Tuesday February 26th, 2019
With more than 150 million workers in the United States, the number of people commuting to work every day is staggering. According to the U.S. Census Bureau, approximately 85 percent of those workers commute by car, while nearly 5 percent take some form of public transport. Upon arriving to work, employees may have to look for parking, especially if your office doesn’t have its own lot that offers spaces to team members.
Commuting adds stress to your employees, which may impact how they act when they arrive to work. A challenging or difficult commute can even cause an employee to leave. Even the most positive team member who contributes greatly to your organization can arrive to work frustrated after a long or difficult commute.
By offering your employees commuting benefits, you may be able to alleviate some of the frustration and contribute to a more positive workplace. A transit and parking plan, available through Infinisource Benefit Services, helps your employees cover their commuting costs on a pre-tax basis. Whether they drive their own personal vehicles and have to pay expensive parking fees, or they take public transportation and have to purchase a monthly pass, the costs really add up.
Transit and parking plans are easy to set up and use. Your employees will receive debit cards that allow them to pay for qualified commuting expenses, which include transit passes, parking fees, and vanpooling costs. The debit card is connected to each employee’s transit account, which means they don’t have to pay out of pocket and wait for reimbursement.
Infinisource Benefit Services makes it easy to set up a transit and parking plan, which is allowed under IRS Code Section 132. Your employees will have access to an online portal to set up their accounts, check their account balances, and handle other tasks. You’ll receive monthly reports showing how your enrolled employees are using their transit and parking accounts.
Offering commuting benefits can improve the culture at your workplace, especially if you have employees who have been spending a lot on transit passes or parking fees. As a result, these employees tend to feel more appreciated, which contributes to a positive atmosphere and can improve loyalty. Happy employees also represent your business more positively. It’s certainly worth considering the addition of transit and parking benefits to the package you offer to your employees.