{"id":3000010072,"date":"2019-12-18T19:30:59","date_gmt":"2019-12-18T23:30:59","guid":{"rendered":"https:\/\/deconstructed.wework.com\/?p=3125"},"modified":"2020-09-03T05:53:22","modified_gmt":"2020-09-03T09:53:22","slug":"nyc-commute-office-space","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/business-solutions\/nyc-commute-office-space","title":{"rendered":"Three ways that the long NYC commute can affect your bottom line"},"content":{"rendered":"\n

It\u2019s no secret\u2014no one likes a long commute. According to recent studies<\/a>, long commutes are more than a nuisance; they\u2019re harmful to our productivity and our health. And in New York City, where the average journey from home to work is over 40 minutes, countless workers experience the strain. <\/p>\n\n\n\n

If most or all of your employees endure a long NYC commute, your business may face hidden costs that impact its bottom line. But when armed with the right knowledge, you can make sensible choices for your employees and company. <\/p>\n\n\n\n

How your employees\u2019 NYC commute impacts your business <\/h2>\n\n\n\n

There\u2019s a common misconception that commuter considerations and perks are characteristics of progressive companies and startups. That\u2019s far from the truth. Here are three reasons why companies of all sizes and industries should prioritize short employee commutes when deciding where to open an office in New York City.  <\/p>\n\n\n\n

Here are three reasons why companies of all sizes and industries should prioritize short employee commutes when deciding where to open an office in New York City. <\/p>\n\n\n\n

\"WeWork-120-E-23rd-St-New-York-NY-10010\"<\/figure>\n\n\n\n

1. You\u2019ll lose the battle for top talent<\/strong><\/h2>\n\n\n\n

To recruit and retain top talent, you need an easy commute for your employees. A staggering 41 percent of respondents from a Paychex survey<\/a> admitted that they left a job because their work commutes were too long. What\u2019s more, a separate study conducted by TheLadders found that 47 percent of job seekers are more inclined to apply for a position with \u201ca convenient, easy commute.\u201d <\/p>\n\n\n\n

If your next office location is situated in a neighborhood notorious for rough commutes, you should calculate the potential cost of employee churn, recruiting, and new talent onboarding before signing the lease. <\/p>\n\n\n\n\n\n

Some reports say the cost of replacing a salaried employee can be as much as twice their pay. It\u2019s even more expensive for executive-level talent; from recruiting to hiring, it can cost up to 213 percent to replace an executive.<\/p>\n\n\n\n

2. Sitting in traffic will make your employees far less productive<\/strong><\/h2>\n\n\n\n

The 2019 Urban Mobility Report <\/a>analyzed traffic patterns and conditions across hundreds of American urban cities. The report found that long commute times cost the U.S. $90 billion per year in lost productivity. What\u2019s more, less productive employees are more likely to disengage from their work, which can cost your business around 34% of that employee\u2019s salary<\/a>. <\/p>\n\n\n\n

On the other hand, a<\/a>study by VitalityHealth<\/a>, the University of Cambridge, RAND Europe and Mercer, found that those who commuted to work in 30 minutes or less gained around 168 hours (or seven days\u2019 worth) of productive time every year.<\/p>\n\n\n\n

Although the average NYC commute<\/a> is a little over 40 minutes, the high volume of public transportation options can help your employees reclaim their time and boost their productivity. Interestingly, an NRDC study<\/a> found that people prefer to commute via public transportation than driving. <\/p>\n\n\n\n

If it’s impossible for you to eliminate your workforce’s lengthy NYC commute, consider looking at office spaces that are near main NYC public transportation hubs. <\/p>\n\n\n\n

3. You\u2019ll pay more for employee health care  <\/strong><\/h2>\n\n\n\n

Long commutes can create a myriad of physical and mental health issues<\/a>, including high blood pressure, back problems, and depression. <\/p>\n\n\n\n

The numbers are staggering. In VitalityHealth\u2019s study, they found that those with long commutes suffer from physical and mental health issues far more than those with shorter commutes. For instance, \u201c33 percent [are] more likely to suffer from depression, 37 percent [are] more likely to have financial worries, 12 percent [are] more likely to report multiple aspects of work-related stress, 46 percent [are] more likely to get less than the recommended seven hours of sleep each night, and 21 percent [are] more likely to be obese.\u201d And that’s even before you consider other factors, such as the increased exposure to pollution<\/a>. <\/p>\n\n\n\n

33 percent [are] more likely to suffer from depression, 37 percent [are] more likely to have financial worries, 12 percent [are] more likely to report multiple aspects of work-related stress, 46 percent [are] more likely to get less than the recommended seven hours of sleep each night, and 21 percent [are] more likely to be obese. <\/p>Vitality Health <\/cite><\/blockquote>\n\n\n\n

With businesses typically covering around 70 percent of employee health care costs, an increase in doctor visits, procedures, and prescriptions may result in higher expenses for your company. <\/p>\n\n\n\n

Finding office space in New York City<\/h2>\n\n\n\n

Understanding the commuting experience in and around New York City will make choosing the best office location for your employees much easier. There\u2019s a lot to gain from prioritizing an easy commute, but a lot to lose if you don\u2019t. <\/p>\n\n\n\n

If you\u2019re considering opening your new office in New York City, WeWork office spaces<\/a> are a great choice. WeWork offers dynamic office solutions with locations across the city and located near major transportation hubs to alleviate your team’s NYC commute concerns. <\/p>\n\n\n\n

If you\u2019re looking for a space for one to 20 people, you can easily secure your office space online<\/a>. If you need space for more than 20 people, request a quote.<\/a> <\/p>\n\n\n