New Survey Reveals Pain Points in Spend Management

Today we released new data that shows companies are struggling with managing corporate spend, particularly with the shift to a remote or hybrid workforce. The survey, conducted among business decision makers on the Angus Reid Forum, reveals the negative impacts of inefficient spend management on company security, workforce productivity and employee happiness — which are of increasing concern as businesses navigate the uncertain economic climate.

Key survey highlights include:

  • 61 per cent of businesses who have most or all employees working remotely express that expense reporting is one of the most tedious jobs in their organization
  • More than half (51%) at these companies agree that time spent reporting expenses negatively impacts their ability to accomplish work
  • 49 per cent of businesses where most or all employees work remotely share company credit card across multiple employees, and among this group, 63 per cent share card details over Slack or email, more than three times the proportion of businesses with only some employees working remotely (18%)
  • Seven-in-ten (71%) businesses report that their employees incur company expenses on personal credit cards, increasing to 80 per cent for businesses with remote employees

Shift to remote work has created new pain points for employees and HR leaders

The pandemic was an unexpected push to remote work that created operational challenges as businesses moved quickly to adapt. Even in a post-COVID world, the strain on employees and HR leaders lingers as companies settle permanently into hybrid and flexible working arrangements. Four-in-five (80%) businesses with remote employees have staff who incur company expenses on their personal credit cards, and 45 per cent report that employees are incurring more company expenses personally for reimbursement since shifting to remote work. With inflation and the cost of living rising, this is a significant financial burden for many Canadians. 

For HR leaders, maintaining existing benefits such as team building activities and socials, as well as managing new employee benefits brought on by remote work arrangements, has resulted in difficulties with expense tracking. Over half (54%) of businesses working primarily remotely report an increase in funds or stipends distributed to employees, and half (51%) of businesses who had most or all of their employees shift to remote work said that it has made receipt tracking more complicated. On both ends, more than half (53%) at these companies agree that expense reporting is a major pain point for employees, and 51 per cent agree that time spent reporting expenses negatively impacts their ability to accomplish work. As remote or hybrid work becomes the norm, these challenges will only become more prevalent unless businesses adapt new processes and technology to streamline spend management.

Concerns for corporate spend management in a tough economic climate

As recession fears grow in Canada, business leaders are increasingly focused on maximizing productivity and finding cost-saving opportunities. The survey found an operational bottleneck amongst many Canadian businesses to be their manual expense tracking, which directly impacts productivity. 82 per cent of businesses spend at least a day to close their books at month-end, and among businesses whose workforce shifted to remote work during the pandemic, two-in-five spend at least four days on the task. This is significant as almost three-in-four (74%) businesses agree that they could spend less time closing their books at month’s end.

The ripple effect of heavy manual expense tracking is that it leaves businesses unable to scale up without increasing overhead. Currently, the most time-consuming expense reporting tasks for companies that have shifted to remote work are: ensuring expenses are accurate (64%), fixing human errors (56%), tracking down employees for receipts (56%) and manually reconciling and entering data (55%). These are pain points that will become larger as a company grows, limiting Canadian businesses’ ability to shift as needed during a volatile economic period.

Additional findings include:

  • Almost half (48%) of businesses with most or all employees shifting to remote work are seeing increased paperwork from expense reporting
  • 30 per cent of businesses who have most or all of their employees working remotely use 6 or more different finance software and tools for accounting-related work 
  • More than two-in-five (44%) businesses with primarily remote employees plan to purchase new software for finance and accounting-related work in the coming year

Methodology: These are the findings of a survey conducted by Float from May 26-30, 2022 among a nationally representative sample of 427 Canadian finance decision makers at companies with 15-300 employees. All respondents were members of the online Angus Reid Forum. For comparison purposes only, a probability sample of this size would yield a margin or error of +/- 4.7 percentage points, 19 times out of 20. The survey was offered in both English and French.

Why Better Corporate Spending Starts With Strong Policies

They say if you follow all the rules, you miss out on all the fun. But when it comes to your financial policies, you’ll want to ensure your team knows every single one! 

The road to better corporate spending is always smoother when there are robust financial policies in place. They instantly map out expectations from every employee and link their actions directly to the bottom line. For startups in particular where growth is fast and expenses pile on quick, this is even more essential. These policies act as a bridge between your finance team and employees and formally outline the “boundaries” of corporate spending in your organization. When everyone is aligned on this, you can expect greater compliance, lower risk of expense fraud and a healthier spend culture.

It keeps everyone aligned on spending goals 💰

By formally outlining financial policies, it’s an opportunity to get employees aligned and informed on the larger financial goals of the company. These policies communicate key financial expectations related to the distribution and use of corporate cards, spending responsibility as well as transaction limits across all departments. ✅ They also help to clearly define roles when it comes to spend and expense management. Having these policies in place are especially important during onboarding as you can set expectations early on and build a healthy spend culture from the moment they join. 👍🏼

It enables greater oversight and spend control 👀

As your team grows and more corporate cards are assigned, it becomes even more critical to have financial guidelines for spending – especially from a risk management standpoint. With more people having access to corporate funds, greater oversight and control is needed. 

At Float, we take this one step further by allowing managers not only to create policies but to distribute corporate cards with predefined limits. Not only does this allow you to protect your business but it also empowers employees to make smart spending decisions in a fast and reliable way – without long approval wait times.

It can save time and money with the help of automation 🙌🏾

Setting financial policies eliminates a lot of frustration and wasted time – especially during critical times like month-end. When you add automation into the mix, it’s even easier! Smart spend software like ours at Float can help to promote your financial policies and encourage compliance through a range of key features. 🤩 For example, our receipt collection feature not only allows companies to set a standard for how they wish to track and manage daily transactions but it also holds employees accountable to their spending. Once a transaction is made, employees are instantly prompted to submit a photo of their receipt. 🤳🏻 And if they don’t, finance managers can auto-lock the card after a certain number of receipts are left unsubmitted. 

At Float, we empower startups and SMEs to establish financial policies, simplify complex processes and gain more visibility into company-wide spending. We want to ensure that you’re equipped with everything you need to grow your team, spend smarter and keep a pulse on your finances at all times. Book a demo with us today and learn how Float can help you!

Back at It Again With Crazy Expense Write-off Attempts

Are you ready for another round of insane expenses? We’re back with some more amusing and out-of-this-world attempts that folks tried to pass off within their companies. These poor finance teams… 🤦🏻‍♂️

Here comes the bride.. and a major bill! 👰🏾

Your daughter’s wedding is a once in a lifetime event. You’re surrounded by a room full of family, friends and maybe even your most loyal clients and colleagues – all having a great time.  Nonetheless, this isn’t your ordinary work event. It’s your daughter’s very costly, fairytale wedding that she’s always dreamed of. One father thought it was a good idea to write off the nuptial celebration as a business entertainment expense. If anybody objects to this, speak now or forever hold your peace! While the marriage was a success, we can confirm this expense was not approved. 🚫

Tatted during lunch hour ✍🏽

Picture this: Noon hits and a bunch of your co-workers are headed for a team lunch. Someone decides it’s a great idea to grab a burger and a new tattoo. While your Combo #6 with a side of fries may count as a business meal expense, that fresh ink on your arm definitely won’t. An employee in Boston thought differently when he tried to submit a receipt for a new tattoo, labelling it as a “medical” expense. 😆

Don’t forget the tomatoes, honey! 🍅

A sales representative who worked in advertising claimed to have purchased gourmet gift cards to give to clients. In most cases, this could be deducted as a business expense and the story would end there. However, this sales rep had other plans. He decided to keep the gift cards and go on a major grocery shopping spree! 🛒 Before they could even enjoy their first home-cooked meal, they were caught. Yikes!

An A+ for effort 👩🏼‍🏫

Every parent wants their kids to excel in their school, don’t they? Regardless of how noble her intentions were, one mother attempted to write off her child’s tutoring sessions as a business expense. How did she try to justify this one? Well, she firmly believed that her employer owed her one since she had to spend the majority of her day at work and was unable to tutor her own child. Looks like this assignment failed. 👎🏼 Expense = rejected.

Seasons greetings gone wrong 🎅🏼

In Ohio, one employee submitted an expense for her family’s personalized Christmas cards – 52 of them to be exact. Since she had been working long hours during the holiday season, she supposedly had no other time to design and order them other than during her lunch break. So, she decided that it was only right for her CEO to pay for them! 🤨 Although it’s the season of giving, this expense was definitely not approved.

Whether they have good intentions or not, it’s important for finance managers to monitor and keep track of employee spending to ensure expenses like this don’t fall through the cracks. Thankfully, Float gives you an eagle eye into your daily corporate spending so you can spot anything crazy in real time. Book a demo today!

3 Common Misconceptions About Corporate Cards

It’s no secret that difficulty accessing corporate funds is a common challenge for many startups in Canada. Whether you can’t seem to get enough funds for your growing team or are unable to get approved for credit, it’s not as daunting as it seems. We’re here to set the record straight with the answers you need.

Myth #1: All corporate cards are the same.

Not exactly true. Purchase rates, card limits and annual fees typically vary between banks and financial institutions. For example, most banks take two to three weeks to approve a credit card application – and that’s with a 19.99% purchase rate and a $120 annual card fee. 😕 Float captures this entire process in just three days – no purchase rate or annual card fee required. With a physical or virtual Float card also comes an automated spend management software that allows for easy receipt collection, expense tracking, accounting sync and more. And, you get 1% cashback on all your purchases. So, to say that all corporate cards are the same just isn’t true! 🙅🏻‍♂️

Myth #2: Startups are not allowed to get corporate cards.

Getting approved for a corporate card as a startup is no easy feat. The application process isn’t always kind to new businesses due to a lack of experience, credit history and collateral. And most of the time, banks aren’t willing to budge and give out credit cards because of this perception of risk. If they do decide to give them out, it’s usually with lengthy and expensive terms and conditions that could impact company financials in the long run.

We know that businesses run smoothly when everyone in the company has access to corporate funds to get their jobs done. So if you’re having trouble getting enough corporate cards for your growing team, Float’s prepaid corporate cards are a great alternative to take the stress away. 💳 The application process is simple and there’s no personal guarantees. All you need as a company is an active business bank account and you can issue and fund as many corporate cards as you need in a matter of days! 💨

Myth #3: A personal credit card is a good alternative to a corporate credit card.

Wrong! 🚫 Putting your personal and business expenses on a single credit card is a common error many companies make. As a founder, sharing personal credit card information with employees can result in unauthorized transactions and increase chances of fraud. The same goes for employees who use their personal cards for business-related purchases. While it might seem like a good alternative if you can’t get approved for credit, it’s actually extremely inefficient, not secure and makes expense management more complex than it needs to be.

Ready to get a corporate card that lets you scale? Book a demo with Float today to learn how we can make this process easier for you as you grow and scale.

Three Startup Challenges You Should Axe This Year

Picture this: you’re a Canadian startup revved up and ready to hit the ground running with no shortage of ideas coming down the pipeline. 🔥 But, you constantly find that you and your team are being held back by a series of financial challenges – whether it’s accessing funds and credit, managing your corporate spend or getting control of your budgets. Any of these sound familiar? 😓 Find out how you can axe these three spending challenges for good this year:

Challenge #1: Difficulty accessing corporate cards for your team 💳

Startups are moving fast and the last thing they want are roadblocks getting in the way of growth. One of the most common setbacks that startups face is difficulty accessing funds and corporate cards. Getting approved for a corporate card with one of the big banks can be as slow as snails. 🐌  And the reality is that startups can’t afford to wait that long to get things done. 

Having access to immediate funds for any startup is crucial. It enables teams to be responsive and act on big ideas quickly and in some cases, it’s necessary for employees to get their job done on any given day. At Float, we took this challenge by the horns and made it a whole lot easier for startups to access high-limit corporate cards with no personal guarantee. We get you approved in just one day and deliver your cards within three! 👍🏼

Challenge #2: Minimal visibility into corporate spending 👀

Without a proper system and finance policies in place, it can feel nearly impossible to know where your money is going, who’s spending it and why. When companies don’t have insight into corporate spending, it makes it that much harder to manage budgets across teams and creates a domino effect of other financial challenges including overspending and expense fraud. 🤯

Float can help you nip this in the bud. 😃 Our automated spend software and corporate cards can help you track corporate spending in real time. That’s right – you can see how your corporate dollars are being spent, as they’re being spent and by who. Not to mention, with our physical and virtual cards, you can set spending limits within teams to ensure employees aren’t overspending or making unauthorized business purchases. Float gives you an eagle eye into your corporate spend without any serious heavy lifting. 👌🏾

Challenge #3: Time-consuming expense management processes 🕰

Waiting until year-end to collect receipts and review expenses is a big no no. A lot of the time, startups rely on their employees to submit physical receipts at the end of the tax year, only to find out that they’re either invalid, lost or not a taxable business expense. That’s why Float was dead set on finding a better way. 😉

When employees make business purchases using a Float credit card, all transactions are recorded in time and employees are instantly prompted (and reminded) to submit their digital receipts. That’s right, those paper chasing days for your finance team are over. 🙅🏻‍♂️Using Float, finance teams can easily review and manage expenses at any given time throughout the year, with more time to analyze and understand how those funds are being spent within the company. 

If you’re ready to axe these challenges within your company once and for all, connect with us today to learn how Float can help.

A Few Ways To Show Some Love To Your Finance Team

Your finance team is focused on managing corporate spend, budgets and receipts on a daily basis. They are the fuel that keeps the company running smoothly and one of the most important departments in the fold. And, if you’re a new startup, it may just be that one special person who takes care of it all. 💸 🙋🏼‍♂️
If your finance team or accountant looks like they’re running on empty, here’s how you can show them some extra TLC this month. 💙

A simple ‘thank you’ goes a long way 🥰

Post a sticky note on their desk, send them a Slack message or write up a quick email expressing how appreciative you are for their hard work. 🙏🏽   Even the smallest of gestures can make a big difference.

Get on their good side. Submit receipts on time. 🧾

There’s nothing your finance team dreams of more than a stress-free month-end. ✅  One way to make their lives easier is by staying organized and submitting your receipts on time. This will save your finance department all of the stress and headaches they often endure while having to chase employees down for those last minute receipts. 🏃🏼‍♀️

Send them a sweet treat 🍦

See where you can extend your corporate budget and send a well-deserved treat to your finance team. Whether it’s some much-needed caffeine or a team lunch, the best way to anyone’s is through their stomach.🍕 🥗 ☕️

Win their heart with Float 💘

This will be love at first sight. 😍  Float’s platform simplifies and automates the entire spend management process that will make any finance team fall in love…fast.

  • All expenses are organized and tracked in real time, all in one place 👍🏼
  • Save time and say goodbye to expense reports 🎉
  • Easily issue corporate cards to any employee who needs one 💳
  • Gain greater visibility into company and team spending 👀
  • Employees are notified to submit receipts after every business purchase 🧾

Diffuse month-end anxiety and show your finance team some love with Float. Book a demo with Float today. Your accountant will love you for it. 😍

Why You Need a Better Way to Track Employee Receipts

Keeping up with your corporate expenses can be a total nightmare but it doesn’t have to be. In fact, 15% of all Canadian SMEs have found tracking expenses and reconciling their books to be a major challenge. If your team is growing, there’s a good chance your expenses are too, which means getting a handle on your expense management is key. Finding a better way to track and manage corporate spending can save you thousands of dollars a year – and we’re here to let you in on the solution. 

It pays to keep track.

Canada Revenue Agency requires Canadian businesses to keep records of all transactions to support their income and corporate expense claims. Companies can claim tax deductions on expenses, but only if they have a valid proof of purchase and can prove it was a business expense. How can they do this? 🤔  By providing a receipt. 🧾  
If your corporate receipts aren’t organized or properly submitted, you won’t be able to use these expenses as a tax reduction, which means less money back in your pocket come tax season. That’s why companies need to invest in the proper tools to enable managers to easily collect and record receipts from employees all year round. This will help them easily track their expenses and have a better picture of where their money is going, who is spending it and why. When it comes time to file taxes, you’ll feel like a major weight is lifted off your shoulder!

Automate & Celebrate! 🤩

Let those piles of receipts and chasing employees down be a distant memory of the past. 👋🏽 Not only is it annoying and inefficient, but it just makes things more difficult than they need to be. We have a better way with Float. Our innovative expense software and corporate cards automate this entire process, helping companies easily track employee purchases in real time while eliminating all of the headaches and paperwork that come with it. When purchases are made using a Float card, employees are instantly notified to submit a digital receipt so that your finance team has everything they need to review expenses, manage budgets and easily claim tax deductions. Float not only helps teams save hours in expense management every month, but we also give you back control over corporate spending in your organization. Not to mention, keeping financial records in the cloud has proven to be safer and more secure – and good for our planet. 💚 If there is any damage such as a fire or flooding in the office, you can ensure that everything is protecting, floating in the cloud!

We’ve got you covered.

Our platform collects your receipts so that you don’t have to – leaving extra space in your filing cabinets and less stress on your mind. With Float, you can: 

Get started fast with our simple set-up & onboarding 🚀

Quickly and easily reconcile your books ⚡️

Track business purchases in real time 💸

Create financial policies for all employees to follow 👍🏾

Instantly notify employees to submit receipts after a transaction 🧾

Set spending limits & approve spend requests in seconds ⏰

Collect and review key financial data all in one place ✅

Are you ready to introduce smarter, more efficient financial processes in your business? Book a demo with Float today!

A First-Class Ticket to Managing Corporate Travel Expenses

Most people can agree that getting a handle on travel expenses without a good system in place can feel like walking in the dark with no flashlight. The good news is that Float has a first-class ticket for any organization to successfully manage corporate travel expenses, providing simple solutions to these common headaches. 🙌🏼

❌  Unclear and inconsistent travel expense policies 🤷🏼‍♂️

✅  Float helps you create simple financial policies for the entire company 👫👫

More often than not, expense policies for travel are not always clear. When employees don’t know what falls under an acceptable travel purchase, they have no way of avoiding issues when it comes time to submit expenses. Ensuring employees are aligned can make the paper trail a lot more smooth for finance teams. At Float, our software allows managers to create clear spending policies company-wide so employees are aligned on expectations before and during travel. Managers can also set category limits that every employee can understand and abide by to avoid exceeding travel budgets.

❌  Poor visibility over travel spending across the company 😧

✅  Float gives you a clear picture of travel spending 🔎

Does your finance team know the average daily cost of employee meals during business travels? 🥗  What about the average cost of transportation? 🚕  Most companies don’t have this information at their disposal and are often shooting in the dark when it comes to budgeting for business trips. They have no way of measuring or anticipating how much an employee is going to spend and thus are unable to set clear limits to stay on budget. 

With Float, finance teams can see all transactions being made in real time while employees are travelling ​​– providing key insights into the average costs of food, transportation, lodging and other business travel expenses. This real-time data is critical in helping finance teams and managers set department budgets for business travel in the future with appropriate spending limits for each category.

❌  Inefficient and time-consuming processes 👎🏼

✅  Float cuts expense reports with full automation ✂️

Manual expense processes are time-consuming and make it 10x harder to manage transactions ​​– and when employees are abroad, it can create even more headaches. Ditch the spreadsheets and paper receipts and automate the process with Float. We make it possible to record business expenses in real time, instantly notifying employees to submit their receipts upon every purchase. This has been a gamechanger for companies with employees travelling across the globe. So if your sales team is in Montreal from Tuesday to Wednesday and then in New York Wednesday to Friday, every purchase they make will be approved and recorded in a matter of seconds, all in one place.

❌  Delayed employee reimbursement ⏳

✅  ​​Get instant access to funds during business travel with Float  💳

No manager or employee wants to use their personal credit card during business travel let alone wait for reimbursement. It causes added stress to employees having to use their own money (not to mention waiting to get it back), while complicating expense management with piles of receipts for finance teams to sort through. 🤯 

Is your head exploding yet? Don’t worry, we’ve got an app for that. Our smart spend software along with Float’s physical and virtual cards enable companies to issue an unlimited number of corporate cards to employees in under 3 days. That’s right ​​– no more personal cards during business travel ever again.🕺🏻 So if your marketing team is off to Chicago for a conference, you can easily issue cards for all employees attending, set a spending limit and make each of them valid for the duration of the trip only. This makes it easier for employees to access corporate funds and spend during business travel, while simplifying the process for finance teams by no longer having to reimburse employees and chase them down for receipts.

Take off with Float ✈️

If your teams are travelling often, then Float should be one of the first things on your packing list! 🧳  Our smart automation spend software alongside our corporate cards simplifies corporate travel expense management, saving companies valuable time, energy and money. Float helps you understand where your money is coming and going, who is spending it and how much, allowing businesses to be more strategic, efficient and informed in the way they spend. 

To learn more about how Float can help your company spend smarter and travel better, connect with us today!

The Most Bizarre Business Expenses Ever Submitted

Have you ever wondered what employees are trying to pass off as legitimate business expenses? As a financial controller, you may think you’ve already seen it all. But our team at Float did some digging and uncovered some of the most outrageous expenses ever submitted. Here are some favourites.

Take your morning commute to new heights 💸

Ever wondered if a $2,500 helicopter ride labelled as “transportation” would be approved? Well, the answer is no. 🚁  However, during the pandemic, a $20K private jet to safely travel to an international photoshoot was quickly approved – no questions asked! ✈️

Something smells funky here 😬

Although it’s a key ingredient in some of our favourite recipes, it’s not quite the aroma you want while trying to get some shut eye on your business trip. In 2015, an employee from a sales team working in the food industry admitted to booking a separate hotel room for $85 per night to store hundreds of garlic samples simply because he couldn’t stand the smell. 👃🏼 The travel expense = not approved!

Repairs and maintenance…to thyself 💆🏼‍♀️

This past year an employee thought they would be able to get away with submitting a receipt for a $7K facelift, labelling it as repairs and maintenance. I guess you could say some repairs were made but not the kind that your CEO needs to pick up the tab for. 🤨

Everyone deserves a lunch break 🍽

Picture this, you’re a production crew member shooting a commercial on a farm. Among your fellow team members and models is a stable of horses waiting to enter the next scene. 🐎  Lunchtime rolls around and everyone’s gotta eat! In California, one woman felt that it was only right to expense lunch, even for the horses! 50 bags of carrots and a detailed explanation later, her finance team approved this and went on with their day. 🥕🤷🏻‍♀️

Allow us to pick your brain 🧠

How much does a human skull cost? Asking for a friend. In 2013, a finance manager expressed that one of the most bizarre expenses he came across was for a human skull.💀  While it was being used for a legitimate medical experiment, it’s not everyday that you see a transaction like this run through the general ledger. 

All jokes aside, many outrageous expense claims like the ones listed above can fall under the radar if a company doesn’t have a smart system in place. Using a platform like Float, finance managers can simplify expense management with full visibility over company spending, how much is spent and by who. It gives finance teams an eagle eye with more control and encourages employees to spend responsibly and ethically – minimizing the chances of ridiculous expense submissions. 👍🏼

Three Ways to Engage Your Virtual Team This New Year

If your team has shifted to a WFH or hybrid work routine for the foreseeable future, it’s important to keep a pulse on how everyone’s adjusting. While working from home has its perks, the kitchen-table commute can get monotonous, causing employees to feel disconnected, disengaged and fatigued. All of this combined can impact productivity, performance and general work satisfaction. As we adapt to this new way of work, managers need to find creative ways to keep employees motivated and connected in different ways. 

With a fresh new year ahead, there’s no better time than now to make some lasting changes. If you notice your team has been having a hard time staying connected while working from home, try some of these fun ideas to strengthen relationships, improve engagement and bring more smiles to the screen.

Learn something new as a team 👫👫

Teamwork doesn’t have to end at 5 o’clock. In place of a team outing, keep everyone together after work hours for a good time with a range of fun activities. 👍🏼

Cocktail Parties 🍸

Hire a mixologist to host a virtual class and teach your team how to create signature cocktails, while learning the tips and tricks of the craft. 🥂

Cooking Classes 👨🏻‍🍳

Learn how to make fresh, authentic pasta 🍝, discover the secret to the perfect sushi roll 🍣  or explore the art of french baking! 🥐

Virtual Games

Does your team love a good challenge? Join a virtual escape room and work together to solve a mystery. 🕵🏻‍♂️  Have you ever wanted to be on a TV Game Show? Host an “Employee Feud” over Zoom for a Thursday game night. 🎲

Get moving, together! 💪🏾

We all know that our productivity at work is directly linked to our mental and physical health. When you find your team is feeling bogged down, introduce new ways to sharpen their minds and improve their well-being. Host a group yoga class 🧘🏻‍♀️ or create an incentive for everyone to get their steps in. Nike Run Club is a great tool teams can use to stay connected, track their fitness and hold themselves accountable on a weekly basis. Stepping out for fresh air or getting a little sweat in is the perfect antidote managers can prescribe for long hours at the desk and all that Zoom fatigue.

Coffee breaks but virtual ☕️

In the corporate world, getting a coffee means more than simply getting a coffee. 😉 It’s a social outing that sparks conversations, creates opportunities to network and actually helps to build relationships with co-workers. Working from home unfortunately eliminates this altogether. Managers can change this by sending employees e-gift cards to their favourite coffee shop or an immediate spend approval for their daily order of a venti almond milk latte! If your team uses virtual cards like ours at Float, thoughtful gestures like these are simple and easy to do – and can make all the difference in your employees’ day. 😊

Whether your organization is working from home indefinitely or taking the hybrid route in 2022, keeping a pulse on everyone’s mental and physical wellness and boosting engagement is a non-negotiable. Creating a culture of collaboration and connectedness with virtual teams doesn’t have to be difficult. In fact, it can be really fun! 🎉

If you and your team explore any of these ideas, let us know! Share your experience on Instagram or LinkedIn and tag Float!