Headlines like “Car repossessions surge 23% as Americans fall behind on payments” highlight the rising financial strain on American households, especially among low-income families that spend 30% of after-tax income on transportation. Despite their essential role in bringing their employer’s desired customer experience to life, only 13% of frontline employees are financially healthy. The rest live paycheck to paycheck and struggle with basic needs, including transportation.
Without strategic employer support and a nudge from brokers or advisers, frontline workers’ transportation challenges can lead to absenteeism, lower productivity and turnover. Here are a few ways HR and benefit professionals can help employees manage transportation expenses — and why doing so is a mutually beneficial investment.
