Would you move your life away from the big smoke if your company paid your rent? That’s the trade-off that Amazon’s offshoot Audible offers its employees.
In January of this year, the audio book company announced to its employees a ‘housing lottery’: 20 lucky employees could have a year’s worth of rent-free living (US$2000 a month, that is), if they signed a two-year lease on a newly restored property 10 minutes from the Audible offices in Newark. The company also furthered the offer to give people a US$250 per month rental bonus if employees moved to Newark – a town on the other side of Jersey, around 30 minutes by bus from Manhattan.
Audible isn’t the only company that recognise talent retention means giving a little help on the housing front. Investment software company Addepar also offers its employees a rental assistance program, but for the pricier spots of New York and Silicon Valley. And considering companies like Facebook and Google have contributed to the boom of San Francisco, it seems only right that they chip in and help their employees find a place to rest their head: Google offers loans to new hires without them having to front up any deposit, and Facebook offers employees a US$10,000 boost when they purchase within 16 kilometres of the Palo Alto headquarters. The social media leader is also building an additional 1,500 apartments available to the public to ease the housing burden.