Strategic HR Employer housing support
vouchers,” says Butcher. “Employees
now have the option to use this to save
for a mortgage deposit or to repay their
mortgage early.”
It’s a similar story at the CBI, whose
own rental deposit loan has been taken
up by at least 10% of the workforce in
the past year. “When a quarter of staff
have moved home and 10% have
requested the loan that’s a high
proportion of staff choosing to access
it,” says Adams. “Offering the small
things that have a big impact on
people’s lives helps engage employees
and improve their wellbeing. In turn
engaged employees means our
productivity is higher.”
Also key is financial support for
existing workers seconding, or new
people relocating, for work. This can
cover upfront costs such as removal
vans or rent support for a limited time.
Subsidised lets are another option.
Publisher Hachette opted for this when
it partnered The Book Trade Charity
to offer below-market-rate rent
for interns.
Meanwhile Cosmopolitan enables
women starting their careers in London
to become property guardians in
exchange for subsidised rent.
Build to rent
On the supply side of things some are
going down the build-to-rent route.
Get Living for Business partners with
employers to offer rental properties
close to workplaces, with no deposit or
upfront costs, two weeks’ free rent to
get started, and concessional rates of
rent. Steven Osei, general manager of
partnerships at Get Living, says it’s
especially beneficial for intakes of
graduates or new starters relocating.
Osei says the financial benefits are
just one part of the picture. “It’s very
easy to feel disconnected when you
move to a new city or rent a new home,
so we run networking events with the
company for the graduates to come and
meet each other and potentially find
housemates,” he says.
“There are also regular residents’
events to meet their neighbours, and
trusted teams on site. There’s a sense of
community… The thinking is that
employers look after their teams at
work and now they look after them
at home.”
There are also less formal types of
support HR can provide, adds Hadley,
including leave for moving days,
flexible working, good IT equipment to
reduce the need to commute every day,
and intranet sites for staff to advertise
their spare rooms.
“A lot of it comes back to general
financial wellbeing,” adds Fox. “Helping
with budgeting and saving, providing
access to mortgage advice, and
discounted mortgage rates are getting
more common.”
Employer housing support of any of
these types is a “win-win” for both
employers and employees, says Shalam.
It “improves wellbeing and security,
as well as aiding recruitment, retention
and productivity. And in the long run
raising productivity will filter through
into higher wages,” he says.
So the benefits are clear. But less
clear perhaps is the debate around
whether this level of involvement in
employees’ lives creates something of a
dystopia; with no distinction between
work life and home life.
“To some extent there can be a
blurring of lines where it can go
too far,” says Hadley. “So it’s about
finding the right line that’s not
overly paternalistic.”
A policy problem
The problem, says London First’s
programme director for housing
Mairéad Carroll, is that employers
are finding themselves having to pick
up the bill for a wider societal issue.
“I don’t think this is necessarily
employers’ responsibility,” she says.
“We as a country haven’t built enough
homes. It’s great employers are
responding, but they’re technically
responding to a public policy issue
that we need to see more from the
government on.”
Carroll is not alone in thinking
this. The CSJ is calling on the
government to set up an Employer
Housing Unit to drive and promote
new employer housing schemes
and incentivise organisations by
launching accreditations for
such schemes.
But with or without government
backing, housing support is only going
to become more integral to the
workforce over the coming years,
Hadley feels.
“It’s not a trend a lot of employers
are doing yet but many we’ve spoken to
have said they think this will be
increasingly part of the benefits they
offer,” he says.
“The housing crisis isn’t going away
anytime soon, staffing shortages aren’t
going away anytime soon. So
innovating and supporting workers
with it will need to be front of mind for
employers across the country.” HR
The
thinking
is that
employers
look after
their teams
at work and
now they
look after
them at
home
Employer housing support:
The practicalities
Keep processes simple and
speedy. “If people fi nd a property
they need money for a deposit
quickly,” says Russell Butcher,
senior manager in the partner
resources team at Starbucks. The
coffee chain’s rental deposit
scheme is simple to apply to and
payment is made within fi ve
working days. “You could be
dealing with a crisis so it needs to
be a rapid-response service by
design – people can’t wait until
the end of the month.”
Evidence is key. Butcher also
recommends that HR seek evidence that
any deposit loans have been submitted
to a government-backed tenancy
deposit protection scheme. This “safety
net” ensures the loan has reached the
right destination.
Take tax advice. Offering employees
access to accommodation is a taxable
benefi t, explains principal at Aon Jeff Fox,
and rates can sometimes be hefty: “Get
proper advice before entering into it or
you could get a sting in the tail down the
line when you get the tax bill.”
34 HR October 2019 hrmagazine.co.uk
/hrmagazine.co.uk