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    Adapt Or Die: Future-Proof Your Business With These Essential Tips

    Adapt Or Die: Future-Proof Your Business With These Essential Tips

    Adaptable Hybrid Work Approach Crucial for Employee Retention

    Adaptable Hybrid Work Approach Crucial for Employee Retention

    10 Changes Your Organization Must Make To Succeed This Year

    10 Changes Your Organization Must Make To Succeed This Year

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    Do Pay Transparency Laws Actually Matter?

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    Evaluating the Effectiveness of Hybrid Work Models and Office Reintegration

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    Establish An Effective Hybrid Work Environment In 6 Steps

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    IWG Selling The Crown Jewels? You Would Think So Judging By The Asking Price

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    The Million Dollar-Mistake Businesses In California Cannot Afford To Make: Compliance Deadline Approaching!

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    How Africa’s Economy will Harness Digital Tech in the Future of Work

  • Work-life
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    Astonishing Deficit in Hybrid Work Protocol Confirmed by Recent Studies

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    Driving Sustainable Change: Advice for Facilities Managers

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    How To Strengthen Your Workforce: Cultivate Growth Opportunities For Women

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    Build The Best Work Playlist: 8 Songs To Avoid And 10 To Blast

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    Escape The Lingering Cold In These 7 Countries Perfect For Remote Work

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    Say Goodbye Comfy Pants – 9 in 10 Companies Planning RTO This Year

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    Remote Work Is Just E-Commerce Déjà Vu All Over Again

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    The CDC’s Vision For The Future Of Worker Health

  • Tech
    What Every Business Needs to Know About Managed Development Services

    What Every Business Needs to Know About Managed Development Services

    LiquidSpace and Kadence Team Up to Revolutionize Hybrid Work

    LiquidSpace and Kadence Team Up to Revolutionize Hybrid Work

    Using IoT Tech Is Crucial For Office Planning And Employee Health

    Using IoT Tech Is Crucial For Office Planning And Employee Health

    Paving the Way for the Future of the Workplace With the Metaverse

    Paving the Way for the Future of the Workplace With the Metaverse

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    What You Need To Know About Web3 And Finding Great Developers

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    The Price Of Remote Work? Your Privacy

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  • Design
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    How to Design for Behavior To Create a New In-Person Working Environment

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    People-Driven Alternate Workspaces

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    How Physical Spaces Shape Human Relationships and Emotional Well-Being

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    Resimercial Design Balances Comfort and Sustainability in the Office

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    Sustainability, Well-being, and the Building Blocks of a Biophilic Workplace

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  • Workforce
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    Master the Art of Hosting Engaging Virtual Meetings

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    5 Steps To Master The Hybrid Work Model

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    Diplomas and Dilemmas: How 2023 Graduates Can Navigate Job Market Chaos

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    Want To Stop Employees From Walking Out The Door? Build Them A Career Ladder

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    Unlock the Power of Employee Resource Groups: How To Avoid Common Pitfalls And Create A Group That Drives Change

  • Coworking
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    Reaching Beyond The Desk: How Coworking Spaces Can Transform Communities

    All Good Work Partners with JLL To Support Nonprofit Organizations

    All Good Work Partners with JLL To Support Nonprofit Organizations

    We Told You So

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    How Coworking Spaces Can Leverage Blockchain to Enhance Their Services

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    Want To Work At The Ritziest Coworking Office In The World? It’s Going To Cost You

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    The Warehouse: Where Coworking Meets Inspiration In The Heart Of New Orleans

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    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

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    5 Pros Share How To Use Instagram To Grow Your Coworking Business

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    JLL’s New Future Of Work Survey: The Next Few Years Are Crucial For Commercial Real Estate

    What Is The Impact Of Hybrid Working On Space Optimization

    What Is The Impact Of Hybrid Working On Space Optimization?

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Many Employees Literally Cannot Afford To Return To The Office And Employers Are Considering Picking Up The Tab

Soaring gas prices are impacting employees’ ability to fill their tanks and get to work. Now some employers are taking steps to ease that financial burden.

byEmma Ascott
July 18, 2022
in Work-life
Reading Time: 6 mins read
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  • Inflation is at a 41-year high and soaring gas prices are taking a toll across the country, with hourly workers bearing the brunt of these challenges — 81% reported that record gas prices have made it hard to pay other expenses.  
  • Almost half of employees in a survey conducted by PwC reported that financial stress has become a distraction at work. 
  • Compt, an HR tech platform that helps businesses implement employee perk programs, is seeing that more of their customers are activating the “Home” and “Family” stipends categories to cover increased costs for things like gas. 

If companies are going to force employees to return to the office, they might want to pay for the commute. 

At least, that’s what workers across the nation are saying because they can’t afford to come in otherwise — and some employers are paying up. 

The 41-year high inflation and soaring gas prices are taking a toll across the country. Hourly workers are bearing the brunt of these challenges, with a staggering 81% of them reporting that record prices at the gas pump have had a negative effect on their ability to pay other expenses. 

Compt, an HR tech platform that helps businesses implement employee perk programs, is seeing that more of their customers are activating the “Home” and “Family” stipends categories to cover increased costs for things like gas. This has a notable impact on families and eases the burden of yet another expense they would otherwise have to worry about when commuting to the office. 

They’re also taking advantage of two nontaxable categories on Compt’s platform: Commuter Parking and Commuter Transit. 

The number of expenses submitted with “gas” in the description more than doubled compared to January 2022 and April 2022, Compt reported. 

Commuter-specific stipend categories (parking and transit) saw a slight increase from 2.12% in Q4 of 2021 to 2.35% Q1 2022. While that percentage seems small, it represents thousands of dollars in claims. 

When looking at year-over-year data, the findings are more significant. In May 2021, commuter expenses accounted for only .23% of all claims. That number has since increased 10 times or almost 922%.  

Commuter expenses increased from August to December 2021, plateaued, and then increased again as Q1 2022 progressed. Claims spiked in April shortly after a smattering of news stories were published about the mass return-to-office effort. 

“For many employees, working fully remote for the past 2.5 years has shown that productivity remains high and they feel a better sense of balance in their lives,” Compt Founder and CEO Amy Spurling said. “If companies insist on employees returning to the office during a time of long commutes and sky-high gas prices, they will have to entice people to do so.” 

She said that she’s seen that some companies are choosing to offer employee perk stipends to drive specific behavior.  

“A stipend allotment may be larger for in-office people than their remote colleagues to cover benefits like food, gas, commute (parking/transit), or even wellness. In remote-first companies looking to offload expensive office spaces, we see the reverse happening,” Spurling said.  

A new Harris Poll survey (commissioned by DailyPay and Funding Our Future) captures the amount of money respondents are saving, the impact of increased gas prices, their ability to pay for other expenses (rent, groceries), taking out payday loans, and the stress of managing personal finances. 

The poll revealed that 75% of workers surveyed struggled to pay their bills this year due to recent price surges.  

Nearly half of hourly employees reported difficulties paying for their groceries, while 40% struggled with utility bills and 34% had a hard time covering rent or making mortgage payments.  

In order to navigate the rising cost of gas and other financial challenges, 22% of employees surveyed took out a payday loan in 2022. These struggles are further exacerbated by the fact that 35% of all hourly workers report receiving no pay increase over the past year, and this figure increases to 49% for hourly workers with an annual household income of under $50k, according to DailyPay.  

Inflation and its after-effects can be emotionally taxing on workers, as it may cause them to lose control over their financial well-being. Almost half of employees in a survey conducted by PwC reported that financial stress has become a distraction at work. 

Employers have many options to help their employees through this period. If offering employees raises or gas cards is not financially viable for the company, employers can provide support in other ways, such as offering useful financial wellness benefits.  

Will workers utilize coworking spaces less because it costs more to drive to them?  

Players in this sector might be wondering whether the increases in fuel will increase or decrease remote work, and/or increase or decrease working near home in suburban community-based coworking and business centers.  

IWG says that they will add up to 2,000 more locations in the next two years, and the greatest majority of these new centers will be in the suburbs of primary and secondary market cities.  

Organizations will need to evaluate the needs of the workforce, as well as what is most sustainable. If inflation and high gas prices do not subside, they will have a significantly negative impact on the workforce, as well as the future of how work gets done.  

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Tags: Social ImpactWorkforceWorkplace Wellness
Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

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