And we thought $3 per gallon for gas was a rip-off. Now, experts are saying that the national average for regular gasoline, which now stands at above $3.00 per gallon, will keep climbing through the winter and into the spring. Gas could reach as high as $4 in some states.
Those in charge of human resources management should note that the negative outlook for gas prices in the near future could cause employees to spend more of their take-home pay on their daily commute to work.In 2008, 4.2 percent of median household income was soaked up by gasoline purchases. The following year, 6.5 percent of incomes were dedicated to the pump. And in 2010, that number increased again – 7.6 percent of incomes went toward powering our motor vehicles.
Although many companies across the country are still under tight budgetary constraints, there are some ways they can help employees cope with this increasing cost. Companies can offer more telecommuting options until gas prices come down. Allowing employees to work from home just twice a month can cut their gas expenses by up to 10 percent. The benefit could be posed as a reward for top performers, creating an incentive for all employees to increase their performance.
According to the Associated Press, the average price of gas was $2.59 per gallon last year. The spike in recent gas prices is due to the cost of crude oil, which has hovered between $83 and $89 a barrel since Thanksgiving.
Does your company allow employees to work from home? If so, is it a standard option or only for top performers?