The Great Resignation, the Big Quit, #quittok: What do these all have in common? They all name the current post-pandemic phenomenon that entails people quitting their jobs at an astronomical rate. In fact, the U.S. Chamber of Commerce reports that in 2021, a staggering 47 million workers quit their jobs.
The COVID-19 pandemic took even moderately dissatisfied workers and pushed them over the edge. In 2019, the Work Institute released a report about worker retention. It turns out that since 2010, workers have been looking to achieve a better work life balance, noting flexible scheduling and even commute as reasons to reconsider their employment. Specifically, commute concerns that resulted in quitting increased 403% in the 10 year Work Institute study. While opportunities for remote work as a result of the pandemic has solved this issue for “office jobs,” this problem still remains for jobs incapable of being completed via Zoom or email.
For some corporations and employers, the Great Resignation could be a nightmare: endless open jobs, low retention rates, and profits lost. Meanwhile, workers struggle to find a job that is the right fit for them. The positive side of the double edged sword of the Great Resignation, is the Great Reshuffle. While many people are quitting, almost just as many are being hired. So how do you ensure retention and negate growing complications about commuting? Commuter benefits. Essentially, in the same fashion as healthcare or a 401k, commute functions as a pre-tax enrollment system, where employees are guaranteed a secure ride to work through their employer.
With commuter benefits, the payoffs of working for you will greatly outweigh other employers. In August 2022 alone, 4.3 million people quit their jobs, this stat holding steady since about July 2021. That’s a lot of potential hires. According to a survey conducted by ZipRecruiter, 2 out of 3 job seekers cite the cost of commuting as their most important factor. Through commuter benefits, you can eliminate the stress of commuting for your employees.
Not only will your employees benefit with better work-life balance, less stress, and more money in their pocket from their paycheck that doesn’t go to a car payment or fuel, but you will benefit too. Your workers will be more reliable, as you will be providing and managing how they get to work. You can attract people to your company who may not have had the means to work for you before providing commuter benefits. Your potential employee pool will expand even more (hard to imagine after hearing job seekers are at an all time high), from immigrants to even workers across county lines if your workplace is remote. The diverse workforce you have the potential to build by providing transportation is paramount to further success in filling open positions and prioritizing inclusivity and equity in your business model.
Ryan McManus, CEO of SHARE Mobility, whose mission is to provide mobility and software commuter solutions, agrees that “transportation is proving to be the best way for companies to fill jobs” because “it's a benefit that employees are able to depend on and eventually something that employers are going to recognize as critical as a health insurance benefit.” He and his team at SHARE Mobility have helped numerous workplaces successfully retain and grow their workforce. By offering SHARE Mobility as a transportation solution, a rural food producer sourced potential hires from the city, filling 92 jobs as a result. Another manufacturer increased retention by 62%. In terms of keeping your employees, expanding your talent pool, all while allowing the Great Reshuffle to work in your favor, commuter benefits work.