Advanced-RV is located in the quaint, small town of Willoughby, Ohio, and many of its employees enjoy living close to work. Besides enjoying the great shopping, dining and socializing, they also get an incredible perk: a subsidy to live close to the office.
According to Rachael Feintzeig, a writer for the Wall Street Journal, companies on the leading edge of human resource practices—like Addepar, Facebook, and Yelp—are introducing incentives that entice new hires to live close to the office in places like Silicon Valley, New York City, and Menlo Park with rent or mortgage subsidies.
About a decade ago, Mike Neundorfer—CEO of Neundorfer, Inc., a Willoughby, Ohio, engineering firm, and Advanced-RV—decided to offer subsidies to employees to live within walking or biking distance of work. “By living close to work, a typical family can avoid the expense and pollution associated with owning two cars,” explains Neundorfer. The offer is in the form of a forgivable loan with no payments due unless the employee leaves within three years of his/her real home purchase.
This year, two of Neundorfer’s staff members took advantage of the subsidy. Both are young, well-educated engineers who had many employment options in varied locations after they graduated from college.
Eric, one of the team members who took advantage of this offer, had this to say-“I feel like it gave me a jump start. I was casually looking at the real estate market, but the opportunity to get this loan made me become a serious buyer. When I heard about this benefit, it definitely influenced where I searched for my home. It helped me with my down payment.”
Neundorfer and his leadership team have continued to evolve their company culture over the years, offering perks like in-house fitness and yoga classes, unlimited vacation and PTO, indoor parking for bicycles, showers, and a greenspace with work stations and WiFi access for fresh air meetings.
Among the many reasons Neundorfer, Inc. and Advanced-RV intentionally located in Willoughby is that the Mayor and Community Development Director have a business-friendly demeanor.