Preparing For RTO Financially

More companies are making plans to bring workers back to the office by the end of the year. Your human resources team can help smooth the transition back to office work by offering a few perks. The Ascent explains.

The biggest change will be factoring in commute costs into our budgets again. We’ve had a year to get used to remote work and the bonus of not paying for a commute. Some workers may resist going back to the office because they don’t want to pay for that. However, there are commuter benefits your employees could take advantage of by electing to take a pre-tax deduction to cover costs for commuting on public transit. In 2021, the maximum is $270 a month.

Another thing HR teams could do is offer a dependent care FSA. Childcare is expensive and these flexible savings accounts help families save pre-tax money to cover expenses. These FSAs are often used for things like paying for daycare or summer camp. Also, as part of the American Rescue Plan Act, the contribution limit has been raised significantly, from $5,000 to $10,500 for single parents and married parents filing jointly. Furthermore, the deadline for adjusting contributions has changed due to the pandemic. It’s employer-optional to do so, so if you’re not offering this perk consider doing so.

Cushioning the stress of going back to an office will make the return more smooth for employers and employees. Helping your employees take advantage of tax breaks related to the cost of commuting and childcare will help bring more reluctant employees back in.