Are you interested in a commuter benefits program but your company doesn’t offer it?
No problem. Often people think that adding more benefits for employees is costly and will add more time-consuming paperwork to their day.
Commuter benefits have a positive impact on employees and employers — and much less stress than say health insurance or 401K plans.
If you want to dispel the myths about commuter benefits and highlight the benefits for your bosses, here are some facts that illustrate how it’s a win-win situation for everyone.
- Employers save money by offering commuter benefits There are many great reasons to offer commuter benefits, but we all know something makes much sense when it helps the bottom line. When you introduce the idea to your company, you can point out employers save on average about 7.65 percent in payroll taxes.
- You do not need to be a large company The minimum number of employees for a commuter benefits program is one. Multiple cities have already passed ordinances requiring a commuter benefits program if businesses have a certain amount of employees.
- It’s a benefit that directly impacts employee financial wellness Employees set aside pre-tax money to pay for the benefits. You, the commuter, can save up to 40 percent on your commuting costs every year. Since this benefit directly impacts an employee’s finances, chances are they will be more engaged as a result.
- Help save the environment and reduce traffic congestion Incentives that can lead more employees to take public transportation and reduce solo driving help take cars off roads and lower carbon footprints. Fewer cars also can mean fewer traffic jams for everyone else.
- Help attract and retain top talent Since not every company offers commuter benefits, it’s a perk your employer can use in its recruiting and retention efforts.
- There’s no detailed record keeping There are no unique IRS reporting forms that are required. Your company will need to keep track of the same forms it would for any expenditure.
We are the leading commuter benefits provider in the country, working with Fortune 500 companies and smaller employers. We can help your company with all the record keeping requirements.
How does it work?
- Have your employer give us a call (800.531.2828) book a meeting here to provide them with the full overview.
- We will do some research to see what your company needs. Then we can outfit your company with a customized plan.
- Our team will help set up the program.
- Employees will receive vouchers, checks or prepaid cards, depending on what your company selects.Would like to share additional resources with your employer? Share this 101 guide to understanding how commuter benefits work.
