As the invasion of Ukraine seems to have no end in sight, I’ve watched with concern and sadness. My thoughts go out to the people of Ukraine. So many people around the world are supporting the humanitarian crisis in whatever ways they can, including TASC employees who raised $7,500 in just 3 weeks. I’m proud to also share that TASC matched every employee donation dollar-for-dollar.
For many of us, who have been fortunate to live during times of peace, being in the middle of a conflict like this is inconceivable. Inflation and the Ukraine invasion created the perfect storm for the highest gas prices in our lifetime.
After two years of remote work, companies are now inviting employees back into offices, but with the price of gas, many low-and moderate-income workers may not be able to afford the commute. For example, let’s say an employee has a seven-mile commute and their car gets 26 miles per gallon. A week of driving to work in May 2020 would have cost $3.74, in May 2021 $7.50, and $10.25 as of mid-March 2022 using average prices. If someone lives 30 miles away from their workplace, a week of driving would have cost $16.04 in May 2020, $32.20 the year after, and $43.97 last month.
If these trends hold, the average worker will pay more than $2,000 more on gas this year. While we all support the sanctions placed on Russia that led to this price increase, we cannot ignore the impact it has on workers that cannot work virtually and must commute to their workplace.
For businesses that want to ease the pain at the pump for their employees, TASC just launched a simple, easy solution to help deal with surging fuel costs. Our Gas Plus Account allows for employers to make contributions to an account for their employees to purchase gas or pay for public transit expenses. Employees can then use their TASC card to pay-at-the-pump or purchase public transit tickets. This is the same card they use for doctor’s co-pays so employees are familiar with how it works and doesn’t require them to carry an additional card.
Last month we launched a pilot with our own employees who are required to be in the office or travel for their job. While the $30 per month doesn’t cover all their costs, employees expressed their gratitude for TASC helping offset some of costs of getting to and from work. By providing this assistance, we demonstrated our commitment to our employees’ financial well-being.
It is important for company leaders to acknowledge the gas prices and its impact on workers who are struggling to pay for their commute. The Gas Plus Account offers a convenient and fast way to support employees in dealing with the pain at the pump that is likely going to continue for many more months. Options like this account are more practical than raising salaries because of implications associated with pay that have tax implications.
Our Gas Plus Account is a creative alternative to help employees save on commuting costs while attracting and retaining employees without significantly adding to corporate expenses. If you are interested in learning more about how you can offer this benefit to your team, reach out to iwanttasc@tasconline.com.
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