Many US markets suffering from lack of affordable housing options are headquarters for the country's largest employers. What role do these companies have in providing more affordable housing options?
A dream job in the big city can come with complications. For many ambitious young graduates, the biggest headache attached to landing a role in London, Sydney or New York is finding somewhere affordable to live. If the lack of cheap housing in major cities has become a worry for the millennial workforce, it’s also a significant recruitment problem for companies around the world.
Leading employers have realised the most lucrative benefit they can offer is help meeting housing costs, whether it be loans, subsidies or mortgage deals
Housing pressures have forced the corporate world to rethink the perks used to entice top talent. With bicycle racks, free gym membership and paid volunteering leave now commonplace sweeteners, some leading employers have realised the most lucrative benefit they can offer is help meeting housing costs, whether it be loans, subsidies or mortgage deals.
Facebook and Google have even drawn up plans to construct housing for tech workers struggling with prices in the San Francisco Bay Area, a return to the days when philanthropic industrialists created company towns and model villages with the aim of improving the lives of labourers.
London prices becoming a barrier to entry-level recruitment
So what exactly can businesses do to ease the housing problems experienced by urban workers worldwide? Could the scale of the crisis push large employers into buying or building homes for staff?Read More