Employees today seek a workplace that provides safety, flexibility, and supports a work-life balance. Resignations are up for a variety of reasons, such as inadequate compensation, a stressful commute, a lack of flexibility, or a poor work-life balance.
Given that the cost of hiring new employees far exceeds the costs of retaining your staff, maximizing employee retention should be a primary focus of any business amid this Great Resignation period. Below are three ways your organization can boost retention and stay competitive in today’s dynamic market.
Commuter benefits are transportation benefits regulated by the IRS tax code that incentivize employees to reduce their monthly parking expenses by switching to more sustainable modes of transportation, such as biking, using public transit, carpooling, or vanpooling. Along with boosting retention, offering commuter benefits can also help employers save up to 9% on FICA payroll taxes.
Arlington Transportation Partners (ATP) can provide you with customized resources, including a commuter benefits guide, step-by-step program implementation support, and samples policies to get you started.
Flexible workplace policies
Flexible workplace policies such as telework, hybrid work, staggered shifts, and compressed work schedules have become essential to maintaining the buy-in of your workforce. Offering telework options can help an organization overcome logistical and financial challenges related to parking. They also make it possible for businesses to recruit from a much wider geographical pool.
Flexible workplace policies enhance work-life balance, which improves employee productivity. ATP can provide you with sample policies and guidelines, telework training for managers and employees to implement and enhance an all-encompassing flexible workplace policy.
Commuting habits have changed over the past two years. For many commuters, their previous mode of transportation may not be as feasible an option as it was prior to the pandemic. Some may still be hesitant to ride public transit. Ridesharing programs like carpool and vanpool can help mitigate some of these challenges. By sharing the ride, employees can spend less time in traffic, or in a large crowd of fellow public transit riders, while saving money on parking, gas, and tolls.
ATP can help your organization by creating an employee density map to identify ridesharing opportunities. We can also provide customized marketing materials to help you promote this to your employees.
How We Can Help
Not sure where to start? Arlington-based employers are eligible for a free consultation call with ATP. We can review your current commuter benefits package and provide cost-effective recommendations that align with your organization's vision and mission.
Photo Credit: Sam Kittner/Kittner.com for Arlington Transportation Partners