Facebook has offered single staffers over $10,000 to relocate closer to their Menlo Park headquarters. This was one of the perks of being an employee in one of Silicon Valley's most successful companies on the Bay Area.
San Francisco Business Times also reported that employees with families can receive $15,000 if they opt to take the offer. The report continued to say that on the surface, it seemed like a notable benefit, but the ramifications could be very significant.
According to the report, to receive the payout, an employee must buy or rent within 10 miles of their headquarters. The policy would be implemented for 12 months.
According to a spokesperson quoted in the report, the measure was designed to support their employees who are the people who matter most to them. Meanwhile, others outside the company were worried about the influx of Facebook employees. This could increase home prices, raise rents, and ultimately displace people.
There have been reports that having employees closer to the office would greatly benefit the company. Employees could stay longer at work and Facebook could save on commuter shuttles costs, according to a report from Urban Bound. Those same shuttles have dominated the San Francisco headlines for years. It was about a year ago when Facebook shuttle drivers opted to unionize. It was also been widely reported that apartments and homes near tech bus stops build more wealth than others.
The Facebook relocation report further emphasized that with all the pieces altogether, it can have scenarios with all kinds of possible outcomes, given the fact that the commuter class was continually growing. The article cites a Joint Venture report revealing the number of people commuting from San Francisco to San Mateo County, where Menlo Park is located, between 2011 and 2013 increased 27 percent. Within the same time period, commutes between San Francisco and Alameda County rose by 33 percent; and from San Francisco to Santa Clara by 23 percent.
