Commuter benefits are still being used with flexible work
Flexible work was once a work perk benefit that employees could take advantage of to work away from the office once or twice a week. But as companies have brought workers back to work this year, flexible work has taken on a whole new meaning with the hybrid model of having employees work in the office some days and remote on others.
Even though many employees are not commuting to the office anymore, that doesn’t mean commuter benefits are not a worthwhile investment for any company. In fact, commuter benefits are needed more than ever to help employees.
The benefits of commuter benefits
For starters, the many benefits of commuter benefits are still valid, even in a business world where a hybrid model dominates. Those benefits include:
- Reducing employee taxable income
- Providing a range of commuting options
- Promoting a cleaner environment
- Creating healthy habits for employees
The benefits don’t stop there. Employee benefits can help you create an engaged workforce that’s passionate about your company and its jobs.
How someone gets to work is an important decision for any potential hire. If your company is offering to help them lower their taxable income and make it easy to get a transit or parking pass every month, that could also be a significant differentiator among other companies.
While employees lower their taxable incomes, businesses also benefit because they pay lower payroll taxes.
How commuter benefits can help flexible workers
Commuter benefits still present several advantages even with flexible work.
Commuter benefits help all types of commuters. Mass transit riders for buses, subways, trains, trolleys, ferries, water taxis, and light rail benefit from commuter benefits. Employees who drive to work can potentially use benefits if they have qualified parking needs, use meters, or park in garages or lots. Commuter benefits are eligible for vanpool and rideshare users as well.
Though some employees may not commute as much as they did in the past, commuter benefits will still allow them to take advantage of a program with financial and other benefits.
The IRS has raised the amount employees can spend tax-free every month from $270 in 2021 to $280, starting in January 2022. Now is a great time to get your program running.
If commuter benefits is a good fit for you and your employees, book a meeting with us so we can help you find the best option for you.