I find the spacing between the word it refers to and the footnote call a bit too large. Is there a way to reduce it ?
Please always post a complete small document that shows the problem and all classes/packages used. The layout of the footnote marking is under the control of the document class, and you haven't said which you are using.
however the default definition is
So you could have
or whatever negative space you want. Note there is no space added by default so any negative space has the potential to make the footnote mark over-print the preceding text.
@tohecz suggests in comments that you have gone
In either case the space before the footnote mark is the word space entered into the document not coming from the macro. This again shows the importance of always posting a complete example. If you have spaces before your