Many companies take parking for granted, but it's an expensive business resource whose cost can probably be reduced.
Do you have a scarce parking supply?Scarce parking costs businesses in many ways:
- Employee frustration
- Tougher recruiting
- Poor customer and visitor access
Do you have costly parking?
Parking expenses can average anywhere from $50 - $130 per space per month! This can be a financial burden for many employees and can inhibit recruitment. Many companies try to offset that burden by offering free parking for their employees, but that encourages driving alone and makes less efficient use of a costly company resource.
Commuter benefits programs can lighten the burden on employers and employees by promoting more efficient commuting and lower parking demand. Every parking space you save, because an employee shares the ride, means more money you can save and more people you can serve.
The following success stories demonstrate how companies used commuter benefits such as bicycling programs, vanpool and carpool programs, and preferred parking for carpools and vanpools, to resolve their scarce and costly parking situations.
Quotes
Case Studies
Summaries
Quotes
- "When the parking lot at our Arlington Campus was eliminated due to construction, there was a lot of apprehension from the campus and surrounding communities. Due to heavy promotion of commute alternatives, the transition went very smoothly."
"Our students, faculty and staff travel to campus by transit, bicycle, and other means. Alternative transportation programs work!"
-Dr. Randall Edwards, Executive Vice President, George Mason University
Case Studies
City of Rockville
The City of Rockville initiated their telework program in September 2000. Of the City's total 529 regular employees, 155 are eligible to telework, and 28 (18.1% of eligible employees, 5.2% of total employee population) participate in the program. Participants must submit a detailed proposal and pass a careful approval process. Once approved, the employee is eligible for funds of up to $500 for equipment, software, communications devices and services, and supplies. Teleworkers participate in specialized telework training and focus groups.
Employees telework at least twice a month, and many telework once a week. In addition to boosting employee morale, retention, and recruitment, the program saves transportation expenses and reduces vehicle miles by approximately 33,600 per year.
In addition, the City offers parking cash-out subsidies in the amount of $70 per month to employees who choose to carpool, walk, bike, or use public transportation rather than drive to work. They also provide preferred parking for carpoolers. Of 529 employees, 14 regularly take public transportation and 17 walk, bike, or carpool.
Navy Federal Credit Union:
With a doubling of office space planned, the Navy Federal Credit Union established a commuter benefits program as an integral part of its phased business-expansion plan. The program includes:
- Preferred parking for carpools and vanpools
- Flextime and staggered work hours
- Convenient bus service to Metro
- Carpool, vanpool, and transit promotion
- Savings of $1.4 million
- Major reduction in parking need
- Stronger benefits package
- Improved employee relations and retention
- Enhanced recruitment ability supporting employment growth
- A tight land situation, high leased parking costs, and employee access difficulties were substantially reduced through commuter benefits.
- Net savings after costs of promotion and commute incentives are over $620,000 per year.
Summaries
| Company/Location/Size: | Georgia Pacific Atlanta, GA 1,200 employees |
|---|---|
| Firm Type: | Sales distribution center |
| Site Location: | Office park |
| Services Offered: | Transit subsidy, vanpool subsidy, vanpool start-up cost, Guaranteed Ride Home, preferential parking |
| Benefits Realized: | Reduced parking cost by $100,000 |
| Company/Location/Size: | USAA San Antonio, TX 12,000 employees |
| Firm Type: | Insurance company, sales and claims |
| Site Location: | Downtown fringe |
| Services Offered: | 95 vans - vanpool subsidy and company administration |
| Benefits Realized: | Recruitment, reduced parking need by 1,000 spaces |
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