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Cash flow strategies for the global mobile workforce

3 ways to optimize mobility and rewards programs in an economic downturn

Organizations are defined not only by how they thrive during strong economic periods, but also how they conquer the uncertainty of challenging ones. Success isn’t a sprint. It’s an endurance event. Streamlining mobility and rewards programs can help address economic downturn and cash flow management concerns as your organization prepares to go the distance.

Bumpy road ahead?

There are times when an economic environment gives us mixed signals. Inflation that had been high starts to subside. Hiring numbers are up, but consumer confidence is down. As a result of these hard-to-read trends, there’s uncertainty for finance leaders over what their companies need to do to persevere through the ensuing months.

Uncertainty, though, shouldn’t lead to unpreparedness.

Organizations are looking to get smarter with their global workforce management and rewards program spend and find new areas for cash flow optimization.

Let’s explore three types of opportunities within your mobility and rewards programs.

Front-end planning

There are several planning areas where fresh eyes and an open mind can find opportunities for increased cash flow.

BENEFITS

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MOBILITY TAX AND COMPENSATION

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EQUITY AND INCENTIVES

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Back-end refunds

There are opportunities to increase cash flow by getting tax refunds for wage and benefit payments that your organization has already made recently.

EMPLOYMENT TAX REFUNDS

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COBRA CREDIT

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EMPLOYEE RETENTION CREDIT

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Outsourcing opportunities

By engaging with third-party service providers to assist with some of your tax technical work, you can take the energy, time, and cash your teams spend on the day-to-day and put it toward a more strategic focus.

TALENT MOBILITY

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BENEFITS TAX COMPLIANCE

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In it for the long haul

There’s opportunity in the uncertainty.

When the economic environment is giving mixed signals, organizations can benefit from optimized mobility and rewards programs that can help address the challenges inherent in an economic downturn. Not only can they help your organization navigate difficult periods, but they can enable it to grow more efficiently during strong ones.

There are myriad opportunities across your mobility and rewards programs to find new areas for cash flow optimization. A trusted guide to help you identify specific areas where you can make those gains is vital.

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Front-end planning

Benefits

By analyzing current compensation, benefits, and wellness packages, employers have the potential to assess employee experience, alleviate unnecessary spend, and free up cash.
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Mobility tax and compensation

Applying both a short-and long-term lens to your global mobile workforce spend can help find cash that can be repurposed for other priorities.
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Equity and incentives

Employer stock and related equity incentives can be used as powerful tools to preserve cash while continuing to incentivize key talent.
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Back-end refunds

Employment tax refunds

It’s possible to identify above-the-line cash tax savings in the employment tax space through a strategic employment tax review (SETR), especially if there has been recent merger or acquisition activity involving the movement of employees. An SETR can determine:
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Mobility tax and compensation

The amount companies spent in 2021 on providing “free” COBRA care for employees terminated during the COVID-19 crisis can still be recaptured through quarterly employment tax forms (Forms 941-X). When looking into this potential source of cash:
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Equity and incentives

Though the coverage period for the employee retention credit in the CARES Act ended in 2021, employers may well have paid amounts to employees for which they are still entitled to a credit. Determining your qualification for the credit will require:
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Outsourcing opportunities

Employment tax refunds

The opportunities of the overall global mobile workforce, as well as its increasing complexity, are putting pressure on mobility teams to do more with less. Mobility-as-a-service can bring digitized, process-driven global workforce management solutions and may bring about greater operational efficiencies through:
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Mobility tax and compensation

Some organizations may be struggling with the resources and time it takes to manage their benefits tax compliance obligations, including Forms 5500, 1095 (ACA filings), and related filings. Engaging with a third-party service provider can help decrease expenses in the intermediate term through:
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