show Xtra | SHOULD WE PAY REMOTE WORKERS LESS? | Thorbjørn Fink, COO of Pleo

The Cashflow Show: Entrepreneurship Insights for Founders, CEOs, and Business Leaders

It is truly a pleasure to welcome Thorbjørn Fink, COO of Pleo to The Cashflow Show Xtra in association with Podcast Radio Business.

In this episode, I sit down with Thorbjørn Fink to discuss; Expense Management, Systems, Salaries, Employee Empowerment & Satisfaction, Working From Home & Should Remote Workers Be Paid Less?

Thorbjørn Fink can be found here:
Website: https://www.pleo.io/en
LinkedIn: https://www.linkedin.com/in/thorbj%C3%B8rn-fink-ab38aa14/

SHOULD WE PAY REMOTE WORKERS LESS? IMPROVING OVERSIGHT OF BUSINESS OUTGOINGS SHOULD BE NO 1 PRIORITY BEFORE CHANGES ARE MADE, SAY PLEO

The majority of UK SMBs are optimistic at the start of 2024, with 49% saying the year will be easier than 2023. But it remains that 25% are looking to reduce outgoings as high costs continue to impact operations.

One key area they will look to do this is by rethinking their approach to remote working with 20% exploring whether they can reduce pay for remote workers.

However, with 27% lacking confidence in their financial ability to recruit in 2024, this should be done with caution. Before attempting this, a firm should have a strong financial visibility and assess all areas.

But, only 36% report feeling they have a good grip on their expenditure, and only 28% have strong visibility of their financial health and performance.

Pleo COO, Thorbjørn Fink believes that, for businesses to meet their revenue growth and saving goals of 2024, they need to ensure they have full visibility and insights into all outgoings.

“When there is real pressure on financial growth, companies can no longer afford to silo their outgoings into expenses and spend. Choosing to ignore low-cost items means CFOs are needlessly putting blinkers on and, in the process, only getting half of the spend management picture,” he says

This comes as the data reveals 20% treat business spend and expenses as two separate outgoings streams, with 23% “not too bothered” about tracking smaller expenses.

Pleo is the Europe’s leading spend management platform for SMBs, compiling and streamlining all outgoings to provide leaders with contemporaneous and exhaustive insight on operations.

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